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The San Carlos Real Estate Week in Review: 2-23-13.

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San Carlos Real Estate Summary.

What started out as an already challenging week for home buyers in San Carlos turned out to be one sheer impossibility as the numbers tilted even more in favor of home sellers.   Over the course of the past seven days, 7 homes went into contract with only 2 new listings to counter-balance the depletion to the inventory.  This resulted in a precipitous drop of 38% in the number of homes for sale in San Carlos, which means we’ll start the week off with a grand total of 8 single-family homes for sale in the entire city.

These numbers are unprecedented, and border on being nonsensical.  With a single digit inventory, and an active/pending ratio of 0.32 (2 or above is considered to be normal), and some of the eye-popping prices that homes are fetching, it’s enough to put some frustrated buyers back on the sidelines to wait for more favorable conditions.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-23-2013:

San Carlos Housing Data 2-23-13 Prior Week
Closed Sales for the Week:
2 5
Average Sold Price
$937,500 $1,047,841 (+%)
Average $/Sq Foot (Sold)
$475 $654
Sold Price vs Orig List (%) 101% 111%
Average DOM of Closed Sales 25 10
No. of Homes Pending Sale: 25 23
Inventory of Active Listings:
8 13 (-38%)
Average Price of Active Listings: $1,528,299 $1,256,953
Average DOM of Active Listings: 22 14
Average $/Sq Foot (List) $596 $607
Active-Pending Ratio:
0.32 : 1 0.6 : 1

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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 2-16-13.

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San Carlos Real Estate Summary.

Sorry for the delay in getting the report out this past week.   If you need hard evidence that home prices are rising in San Carlos, just take a peek at the sold numbers below.   For the homes that closed escrow this week, they fetched an average of 11% over the asking price, led by the stratospheric performance of 148 Chestnut Street, which sold for a whopping 30% over its asking price.    And there are more eye-popping sales that will be registered in the coming weeks.   This means that buyers are really having to dig deep to land their home in this ultra-competitive seller’s market.    And with only about 11 homes to choose from in the entire city of San Carlos, it’s going to remain this way for the foreseeable future.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-16-2013:

San Carlos Housing Data 2-16-13 Prior Week
Closed Sales for the Week:
5 2
Average Sold Price
$1,047,841 $1,020,500 (+2.7%)
Average $/Sq Foot (Sold)
$654 $613
Sold Price vs Orig List (%) 111% 109%
Average DOM of Closed Sales 10 14
No. of Homes Pending Sale: 23 20
Inventory of Active Listings:
13 16 (+44%)
Average Price of Active Listings: $1,256,953 $1,302,493
Average DOM of Active Listings: 14 10
Average $/Sq Foot (List) $607 $617
Active-Pending Ratio:
0.6 : 1 0.6 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 2-9-13.

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San Carlos Real Estate Summary.

It didn’t start out that way, but it turned out to be a very good week for buyers looking in San Carlos.  There were 8 new listings that made their debut last week, which is easily the biggest one-week showing so far this year.  Open houses were very well attended the past 2 weekends, and buyers seem eager to pounce on the new inventory that’s coming on line as was evident by the 6 listings that went into contract during the same period.    Despite the surge in inventory, we’re still sitting at 16 SFR listings in the entire city, which is still very low.  Keep a close eye on new listings throughout the coming weeks — it will be a very dynamic market going forward.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-9-2013:

San Carlos Housing Data 2-9-13 Prior Week
Closed Sales for the Week:
2 1
Average Sold Price
$1,020,500 $1,622,000 (-38%)
Average $/Sq Foot (Sold)
$613 $605
Sold Price vs Orig List (%) 109% 90%
Average DOM of Closed Sales 14 183
No. of Homes Pending Sale: 20 12
Inventory of Active Listings:
16 14 (+14%)
Average Price of Active Listings: $1,302,493 $1,406,349
Average DOM of Active Listings: 10 46
Average $/Sq Foot (List) $617 $574
Active-Pending Ratio:
0.6 : 1 1.2 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 2-2-13.

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San Carlos Real Estate Summary.

There are many who believe that the spring real estate market doesn’t truly get underway until the Super Bowl is done.    If that’s the case, then bring on the market  (much to the chagrin of the 49ers).    In reality, the market isn’t waiting for anyone.   There were four nice listings to make their debut last week (see below) and there will be a couple of really good ones to appear this week – stay tuned to the blog for more details.    But with activity being brisk as expected, and 5 homes going into contract,  the active inventory still sits at a paltry 14 listings for sale.   Buyers are going to have to wait another week to see if we’ll get enough new listings to help ease the intense buying competition in San Carlos.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 2-2-2013:

San Carlos Housing Data 2-2-13 Prior Week
Closed Sales for the Week:
1 3
Average Sold Price
$1,622,000 $1,087,677 (+49%)
Average $/Sq Foot (Sold)
$605 $513
Sold Price vs Orig List (%) 90% 106%
Average DOM of Closed Sales 183 26
No. of Homes Pending Sale: 12 12
Inventory of Active Listings:
14 14 (+0%)
Average Price of Active Listings: $1,406,349 $1,479,278
Average DOM of Active Listings: 46 95
Average $/Sq Foot (List) $574 $581
Active-Pending Ratio:
1.2 : 1 1.2 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 1-26-13.

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San Carlos Real Estate Summary.

The activity is definitely starting to pick up in San Carlos as we head into the early-spring market.  There were 4 new listings that made their debut last week, and 5 homes were snatched up by eager buyers — 4 of the 5 had been on the market for less than two weeks, so buyers are definitely on task and moving decisively.

It’s interesting that of the 14 or so homes that are available for sale in San Carlos, not one of them is the bread-and-butter 3BR/2BA configuration that so many buyers are looking for.   But that will start to change over the next couple of weeks as there are a handful of really nice 3/2’s that will be hitting the market.     Stay tuned!

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 1-26-2013:

San Carlos Housing Data 1-26-13 Prior Week
Closed Sales for the Week:
3 6
Average Sold Price
$1,087,677 $1,243,321 (-12.5%)
Average $/Sq Foot (Sold)
$513 $516
Sold Price vs Orig List (%) 106% 92%
Average DOM of Closed Sales 26 50
No. of Homes Pending Sale: 12 8
Inventory of Active Listings:
14 18 (+13%)
Average Price of Active Listings: $1,479,278 $1,471,944
Average DOM of Active Listings: 95 81
Average $/Sq Foot (List) $581 $587
Active-Pending Ratio:
1.2 : 1 2.3 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 1-19-13.

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San Carlos Real Estate Summary.

The inventory of homes for sale in San Carlos inched upward slightly this past week with a handful of listings hitting the market.    The active-to-pending ratio rose above 1 for the first time in many months, as a bunch of the pending sales cleared from the books.  The current ratio of 2 is much healthier for the market than where it has been in the past, but with inventory still sitting below 20 there’s a dire need for more inventory for buyers to choose from.

The good news is that more will be coming online in the upcoming weeks.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 1-19-2013:

San Carlos Housing Data 1-19-13 Prior Week
Closed Sales for the Week:
 6 0
Average Sold Price
$1,243,321 $0 (+%)
Average $/Sq Foot (Sold)
$516 $0
Sold Price vs Orig List (%) 92% 0%
Average DOM of Closed Sales 50 0
No. of Homes Pending Sale: 8 13
Inventory of Active Listings:
18 16 (+13%)
Average Price of Active Listings: $1,471,944 $1,535,684
Average DOM of Active Listings: 81 86
Average $/Sq Foot (List) $587 $563
Active-Pending Ratio:
2.3 : 1 0.81 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 1-12-13.

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San Carlos Real Estate Summary.

This past week yielded some encouraging news for San Carlos buyers — 7 new listings hit the market, which is a good start to the early-spring buying season.  Hopefully, more listings will follow in the coming weeks to help alleviate some of the pent-up demand and restore some balance and sanity into the market.  Until that happens, I think you’re going to see some instances of some pretty crazy bidding like we did this past week.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 1-12-2013:

San Carlos Housing Data 1-12-13 Prior Week
Closed Sales for the Week:
0 7
Average Sold Price
$0 $1,485,841 (+%)
Average $/Sq Foot (Sold)
$0 $542
Sold Price vs Orig List (%) 0% 89%
Average DOM of Closed Sales 0 46
No. of Homes Pending Sale: 13 11
Inventory of Active Listings:
16 11 (+45%)
Average Price of Active Listings: $1,535,684 $1,699,100
Average DOM of Active Listings: 86 123
Average $/Sq Foot (List) $563 $554
Active-Pending Ratio:
0.81 : 1 1 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 1-5-13.

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San Carlos Real Estate Summary.

2013 is officially here, and it appears to be off to an active start.   There are quite a few closed sales in the report below, but most of them came in under the wire in 2012 just after the last weekly report was published.  Those will all be tabulated in the 2012 Year in Review post that will be on the site by tomorrow.

If you want an indication of how competitive the San Carlos real estate market is going to be in 2012, you only needed to stop by the open house at 868 Cordilleras Avenue this past weekend.   Parking was non-existent, and the open house was packed with wall-to-wall people the entire weekend.   That’s the benefit of being the only new listing in a severely unbalanced market.  If you’re indecisive about putting your home on the market in January, that should be all the guidance you need.

Here are the numbers from last week:

By The Numbers.

Below is a high-level snapshot of the market performance for single-family residences in San Carlos. This data is for the week ending 1-5-2013:

San Carlos Housing Data 1-5-13 Prior Week
Closed Sales for the Week:
7 0
Average Sold Price
$1,485,841 $0 (+%)
Average $/Sq Foot (Sold)
$542 $0
Sold Price vs Orig List (%) 89% 0%
Average DOM of Closed Sales 46 NA
No. of Homes Pending Sale: 11 16
Inventory of Active Listings:
11 12 (-8.3%)
Average Price of Active Listings: $1,699,100 $1,863,329
Average DOM of Active Listings: 123 119
Average $/Sq Foot (List) $554 $549
Active-Pending Ratio:
1 : 1 0.75 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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