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The San Carlos Real Estate Week in Review: 9-3-11.

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San Carlos Real Estate Summary.

This week marks the start of the fall real estate push in San Carlos.  If homeowners plan to get their homes sold before the Thanksgiving holiday, they know they have to get the home on the market sometime between now and mid-October.   Consequently, we historically see a surge in new listings in the first 2-3 weeks of September.  Buyers are certainly hoping that this part of history will repeat itself, because the inventory level is still below 50 homes in San Carlos.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 9-3-2011:

Inventory 9-3-11 Prior Week
Active Listings 49 45 (+8.8%)
Average Price of Active Listings $988,858 $1,017,234 (-2.8%)
Average DOM of Active Listings 75 73
No. of Homes Pending Sale 37 44 (-15.9%)
Ratio of Active:Pending 1.3 : 1 1.0 : 1

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The San Carlos Real Estate Week in Review: 8-27-11.

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San Carlos Real Estate Summary.

It has been a frustrating couple of weeks for home buyers in San Carlos.  Inventory levels have been slowly dropping over the summer, and it really seemed to hit a low this past week.   For most of the week, there were more homes in contract (pending sale) than there were active listings.   That doesn’t happen very often.   To look at it in a different way, during the past week there were more homes for sale in Belmont than there were in San Carlos (now San Carlos has 1 more on the market.)   Even the tiny, tony town of Woodside has a larger inventory (54) than does San Carlos (45).  But we’re only a week from Labor Day, which marks the beginning of the traditional fall market, so I expect there will be an uptick in listings in the next week or so.   (Stay tuned to the site for a announcement to this effect later in the week.)

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 8-27-2011:

Inventory 8-27-11 Prior Week
Active Listings 45 47 (-4.3%)
Average Price of Active Listings $1,000,946 $1,017,234 (-1.6%)
Average DOM of Active Listings 76 73
No. of Homes Pending Sale 44 45 (-2.2%)
Ratio of Active:Pending 1.0 : 1 1.0 : 1

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The San Carlos Real Estate Week in Review: 8-20-11.

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San Carlos Real Estate Summary.

I read somewhere this week that it might be turning into a buyer’s market in San Carlos.   I don’t think so.   All of the key metrics still point to a very competitive environment for buyers, which makes it very much a seller’s market.  Inventory is tight, with only 47 homes for sale.  And of the four homes that closed escrow last week, 3 sold for over list price — at an average stay on the market of only 6 days.   That’s not an environment that tells me that buyers are calling the shots.  Even homes that have been on the market for up to 3 months are starting to go into contract.   With the Fall market just a couple of weeks away, it will be interesting to see how the expected surge of new inventory will affect the pace of sales.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 8-20-2011:

Inventory 8-20-11 Prior Week
Active Listings 47 48 (-2.1%)
Average Price of Active Listings $1,017,234 $1,034,133 (-1.6%)
Average DOM of Active Listings 73 71
No. of Homes Pending Sale 45 43 (+4.7%)
Ratio of Active:Pending 1.0 : 1 1.1 : 1

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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog 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: 8-13-11.

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San Carlos Real Estate Summary.

The real estate market got a big shot in the arm this past week when the Federal Reserve announced that it will keep its rates near zero until 2013.  This essentially ensures that mortgage rates will remain at historically low levels during this period, and that’s always a good catalyst for folks to buy homes.  In my opinion, this move will largely nullify the effects of the wild ride the stock market has taken over the same period — at least with respect to the local real estate market.  If people feel assured that they can lock in a great long-term rate, then they’ll buy homes — regardless of what the stock market is doing during a given week.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 8-13-2011.

Inventory 8-13-11 Prior Week
Active Listings 48 54 (-11%)
Average Price of Active Listings $1,034,133 $999,658 (+3.4%)
Average DOM of Active Listings 71 66
No. of Homes Pending Sale
43 44 (-2.2%)
Ratio of Active:Pending 1.1 : 1 1.5 : 1

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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog 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: 8-6-11.

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San Carlos Real Estate Summary.

The market shrugged off one close call this week, as we avoided the default of our national debt by a matter of days.  This upcoming week, it must now digest the drop in the country’s credit rating in the wake of the latest financial problems.  All things considered, the San Carlos real estate market performed admirably in spite of all of these challenges.   Homes still sold briskly, with 4 homes going into contract after being on the market for about a week or less.  2211 Howard Avenue sold after getting 7 offers.  So clearly, many buyers are still bullish about the future.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 8-6-2011.

Inventory 8-6-11 Prior Week
Active Listings 54 59 (-8.5%)
Average Price of Active Listings $999,658  $1,031,521 (-3.1%)
Average DOM of Active Listings 66 65
No. of Homes Pending Sale
44 38 (+15.6%)
Ratio of Active:Pending 1.5 : 1 1.6 : 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog 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: 7-30-11.

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San Carlos Real Estate Summary.

There was a nice surge of new listings this past week, especially during the latter half.  The distribution in the price range of these 12 listings is fairly evenly spread, thus providing some new choices for buyers whether they’re in the $850,000 range, or as high as $1.5M.   Buyers are still making decisive moves on houses that they like — 3 of the 6 homes that went pending this week were on the market less than one week!

It should be a very interesting week coming up for the entire real estate market.  The specter of a default on our national debt could have serious consequences throughout the country.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 7-30-2011.

Inventory 7-30-11 Prior Week
Active Listings 59 51 (+3.0%)
Average Price of Active Listings $1,031,521  $1,023,584 (+0.8%)
Average DOM of Active Listings 65 67
No. of Homes Pending Sale
38 37 (+2.7%)
Ratio of Active:Pending 1.6 : 1 1.2 : 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog 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: 7-23-11.

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San Carlos Real Estate Summary.

We spent a fair amount of space on the site last week discussing pricing trends in San Carlos and specifically in the White Oaks neighborhood (look for additional neighborhoods next week).    One additional datapoint that was not discussed in that analysis is how homes are selling compared to their original list price.    In the last few weeks, as we’ve noted in the tables below, the majority of homes have been selling below their original list price — this week, 2/3 of the homes that closed did not fetch that price point, with the average sale fetching only about 96% of the price it was originally listed for.   That’s still a respectable number for other regions, but a little low by San Carlos standards.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 7-23-2011.

Inventory 7-23-11 Prior Week
Active Listings 51 52 (-1.9%)
Average Price of Active Listings $1,023,584  $1,034,669 (-1.1%)
Average DOM of Active Listings 67 65
No. of Homes Pending Sale
37 43 (-14%)
Ratio of Active:Pending 1.2 : 1 1.2 : 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog 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: 7-16-11.

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San Carlos Real Estate Summary.

Summer is in full swing in San Carlos, but you’d never know it by the weather!  The real estate market is in cruise-mode now, as you might expect in the summer months.  The number of available homes tends to drop, as fewer people put their homes on the market in July and August — that trend is certainly holding true, as the inventory dropped by over 10% just this week.   Also worth noting;  of the 9 home sales that closed this week, a whopping 78% were purchased below the original list price.   This is certainly in line with the trends we discussed in the mid-year report earlier this week.

Here’s a quick snapshot of the inventory of San Carlos single family homes as of 7-16-2011:

Inventory 7-16-11 Prior Week
Active Listings 52 58 (-10.3%)
Average Price of Active Listings $1,034,669
Average DOM of Active Listings 65 74
No. of Homes Pending Sale
43 47 (-8.5%)
Ratio of Active:Pending 1.2 : 1 1.2 : 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog 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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