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The San Carlos Real Estate Week in Review: 3-30-13.

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San Carlos Real Estate Summary.

I overheard a conversation this week between two agents that the market might actually be slowing down in San Carlos (no, this is not an April Fool’s joke).   I’m not quite sure where that perception came from — maybe it’s the fact that some of the recent sales were “only” getting 4-6 offers, instead of the lofty double-digit offer counts of some previous sales.  But if you want an indication of the temperature of this market this past week, just look at the Pending Sales section below.   Eight homes went pending last week — seven of those eight were gone in under two weeks.  One never had an open house.

It’s not slowing down, folks.  You heard it here first.

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 3-30-2013:

San Carlos Housing Data 3-30-13 Prior Week
Closed Sales for the Week:
5 6
Average Sold Price
$1,636,400 $1,004,000 (+63%)
Average $/Sq Foot (Sold)
$604 $685
Sold Price vs Orig List (%) 101% 106%
Average DOM of Closed Sales 19 10
No. of Homes Pending Sale: 27 22
Inventory of Active Listings:
10 14 (-29%)
Average Price of Active Listings: $1,288,200 $1,307,000
Average DOM of Active Listings: 10 13
Average $/Sq Foot (List) $626 $642
Active-Pending Ratio:
0.37 : 1 0.64 : 1

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The San Carlos Real Estate Week in Review: 3-23-13.

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San Carlos Real Estate Summary.

Nothing seemed to slow the runaway freight train that is the San Carlos real estate market this past week.   9 homes went into contract during the week, with some at some eye-popping prices.  You’ll be amazed to see the prices on both 199 Sycamore Street an 124 Chestnut Street when their final prices are posted.   But that will only remain a shocker until the next barrier is destroyed — In fact, the theme for San Carlos market should be “Last Week’s Insane is This Week’s Mundane.”   It was only a few weeks ago when we marveled at 148 Chestnut shattering the $1.3M mark for a 3BR home — now it’s looking like a bargain this 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 3-23-2013:

San Carlos Housing Data 3-23-13 Prior Week
Closed Sales for the Week:
6 9
Average Sold Price
$1,004,000 $1,208,444 (-17%)
Average $/Sq Foot (Sold)
$685 $653
Sold Price vs Orig List (%) 106% 108%
Average DOM of Closed Sales 10 40
No. of Homes Pending Sale: 22 20
Inventory of Active Listings:
14 13 (+7%)
Average Price of Active Listings: $1,307,000 $1,536,068
Average DOM of Active Listings: 13 28
Average $/Sq Foot (List) $642 $616
Active-Pending Ratio:
0.64 : 1 0.65 : 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: 3-16-13.

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San Carlos Real Estate Summary.

If you take good look at the section below titled “Single-Family Homes Sold in San Carlos”, you’ll see the kind of hard evidence that has defined the upswing in homes prices that we’ve experienced in San Carlos so far in 2013.  The 9 homes that closed escrow this week sold at a price that averaged 8% above the asking price, with one of them fetching a whopping 26% over list.  That’s a perfect snap shot of the housing market that we’re living in right now.

There was a solid showing this past week for new listings, with 7 homes making their debut on the market. But with nearly the same number going into contract, the inventory of homes for sale still sits at a paltry 13 at the time of this post.

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 3-16-2013:

San Carlos Housing Data 3-16-13 Prior Week
Closed Sales for the Week:
9 4
Average Sold Price
$1,208,444 $1,614,750 (-25%)
Average $/Sq Foot (Sold)
$653 $739
Sold Price vs Orig List (%) 108% 107%
Average DOM of Closed Sales 40 11
No. of Homes Pending Sale: 20 25
Inventory of Active Listings:
13 12 (+8%)
Average Price of Active Listings: $1,536,068 $1,469,072
Average DOM of Active Listings: 28 31
Average $/Sq Foot (List) $616 $602
Active-Pending Ratio:
0.65 : 1 0.48 : 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: 3-9-13.

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San Carlos Real Estate Summary.

There wasn’t too much in the way of new listings to hit the market this past week.  And with 4 more homes going into contract, the net result is that our inventory of homes for sale is stuck in the low teens — again.  One effect that we have touched on in recent weeks (and will continue to monitor) is the strong uptick in home prices in San Carlos.  As home sales for Q1 are now closing escrow, we’re starting to see evidence of where prices are headed.  Just this past week, the average price for the homes that sold jumped to an incredible $739/sq foot, which is an astounding leap over the already high $669/sq foot that was set last week.  It used to be extremely rare for any medium-large sized home break $700/sq foot in San Carlos.  In the coming months as you see these sales being reported, it’s going to become commonplace.

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 3-9-2013:

San Carlos Housing Data 3-9-13 Prior Week
Closed Sales for the Week:
4 4
Average Sold Price
$1,614,750 $1,312,839 (+23%)
Average $/Sq Foot (Sold)
$739 $669
Sold Price vs Orig List (%) 107% 111%
Average DOM of Closed Sales 11 9
No. of Homes Pending Sale: 25 24
Inventory of Active Listings:
12 13 (-8%)
Average Price of Active Listings: $1,469,072 $1,475,676
Average DOM of Active Listings: 31 25
Average $/Sq Foot (List) $602 $626
Active-Pending Ratio:
0.48 : 1 0.54 : 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: 3-2-13.

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San Carlos Real Estate Summary.

The good news is that the inventory of homes for sale in San Carlos rose by a whopping 63% this past week.  That bad news is that we only started off with 8 listings at the beginning of the week.  So the end result is that there’s still not nearly enough homes to choose from in San Carlos.   What’s interesting from the numbers this week is that we’re starting to see firm evidence of the abrupt increase in home prices in San Carlos.  There are two metrics this week that vividly demonstrate this:  The price per square foot jumped to a whopping $669/sq foot for homes that closed escrow this week, and they also fetched 11% above the asking price, on average.  I believe we’ll continue to see much more of this type of performance in the coming 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 3-2-2013:

San Carlos Housing Data 3-2-13 Prior Week
Closed Sales for the Week:
4 2
Average Sold Price
$1,312,839 $937,500 (+40%)
Average $/Sq Foot (Sold)
$669 $475
Sold Price vs Orig List (%) 111% 101%
Average DOM of Closed Sales 9 25
No. of Homes Pending Sale: 24 25
Inventory of Active Listings:
13 8 (+63%)
Average Price of Active Listings: $1,475,676 $1,528,299
Average DOM of Active Listings: 25 22
Average $/Sq Foot (List) $626 $596
Active-Pending Ratio:
0.54 : 1 0.32 : 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: 2-23-13.

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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

>>> 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.
Don’t miss a single update!
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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.
Don’t miss a single update!
_____________________________________________________________________________

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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
_____________________________________________________________________________

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.
Don’t miss a single update!
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