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The San Carlos Real Estate Week in Review: 5/2/2016.

The San Carlos Week in Review is the only in depth weekly recap of the San Carlos real estate market, and it’s available every week on the White Oaks Blog.

New Listing: 29 Hillcrest Road, San Carlos.

29 Hillcrest Road is my latest listing in San Carlos. This fabulous home has stunning views of the San Francisco Bay, and boasts a extremely functional layout.

Dwell Realtors to Sponsor Beach Volleyball at Hometown Days

1st Annual Beach Volleyball Tournament. San Carlos is a pretty physically fit town.  Every year, it seems like more and more athletic teams are popping up across the city, and there are numerous leagues for us older weekend warriors to kid ourselves that we can actually still compete in athletic …

Map of San Carlos Regions

The Realtor Zones. When it comes to residential real estate, the City of San Carlos is divided up into 6 different real estate “zones”: Alder Manor (Area 350), Beverly Terrace (351), El Sereno Corte (352), Howard Park (353), Clearfield Park (354), and Cordes (355). When a home is for sale …

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The San Carlos Real Estate Week in Review: 4/4/2016.

April

The Scoop.

The San Carlos real estate market snapped back into its normal Spring form this week after the Easter break. There were seven new single family home listings to hit the market, but even with the surge of listing activity the inventory of single family homes to choose from in San Carlos is still sitting at only at 17 as of this morning. That’s because five homes went into contract during the same period. Interestingly, two of the five sold within the first three days of being on the market. That means there’s lots of activity, but still no inventory is being established.

For the third straight week, we will be dealing with some form of Spring break. This time it’s the local public schools that will be off for the week, so we will have to see if it has a negative effect on the market activity, since many San Carlos families will ducking out of town for the week.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 4/3/2016:

San Carlos Housing Data 4/3/16 Prior Week
Closed Sales for the Week: 3 1
Average Sold Price: $1,641,667 $1,510,000
Average $/Sq Foot (Sold) $791 $1,228
Average Sold as Percentage Of List Price: 106% 117%
Average DOM of Closed Sales 16 12
Total # of Homes Pending Sale: 20 17
No. of New Listings: 7 1
Total # of Active Listings: 17 14
Average Price of Active Listings: $2,176,231 $2,203,280
Average DOM of Active Listings: 25 27
Average $/Sq Foot (List) $895 $839
Active-Pending Ratio: 0.8 : 1 0.8 : 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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New Listing: 29 Hillcrest Road, San Carlos.

entrance small

Spectacular Bay Views.

I am pleased to announce my latest listing that will debut on the market this weekend — 29 Hillcrest Road in San Carlos.  One of the many great things about San Carlos is that certain streets in the city afford you some of the most amazing views of the San Francisco Bay of any place along the Peninsula. Hillcrest Road is one of those special streets.

The views from the back or 29 Hillcrest are absolutely sublime. You get a completely unobstructed panoramic view that starts with the San Francisco skyline, and extends all the way past San Jose and toward the Santa Cruz Mountains.  It’s simply that good.  Here are a few great pictures that still don’t quite do it justice:

view1c

view1a

deck1a

But the views alone are not what make this house special. Custom-built only 17 years ago, this home was very thoughtfully planned to include the amenities that many home buyers are really looking for today:

  • 4 bedrooms, including a spacious master suite.
  • 2 full bathrooms, with an additional 1/2 bath.
  • Formal living room and dining room.
  • Updated kitchen with granite counters and hardwood floors.

The layout of this home was well designed too. All four bedrooms are on the same level together, and can easily be configured as a home office, nursery, or a hobby area. This is an ideal set-up for parents with small children that want the bedrooms in close proximity.

And speaking of bedrooms, yes – the master suite also gets those fabulous views:

master-bedroom

The location of this home is excellent as well. It’s only a short hop to the thriving San Carlos downtown shopping and dining district and the Caltrain station. According to the respective school websites, 29 Hillcrest Road falls within the Arundel Elementary, Tierra Linda Middle, and Carlmont High School boundaries, which is the high on many home buyer’s list. Of course, you need to verify the enrollment and boundaries for yourself 😉

Want to See More?

As I do with all of my listings, you are able to take an interactive 3D tour throughout 29 Hillcrest Road by using the Matterport Scan below.  Simply click on the screen, and let your keyboard arrows or mouse guide you through the home:

For a full gallery of the color photos click here:   29 Hillcrest Road Photo Gallery

Open House.

29 Hillcrest Road will be open this weekend from 1:00 – 4:00PM on both Saturday and Sunday. You have to see this home to truly appreciate what it has to offer. Be sure to stop by and check it out!
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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: 3/28/2016.

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The Scoop.

The Easter weekend had the expected dampening effect on new listings in San Carlos. Only one new home tested the market last week, since most home sellers wisely avoid Easter Sunday as their debut to the market. I fully expect that the pace of new listings will pick up considerably this week, especially the latter part leading into the open house weekend.

Home buyers were not deterred by the holiday weekend, however. Six homes went into contract last week, thus dropping our inventory back down to the mid-teens. Interestingly, two of these listings required reductions from their original list price in order to sell. This has become a more common occurrence in San Carlos the past few weeks, and it’s indicative of a market that is a bit more fickle and choosy than perhaps it was at this time last year. It will be interesting to see if this trend continues now that we are in the thick of the Spring market.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 3/27/2016:

San Carlos Housing Data 3/27/16 Prior Week
Closed Sales for the Week: 1 3
Average Sold Price: $1,510,000 $1,568,333
Average $/Sq Foot (Sold) $1,228 $891
Average Sold as Percentage Of List Price: 117% 103%
Average DOM of Closed Sales 12 6
Total # of Homes Pending Sale: 17 12
No. of New Listings: 1 6
Total # of Active Listings: 14 20
Average Price of Active Listings: $2,203,280 $2,023,299
Average DOM of Active Listings: 27 18
Average $/Sq Foot (List) $839 $844
Active-Pending Ratio: 0.8 : 1 1.7 : 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: 3/21/2016.

Easter 2016

The Scoop.

For the second straight week, a strong push in new listings has lifted the inventory of single-family homes for sale in San Carlos upward. With 7 new listings hitting the market last week and only 4 going into contract, there are now 20 single-family homes for sale in San Carlos. While this is still certainly a fraction of what we would normally see at this time of year, it’s still at a level that we haven’t crossed in quite a few months. Inventory has languished in teens for so long that it seems noteworthy when it crosses the 20-mark.

The condo and townhouse inventory is also growing significantly. As of this morning, there are 11 units for sale across San Carlos, and more coming online this week. Again, this is not a staggering number by historical standards, but when you consider that only 3 weeks ago there was not a single unit for sale, this marks a significant upward push in new inventory.

The continued push in listings may take a temporary breather this week, however, since Easter Sunday is this coming weekend. It’s one of those years where Easter actually falls within March. But regardless of when Easter falls, it’s always a tough weekend to have the first open house since a big portion of the buying population is preoccupied that weekend. Because of this, some sellers may opt to wait an additional week.

The other noteworthy statistic this week is that the average asking price of a single-family home in San Carlos has once again crossed the $2,000,000 mark (this calculation even excludes the $19M listing on Alameda, since that would really skew the data.) This is certainly helped by the fact that 3 of the 7 new listings to debut this past week are asking over $2M.

Home sellers in San Carlos (and their agents) are obviously growing more comfortable with listing their homes above $2,000,000. At this time in 2015, only 5% of the homes that listed since the beginning of the year started at a price above $2,000,000.

So far in 2016 with roughly the same number of listings, that number is a whopping 27%. That’s some serious price growth in just one year.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 3/20/2016:

San Carlos Housing Data 3/20/16 Prior Week
Closed Sales for the Week: 3 4
Average Sold Price: $1,568,333 $1,695,000
Average $/Sq Foot (Sold) $891 $852
Average Sold as Percentage Of List Price: 103% 96%
Average DOM of Closed Sales 6 27
Total # of Homes Pending Sale: 12 10
No. of New Listings: 6 5
Total # of Active Listings: 20 17
Average Price of Active Listings: $2,023,299 $1,989,727
Average DOM of Active Listings: 18 19
Average $/Sq Foot (List) $844 $814
Active-Pending Ratio: 1.7 : 1 1.7 : 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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Saint Francis Way Traffic Calming: Too Much of a Good Idea?

Slow

Solving a Chronic Problem.

Traffic density and speeding on neighborhood streets have both been problematic issues in San Carlos for many years — it has certainly been that way for the 27 years that I have lived here, and very likely even longer. These problems stem from two main causes: The rapid growth that this city has encountered since it was first founded, and the design and layout of the streets that traverse city.

During the latter half of the past century, San Carlos grew by leaps and bounds as neighborhood subdivisions sprouted up on the west side of Alameda where once there were only farmland and pastures. Even the high school was razed in favor of more houses up on the hill. And most recently, the booming tech economy has effectively pushed the population of San Carlos to all-time highs.

But despite this huge increase in population, the streets of San Carlos remain largely unchanged from the way they were originally designed. This is especially true in the flats, where the majority of the traffic that travels across San Carlos ultimately goes down just a handful of streets.  San Carlos Avenue, Brittan Avenue, Howard Avenue, Saint Francis Way, and Eaton Avenues handle most of the traffic that runs toward downtown — while Elm Street, Cedar Street and Alameda de las Pulgas, and Crestview Drive are the main thoroughfares for traffic that runs parallel to El Camino.

If you happen to live on any one of these streets, then you already know that dealing with the sheer density of traffic and the accompanying speed is a daily challenge.

I know this firsthand — I have had two of my own cars plowed into while they were parked in front of my house. One of the cars suffered significant damage, the other was completely totaled (along with the other two cars involved in the “accident.”) Both mishaps were attributed to excessive speed. So I get the frustration, believe me.

Calming Measures.

During the years of budget deficit that eventually led up to the outsourcing of police services to the San Mateo Sheriff’s Department, traffic enforcement was cut to save money and headcount. But even with a fully staffed traffic enforcement department, monitoring these chronically busy and fast streets full time with live bodies was simply not practical, so the city began investigating other “passive” ways to slow down the traffic in residential neighborhoods. >>> 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: 3/14/2016.

March Calendar

The Scoop.

For the first time in a quite a few months, it was not a banner week for home sales in San Carlos. Three of the four homes that closed escrow this past week did not get full list price. The average percentage of sales price to list price topped out at 96% — certainly nothing to cry about, but also very un-San Carlos when we have grown accustomed to seeing over 110% on a regular basis.

Another number that hit a level that we haven’t seen in quite a while is the active-pending ratio.  At the start of this week it’s sitting at 1.7, which means there are nearly two active listings for each one pending. In other words, this is an indicator that are starting to build up some inventory, which is certainly the case as we now have 17 active single-family residence listings in San Carlos. This is also a level we have not seen in quite a while, but something that you might expect as we enter the main period of the Spring real estate market.

Cause for concern?  Not necessarily. The surprisingly lackluster performance of those closed sales was just as much a function of coincidence that they all closed in the same week as it was any solid indicator that the market may be topping out. Looking at the 10 homes that are pending sale right now, quite a few of them fetched nice premiums over the asking price, which will show up in the coming weeks when they close. So clearly, buyers still have a strong appetite for homes with the right stuff.

But what this does show is that there is  certainly an upper limit to what buyers are going to spend on homes that may not be completely dialed in, which is something that sellers and agents will need to keep in mind as they set prices on new listings.

Here is a look at last week’s numbers:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 3/13/2016:

San Carlos Housing Data 3/13/16 Prior Week
Closed Sales for the Week: 4 3
Average Sold Price: $1,695,000 $1,475,000
Average $/Sq Foot (Sold) $852 $1,152
Average Sold as Percentage Of List Price: 96% 103%
Average DOM of Closed Sales 27 16
Total # of Homes Pending Sale: 10 12
No. of New Listings: 5 6
Total # of Active Listings: 17 12
Average Price of Active Listings: $1,989,727 $1,914,967
Average DOM of Active Listings: 19 19
Average $/Sq Foot (List) $814 $881
Active-Pending Ratio: 1.7 : 1 1.0 : 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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February 2016 Home Sales in San Carlos.

FebSales

Just as we did earlier in the week when we posted the January home sales in San Carlos, we’re getting caught up for the year by tabulating the home sales for the month of February below. The results, not surprisingly, are very similar to the what we analyzed in the January numbers: Growth, and lots of it.

There were some simply stunning premiums paid over the asking price for a number of the homes below, most notably the $500,050 extra that 620 Terrace Road fetched, and the nearly 29% upside that 27 Bayport Court reeled in.

Below is the list of the all of the single-family homes that sold during the month of February 2016 in San Carlos.  Click on the addresses to see the complete details of each of these homes:

Address Sold Price Orig. List Difference DOM (days)
1985 Carmelita Drive $3,600,000 $3,600,000 $0 (0%) 0
112 Wildwood Avenue $2,725,000 $2,249,000 +$476,000 (+21.2%) 9
620 Terrace Road $2,400,000 $1,899,950 +$500,050 (+26.3%) 5
133 Plymouth Avenue $2,200,000 $2,200,000 $0 (0%) 0
2668 Thornhill Drive $2,170,000 $2,268,000 -$98,000 (-4.3%) 154
2079 Alma Street $2,100,000 $1,695,950 +$404,050 (+23.8%) 7
238 Loma Road $2,050,000 $1,698,000 +$352,000 (+20.7%) 8
2015 Eaton Avenue $1,950,000 $1,728,000 +$222,000 (+11.4%) 16
1089 Hewitt Drive $1,876,000 $1,488,000 +$388,000 (+26.1%) 15
10 Valley Road $1,835,000 $1,835,000 $0 (0%) 0
27 Bayport Court $1,670,000 $1,300,000 +$370,000 (+28.5%) 7
2202 Carmelita Drive $1,635,000 $1,568,000 +$67,000 (+4.3%) 8
2220 San Carlos Avenue $1,588,000 $1,288,000 +$300,000 (+23.3%) 17
205 Oakview Drive $1,425,000 $1,395,000 +$30,000 (+2.2%) 5
1925 Howard Avenue $1,380,000 $1,349,000 +$31,000 (+2.3%) 12
1450 Alameda de las Pulgas $1,350,000 $1,189,500 +$160,500 (+13.5%) 3
1647 Walnut Street $1,250,000 $1,049,000 +$201,000 (+19.2%) 10

2016 vs 2015.

Below is a high-level view of the market performance for single-family residences that sold in San Carlos in February of 2016 compared to the same period in 2015:

San Carlos Housing Data Feb 2016 Feb  2015
Closed Sales: 17 23
Average Sold Price: $1,993,471 $1,620,130
Average $/Sq Foot (Sold) $997 $843
Average Sold as Percentage Of List Price: 113% 112%
Average DOM of Closed Sales 16 15

Just like we saw in the January data, home prices in February posted huge gains over the prior year. The average price for a single-family San Carlos home in February skyrocketed by 23% from the previous year, while the average price per square foot also shot upward, registering an 18.3% increase.

What was also fascinating is that of the 17 homes that closed in February, nearly half of those sold for over $2,000,000.  In fact, the calculated average sales price for all homes sold that month was just a whisker below $2,000,000 — quite possibly one of the highest average sales prices for any month on record.
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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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January 2016 Home Sales in San Carlos.

Jan Sale

A Summary.

In a manner somewhat similar to listing recap that I do at the end of every month, I’m starting another new series on the blog where I will compile a summary of the homes that sell each month in San Carlos. Along with this list will be a summary of the data that should reveal some interesting trends in our housing market. As with all of the data that is presented on the site, the data in this series only accounts for those homes sales that were reported on the Multiple Listing Service (MLS) — private sales and those where the final sales price was withheld are excluded from the calculations.

So without further delay, below is a list of the single-family homes that closed escrow in January in San Carlos. In order to get the series caught up with the actual calendar, I will post February’s sales later in the week.

For more information on any of the properties, simply click on the address of each to see the complete details.  I hope you find this information useful…

Address Sold Price Orig. List Difference DOM (days)
2525 Nanette Drive $2,200,000 $1,599,000 +$601,000 (+37.6%) 18
20 Winding Way $1,870,000 $1,788,000 +$82,000 (+4.6%) 25
1230 Greenbrier Road $1,700,000 $1,799,000 -$99,000 (-5.5%) 21
1917 Saint Francis Way $1,650,000 $1,498,000 +$152,000 (+10.1%) 10
880 Buckland Avenue $1,595,000 $1,395,000 +$200,000 (+14.3%) 8
416 Hillcrest Road $1,590,971 $1,599,000 -$8,029 (-0.5%) 21
108 Ruby Avenue $1,450,000 $1,382,000 +$68,000 (+4.9%) 11
205 Oakview Drive $1,425,000 $1,395,000 +$30,000 (+2.2%) 5
106 Acacia Court $1,250,000 $1,225,000 +$25,000 (+2.0%) 21
1361 Hull Drive $1,175,000 $899,000 +$276,000 (+30.1%) 11

2016 vs 2015.

Below is a high-level view of the market performance for single-family residences that sold in San Carlos in January of 2016 compared to the same period in 2015:

San Carlos Housing Data Jan 2016 Jan 2015
Closed Sales: 10 11
Average Sold Price: $1,590,597 $1,309,518
Average $/Sq Foot (Sold) $945 $793
Average Sold as Percentage Of List Price: 110% 102%
Average DOM of Closed Sales 16 18

If you read this site on a regular basis, you’ll know that home prices in San Carlos have been on an steep upward trend for the past 5 years, so it should be no surprise to see this trend continue in 2016. The average price for a single-family San Carlos home in January jumped by a whopping 21.5% from the previous year. The average price per square foot increased at a similar rate, registering a 19.2% growth.
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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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