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The San Carlos Real Estate Week in Review: 5/30/2016.

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.

The Streets of San Carlos.

What’s in a Name? You’ve undoubtedly noticed as you’re walking the streets of San Carlos — perhaps dropping your kids of at White Oaks School, taking the dog for an evening stroll, or just heading downtown for dinner — that the name of the street that you’re on is frequently …

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: 10-25-15.

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The Scoop.

You may have been wondering how much a 10,500 square foot flat lot in prime, central San Carlos would set you back. Well, this week you finally got your answer: $1,655,500 — which is the price that 1348 Cedar Street fetched after being purchased through the probate court system. This may sound like a shocking amount of money for what is basically dirt value, since the home that’s on the property now is essentially a tear-down. But oddly enough, this price didn’t surprise me nor any of my other colleagues who are also experts in the San Carlos real estate market. When this property first hit the market, I polled a few of them about how high this property could go and I got numbers anywhere from $1.6M to $1.75M. So it landed right about where we expected, which just goes to show you how quickly one can get desensitized to the prices that are being tossed around in this market. It’s an amazing piece of property in a great location, and I can’t wait to see what will become of it.

For the rest of the San Carlos market, it was a fairly lackluster week.  The upside of over $800,000 on the list price of 1348 Cedar served to put rest of the market positive territory in what would have otherwise been a negative performing week for closed sales – none of the other three homes that closed escrow this past week exceeded their original asking price, which is a first in quite some time.

Inventory didn’t change much, with only 4 new homes being offered for sale. That increase was offset by  the same amount of homes going into contract.

Here’s the recap from last week:

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 10-25-2015:

San Carlos Housing Data 10-25-15 Prior Week
Closed Sales for the Week: 4 2
Average Sold Price: $2,547,375 $2,240,00
Average $/Sq Foot (Sold) $968 $646
Average Sold as Percentage Of List Price: 120% 107%
Average DOM of Closed Sales 41 12
No. of Homes Pending Sale: 24 24
No. of New Listings: 4 4
Total # of Active Listings: 13 14
Average Price of Active Listings: $1,985,376 $1,815,982
Average DOM of Active Listings: 24 24
Average $/Sq Foot (List) $876 $834
Active-Pending Ratio: 0.54 : 1 0.58 : 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: 10-18-15.

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The Scoop.

Buyers were certainly busier than sellers last week in the San Carlos real estate market. Seven single-family homes were purchased last week, while only four new listings hit the market. That effectively dropped the inventory of homes for sale back down to 14 as we start the new week.

You’ve probably noticed that it’s getting darker quite a bit earlier each night. This makes it increasingly difficult to view properties after work hours during the week. This will be especially noticeable when Daylight Savings ends at the end of this month. That means seeing the home during daylight hours will be more of a challenge for many working couples. It also becomes a legitimate reason for sellers to leave their home on the market for slightly longer to allow those necessary extra showings.

It’s just one of many things that makes the Fall real estate market just a bit different from other times in the year.

Here’s the recap from last week:

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 10-18-2015:

San Carlos Housing Data 10-18-15 Prior Week
Closed Sales for the Week: 2 6
Average Sold Price: $2,240,00 $1,847,833
Average $/Sq Foot (Sold) $646 $1,089
Average Sold as Percentage Of List Price: 107% 121%
Average DOM of Closed Sales 12 13
No. of Homes Pending Sale: 24 19
No. of New Listings: 4 7
Total # of Active Listings: 14 16
Average Price of Active Listings: $1,815,982 $1,870,417
Average DOM of Active Listings: 24 16
Average $/Sq Foot (List) $834 $781
Active-Pending Ratio: 0.58 : 1 0.71 : 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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$2M Home Sales in San Carlos – An Update.

2M

The Top Tier.

Among the many metrics that I track to gauge the trajectory of the San Carlos real estate market, the number of homes that sell at or above $2,000,000 is one of the more interesting ones – especially over the past 3-4 years. That’s because it’s not only a good measure of where home prices are going in San Carlos, but also a measure of buyer’s reluctance (or lack thereof) in the top end of the local market. After all, if a buyer can easily afford a home for over $2M, there are probably other options for them out there besides just the City of Good Living.

As we have tracked through the course of this year, the number of $2,000,000 home sales that have been listed on the MLS actually doubled from 2013 to 2014. Will that happen again this year? That may be a bit of stretch with less than 3 months left in calendar year. But from the chart below, you can see that we’ve already handily exceeded last year’s total of $2M sales as of today, and there are a number of pending sales that will close in the coming weeks and months that will fall into this elite bracket to boost that number even higher.

 

$SC $2M Sales 10-15

There are already 33 homes to close higher than $2M so far this year, which is nearly triple the number from just two years ago. It’s also interesting to note that there are another 10 home sales that just missed $2M mark by 5% or less. Buyers clearly are not concerned about breaking the $2,000,000 mark to live in San Carlos, where the average price of a home now hovers around $1.8M.  As more of the larger and updated homes start to roll out on the market, $2M will become more the rule, and less the exception.
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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: 10-11-15.

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The Scoop.

Last week I posted some alarming statistics about the number of new listings that have hit the market so far in 2015, and how that number is over 21% below the same period last year – which was also a lean year for listings. When the market is starved like this, it results in mind-numbing numbers like you see below in the summary table: $1,089 per square foot, 121% of the asking price, and an average sales price of nearly $1.85M.

It also shows the whipsaw behavior of the Fall real estate market. Only one week prior, homes fetched only 7% over the asking price and $846 per square foot on average, and spent twice as long on the market. It should serve as good data for buyers that even though the market may have cooled a slight bit, there is still strong competition for what home buyers deem to be the “right” place.

Here’s the recap from last week:

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 10-11-2015:

San Carlos Housing Data 10-11-15 Prior Week
Closed Sales for the Week: 6 6
Average Sold Price: $1,847,833 $1,791,869
Average $/Sq Foot (Sold) $1,089 $846
Average Sold as Percentage Of List Price: 121% 107%
Average DOM of Closed Sales 13 25
No. of Homes Pending Sale: 19 21
No. of New Listings: 5 7
Total # of Active Listings: 16 15
Average Price of Active Listings: $1,870,417 $1,861,982
Average DOM of Active Listings: 16 14
Average $/Sq Foot (List) $781 $834
Active-Pending Ratio: 0.84 : 1 0.71 : 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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2015 San Carlos Art and Wine Faire is This Weekend.

Art and Wine 2015

25th Anniversary.

San Carlos, it’s that time of year again — the leaves are turning, the days are getting shorter, and rain is on the way.  Well, two out of three is not bad… But that means that Fall is here, and that also means it’s time for that venerable institution known as the San Carlos Art and Wine Faire, once again sponsored by the San Carlos Chamber of Commerce. This year marks the 25th Anniversary of this extremely popular event.

It all takes place this coming weekend, October 10-11, and pretty much all of north Laurel Street and numerous side streets will be taken over with booths full of wine, art, and of course, more wine. There will also be musical entertainment in a variety of places downtown. Here’s the schedule:

ENTERTAINMENT SCHEDULE:

Laurel Street Park
Saturday
• 11:-00-1:30 Toree McGee & Rodeo House (rockin’ country)
• 2:30-5:30 Caravanserai (Santana Tribute band)

Sunday
• 11:00-1:30 The E-Ticket Band (rock-n-roll)
• 2:30-5:30 Aja Vu/Stealin’ Chicago (Steely Dan and Chicago Tribute)

San Carlos Avenue Stage
Saturday
• 12:00-2:30 The Groove (70’s Rock)
• 3:30-5:30 The RiPTides- (60’s Rock)

Sunday
• 12:00-2:30 Stompy Jones– (Swing)
• 3:30-5:30 KickBack (R & B Soul)

So be sure to head downtown this weekend, and catch up with all of your San Carlos neighbors. The weather should be spectacular, and the wine will be flowing!
_____________________________________________________________________________

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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Q3 San Carlos Listings Update: An Epic Drought.

Drought

Elusive Inventory.

Three quarters are now in the books for what has been a very eventful 2015 for the San Carlos real estate market — there never seems to be a dull moment. There are a variety of statistics and metrics that one can observe to try to get a read on what’s happening in the local market, but none is more telling than analyzing the number of new listings and its a stat that I post quite often on blog because it tells so much about what’s going on.

New listings are the “supply” in the classic “supply and demand” economic theory — a shortage of supply means higher prices, and an abundance of inventory points to the opposite direction. Right now in San Carlos, the pipeline that feeds our inventory of homes for sale is at its lowest level in the past decade.

The chart below shows the number of new single family residence listings for the first nine months of 2015, and compares it to the same 9-month period of previous years.

SC New SFR Listings - 9:15

The number of homes to list so far in 2015 is down by a whopping 21% from just last year – which was already a lean year by historic standards.  If you compare this year to 2011 when we were starting to emerge from the Great Recession, we have 37% fewer homes to choose from.  That’s essentially the definition of choking off a market.

This has to be discouraging news for buyers who have been battling low inventory levels and high competition all year. As we head in to the fourth quarter of 2015, there’s no indication that this trend is going to change from what is typically a slower quarter for new listings.

If there is a sliver lining in this cloudy forecast, it’s this: The market appears to be settling somewhat this fall, even despite the historically low number of new listings to choose from. Whether buyers are just exhausted with the process, or they are just less bullish on the overall state of the market, we are sensing a little relief in the pressure on the market right now all along the Peninsula.  This is a topic that we’ll dig a little deeper into next week on the blog, but for now buyers that decide to stay on task this fall might be surprised at how well they do.

Thinking about buying a home in San Carlos? Let’s talk about how we can get you into one before the holidays…
_____________________________________________________________________________

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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818 Knoll Drive, San Carlos: The Best of the Best.

818 Knoll Drive small

Exceptional Home, Exceptional Street.

One of the things that makes San Carlos so appealing to home buyers is that you can literally throw a dart a a map of the city and you’re virtually guaranteed to hit a great street, or a highly desirable neighborhood. It’s not every city on the Peninsula that can make that claim. But there are a handful of streets (and even just blocks within streets) in San Carlos that I believe stand head and shoulders above the rest — literally, the “Best of the Best.”

The 1900 block of Carmelita certainly makes the list, as do the 900-1000 blocks of Rosewood Avenue. And what discussion about top streets in San Carlos would be complete without mention of Morse Boulevard?

Another street that makes everyone sit up and take notice when there’s a new listing is Knoll Drive. With its fabulously rustic feel, large lots, and close proximity to downtown, Knoll Drive is one of those destinations that home buyers will wait for years to a home to hit the market.

Well, that opportunity has finally arrived. My business partner Bob Bredel’s new listing at 818 Knoll Drive is quite simply one of the best listings to hit the market in San Carlos in a number of years when you consider all of the factors — the home, the lot size, and the location.

Contemporary Elegance.

818 Knoll Drive has been completely updated throughout, and is a masterpiece of contemporary styling. But unlike other modern homes that may seem almost cold and sterile, this home strikes a perfect balance between new-age design and comfortable, elegant living. And if you love a home with copious amounts of natural light, this is the place for you.   Here are a few pictures of this marvelous home:

Knoll-1 Knoll-2Knoll-3The home is situated on a beautiful, 12,300 square foot lot that captures that rustic feel that defines Knoll Drive, and makes it such unique street in San Carlos.

The Matterport Virtual Tour.

As Bob and I offer with all of our listings, there is an amazing and immersive virtual tour of this home utilizing the Matterport 3D scanning technology. This enables you to take a “virtual walk” to every corner within the home, and then see each room from whatever perspective that you choose. This allows you to see every aspect of the home before you ever step foot inside, and it’s this kind of ground-breaking technology that sets all of our listings apart from the rest.

Click on the viewer below and take a virtual stroll through 818 Knoll Drive. To bring the viewer up in a separate window, simply click here.

If you’re interested in a private showing of this truly special San Carlos home, just contact Bob or myself. But don’t wait too long — homes as special as this one don’t hit the market that often.
_____________________________________________________________________________

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: 10-4-15.

Calendar

The Scoop.

Last week started out with a giant goose egg for new listings in San Carlos, with nothing new posting on the market until Friday. This occurs every so often, and understandably makes home buyers a little nervous since they are at least expecting something new to hit the market on Monday, which along with Friday are traditionally the two most active days for new listings.

But never fear – by the end of the weekend, there were 7 new single-family listings in San Carlos to offset the 7 homes that went pending during the week. And the wait was well worth it, because there are some simply spectacular homes to see right now — and interestingly, over half of these homes for sale right now in San Carlos have at least 4 bedrooms. That’s certainly much greater than the typical distribution of housing stock in town, and bodes well for home buyers who have been holding out for that crucial 4th bedroom. If you’re one of those home buyers that needs the extra bedroom and space, this is a good week to get out and look at some homes.

Here’s the recap from last week:

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 10-4-2015:

San Carlos Housing Data 10-4-15 Prior Week
Closed Sales for the Week: 6 4
Average Sold Price: $1,791,869 $1,742,000
Average $/Sq Foot (Sold) $846 $914
Average Sold as Percentage Of List Price: 107% 114%
Average DOM of Closed Sales 25 10
No. of Homes Pending Sale: 21 20
No. of New Listings: 7 2
Total # of Active Listings: 15 16
Average Price of Active Listings: $1,861,982 $1,720,859
Average DOM of Active Listings: 14 19
Average $/Sq Foot (List) $834 $827
Active-Pending Ratio: 0.71 : 1 0.8 : 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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