The San Carlos Real Estate Week in Review: 1-3-15.
January 5, 2015
Welcome to 2015 on the White Oaks Blog! There was not much activity to report from the prior week, which was to be expected since it was the final holiday week of 2014. But last week marked the close of what was the most dynamic real estate years in San Carlos in recent memory. We will take a look back at 2014 later this week in the blog, but suffice it to say that numerous real estate records were set last year in San Carlos and throughout the Peninsula. What's even more incredible is that many of these same records will likely be topped in 2015 if the market continues on its upward trajectory.
So here's to a prosperous New Year to all, and welcome back to another year on the White Oaks Blog. Thank you again for being loyal readers of the site.
Here are the details from last week:
By the Numbers.
Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 1-3-2015:
| San Carlos Housing Data | 1-3-15 | Prior Week |
|---|---|---|
| Closed Sales for the Week: | 3 | 5 |
| Average Sold Price: | $1,122,960 | $1,611,420 |
| Average $/Sq Foot (Sold) | $804 | $1,079 |
| Average Sold – Percentage Of List Price: | 100% | 112% |
| Average DOM of Closed Sales | 24 | 15 |
| No. of Homes Pending Sale: | 16 | 17 |
| No. of Active Listings: | 3 | 4 |
| Average Price of Active Listings: | $1,189,667 | $1,377,500 |
| Average DOM of Active Listings: | 32 | 24 |
| Average $/Sq Foot (List) | $804 | $752 |
| Active-Pending Ratio: | 0.19 : 1 | 0.24: 1 |
The San Carlos Open House Page.
If you're looking at open houses this weekend in San Carlos, check out the San Carlos Open House List. With one click on the Open House sign below, you'll get a “live” list of all the homes and condos that will be open this weekend in San Carlos! It's updated continuously from the MLS, so bookmark this link and you'll never have to wander around town looking for open houses again.
___________________________________________________________________
Single-Family Homes Sold in San Carlos:
Below is a list of the single-family home contracts that closed escrow this past week in San Carlos. Click on the address of each to see the complete details.
| Address | Sold Price | Orig. List | Difference | Days on Market |
|---|---|---|---|---|
| 2810 San Carlos Avenue | $1,320,000 | $1,374,888 | -$54,888 (-4.0%) | 31 |
| 203 Club Drive | $1,228,880 | $1,224,950 | +$3,930 (+0.3%) | 19 |
| 1031 Sylvan Drive | $820,000 | $799,950 | +$20,050 (+2.5%) | 25 |
___________________________________________________________________
San Carlos Homes Pending Sale for the Week:
The following homes went into contract his week. Click on the address of each home to see more details and photos:
| Address | DOM (days) | List Price |
|---|---|---|
| 954 Sunset Drive | 16 | $1,395,000 |
| 1153 Walnut Street | 9 | $1,395,000 |
Note: The pending data provided above is strictly for informational purposes only, and should not imply that the author was involved in either side of the transaction.
___________________________________________________________________
New Single-Family Home Listings in San Carlos:
Below are the new listings that hit the market this past week in San Carlos. Click on the address of each home to see more details and photos.
| Address | List Price | BR/BA | Sq Ft (home/lot) | Listed By |
|---|---|---|---|---|
| 1005 Cherry Street | $1,395,000 | 2BR/1BA | 870/5,000 | Tim Earley, Coldwell Banker |
Note: The listing data provided above is strictly for informational purposes only, and should not imply that the author is the listing agent.
___________________________________________________________________
Posted in:
Chuck,
I feel fortunate, whatever happens to the real estate market this year, to have cashed out in 2014.
After 11 years in San Carlos, we averaged almost $100k/year appreciation. While I think most people would not expect to best that return, there are people out there who think this activity will be indefinite.
There will be a slow down and I predict 2015 will be the year prices will level off, and even possibly drop. The supply remains tight, but a point will come when buyers will refuse to pay even higher prices. Lets see what happens if/when interest rates begin to rise…
While I am now in southern California, I still plan to follow the blog, you’re doing a great job informing the public.
Thanks Michael! Congratulations on your successful sale last year, and best of luck in SoCal. It will indeed be an interesting year for the Peninsula real estate market!
Chuck