East San Carlos Prices on the Rise.
May 20, 2020
One Hot Region.
The Clearfield Park region of San Carlos, also known as the Greater East Side of San Carlos, has long been the most affordable neighborhood of San Carlos. For years, it was the “entry point” for home buyers who wanted to be in the flat lands of San Carlos, but couldn't quite afford the stiff prices in White Oaks and Howard Park.
With the drastic changes that have transformed the downtown shopping and dining section of San Carlos, suddenly Clearfield Park finds itself as one of the neighborhoods in San Carlos that's closest to what makes the downtown area so desirable — shopping, dining, and transit. Residents who live in the northern portion of Clearfield Park can literally walk two blocks and be smack in the middle of the north Laurel Street dining district, which is something that the vast majority of residents in White Oaks and Howard Park cannot lay claim to.
The combination of the proximity to downtown San Carlos and the lack of affordable housing throughout the city has made Clearfield Park a hot commodity over the past couple of years, and the home prices have certainly reflected this.
The chart below shows the average sales price for all single-family homes that have sold in the Greater East Side over the past 6 years:
Aside from the spike in 2018, which was largely skewed by three homes that fetched over $2M, home prices have been on a steady, linear climb for the past decade, and there doesn't appear to be anything that will temper this trend – maybe not even COVID-19. Already, this year there have been two sales that topped $1.9M: 327 Fairfield Drive at $1,949,000 and 347 Fairfield Drive at $1,910,000.
Living in this part of San Carlos is certainly not without its challenges. Since it has the highest concentration of industrially-zoned parcels in San Carlos, the residents of Clearfield Park have been forced to be vigilant about not letting their neighborhoods be swallowed up by massive multi-story apartment complexes and industrial parks. This vigilance has forged one of most organized and vocal citizen groups in city.
One thing is for certain — the Greater East Side is rapidly becoming a destination neighborhood in San Carlos, and if prices keep heading in the direction they are going, it will soon shed its “entry level” label.