Arn Cenedella

Archive for the 'San Carlos Real Estate' Category

San Carlos real estate market picks up in Q2 2010

The San Carlos single family home market had an excellent second quarter in 2010.

Roll cursor over chart below to get numeric data.

Here are the market metrics:

Median price in San Carlos increaeed 3.1% to $895,000 from $868,500.
Average price in San Carlos increased 6.8% to $985,159 from $922,456.
The number of homes sold in San Carlos jumped 108.3% to 75 from 36.
The number of pending home sales in San Carlos increased slightly 6.7% to 32 from 30.
Average days on market in San Carlos dropped slightly 3.2% to 34 from 35.

Twice as many homes sold in San Carlos in the second quarter of 2010 compared to the first quarter.

New listings in White Oaks San Carlos

There were several good listings in White Oaks today on tour.

1966 St. Francis Way is listed at $719,000. 2/1 1270sf house 5500sf lot.

Solid good bones good quality rancher with good room sizes.

We're sorry, but we couldn't find MLS # 81031730 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

1966 St Francis Way is now pending – one week on market!

As I noted, an excellent value for a superb location in White Oaks.

There were two new listings on Kelton Avenue, one of White Oaks’ nicer streets – only two blocks long with little thru traffic – walk to White Oaks Elementary.

231 Kelton Avenue is listed at $949,000. 3/2 1,540sf house 5,750 lot sf.

Nicely updated and in wonderful condition. Charming.

We're sorry, but we couldn't find MLS # 81031765 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

231 Kelton Avenue also has sold right away – excellent updated 3/2 on on a great street.

253 Kelton Avenue is listed at $1,180,000. 4/2.5 2,504sf house 4,400sf lot.

Two story home with additions. Lots of square footage.

This listing will be an interesting case study on the White Oaks market. This property was last purchased in October 2007 for $1,180,000 and was put back on the market in June 2008 at a list price of $1,289,000. Property has been off and on market for since that time and is now listed at the sales prices in 2007.

253 Kelton Av, San Carlos, CA 94070 (MLS # 81031038)

(all data current as of 9/2/2010)

Price	$1,099,000
Beds	4
Baths	2 full, 1 part baths
Home size	2,475 sq ft
Lot Size	4,400 sq ft

Remodeled White Oaks home, fabulous contemporary kitchen, large family room, bonus room, large laudry mud room, hardwood floors, fireplace in living room,separate private patio, landscaped yards. One of the most desired blocks in all of White Oaks. Fabulous neighborhood.

Property Type(s): Residential, Detached Single Family

Last Updated	8/23/2010	Tract	n/a
Year Built	1947	Community	El Sereno Corte Etc.
Garage Spaces	2.0	County	San Mateo
Total Parking	2

Price History

Prior to Jul 26, '10	$1,180,000
Jul 26, '10 - Aug 3, '10	$1,150,000
Aug 3, '10 - Today	$1,099,000

Features

Additional Info	Not Applicable / Not Disclosed
Bathroom Features	Tub with Jets
Bedroom Description	1 Master Bedroom Suite
Cooling	No Cooling
Family Room	Separate Family Room
Fire Place_Details	Wood Burning Fireplace
Fireplace Location	In Living Room
Floor Covering	Hardwood
Formal Dining Room	Living Rm/Dining Rm Combo
Foundation	Concrete Perimeter
Garage Parking	2 Car Garage, Attached
Has Fireplaces	Fireplace
Has Pool	No Pool
Heating	Central Forced Air Heat, Gas Heat
Horse Property	No
In Formal Dining Room	Breakfast Bar
Levels	2 Stories
Listing Status	Active
Listing Status_Code	Active
Listing Type	Exclusive Right to Sell(ER)
Lot Description	Level Lot
Lot Size Range	1 to 4, 500 SqFt
Property Style	Traditional
Property Type	Detached Single Family
Property_Inclusions	1 Dishwasher, 1 Refrigerator, Built-In Oven, Cooktop Range, Disposal, Microwave Oven
Roof	Composition
Sewer Septic	Sewer in & Connected
Shower	2 or More Stall Showers
Shower Tub	1 Shower over Tub
Tub	1 Tub
View	Neighborhood View
Warranty Info	No Home Warranty
Water	City/Public Water
Yard Grounds	Patio

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with David Young, Coldwell Banker-San Carlos

(view all details for MLS # 81031038)

 

Below you can see median price in the 2nd highest of four price quartiles.

In October 2007,  median price in this quartile was $1,300,000.

Now it is $1,050,000.

Here is the data for the 3rd out of 4 quartiles.

San Carlos Real Estate Week in Review June 13

8 new single family home listings came on the market this past week in San Carlos.

To view these new listings in San Carlos, click here.

9 single family homes in San Carlos went pending sale this week.

59 single family homes in San Carlos are currently for sale.

37 single family homes in San Carlos currently have pending sales.

62.7% pending to active ratio in San Carlos.

For San Carlos market data, click here.

Monthly Home Sales: Palo Alto, Menlo Park, and San Carlos

Tracking recent monthly sales data in Palo Alto, Menlo Park, and San Carlos indicates the real estate market is getting stronger and more competitive for buyers.

I have been tracking percentage of sales at or above list price since the start of the year.

Data for the first four months of the year can be found here.

May 2010 Sales at or above list price

• 30.9% in Menlo Park, down from April’s 36.6%.
• 57.4% in Palo Alto, up slightly from April’s 56.2%.
• 75.0% in San Carlos, up from April’s 70.0%.

May 2010 Average Days on Market

• 40 average days on market in Menlo Park
• 27 average days on market in Palo Alto
• 14 days on market in San Carlos

Both metrics indicate the San Carlos market is stronger.

I am interested in why the data is different between these three cities.

Any ideas as to why this is happening?

San Carlos homes are at a lower price point than homes in Palo Alto and Menlo Park.

Perhaps the data indicates higher demand in the more affordable price ranges.

I will need to take a closer look, at the raw data below.

Menlo Park May 2010 sales data

Palo Alto May 2010 sales data

San Carlos May 2010 sales data

How’s the Market in Menlo Park?

How’s the Market in Palo Alto?

How’s the Market in San Carlos?

Transfer Taxes upon sale of real estate

Transfer taxes on the sale of real property are collected by San Mateo, Santa Clara, and San Francisco Counties.

These transfer taxes are paid in escrow and are part of buyer and seller closing costs.

Typically, the County transfer tax is $1.10 per $1,000 of value and are generally paid by the seller.
So upon sale of a $500,000 house, the seller will pay a transfer tax of $1.10 x 500 or $550 to the County.

Some cities also have City transfer taxes.
On the San Francisco Peninsula; San Francisco, San Mateo, Palo Alto, Mt. View and San Jose have City transfer taxes.
Generally, city transfer taxes are spilt 50/50 between buyer and seller.

The City transfer tax in Palo Alto, Mt. View, and San Jose is $3.30 per $1000 of value.
So on a $500,000 sale in these cities, the City transfer tax is $3.30 x 500 = $1650.
Buyer pay $825. Seller pays $825.

The City transfer tax in San Mateo is $5.00 per $1,000 of value.
So on a $500,000 sale in San Mateo, the City transfer tax is $5 x 500 = $2500.
Buyer pays $1250. Seller pays $1250.

So if you are buying or selling in those cities, be sure to take into account these City transfer taxes.

San Carlos Real Estate Week in Review May 23, 2010

7 new single family home listings came on the market this past week in San Carlos.

To view these new listings in San Carlos, click here.

9 single family homes in San Carlos went pending sale this week.

48 single family homes in San Carlos are currently for sale.

44 single family homes in San Carlos currently have pending sales.

91.7% pending to active ratio in San Carlos.

For San Carlos market data, click here.

Looking for good schools?

Every parent wants to send their children to excellent schools.

School rankings play a big role in property values – the better the schools – the higher the property values.

2009 API scores have just been published and no surprise:

Menlo Park, Palo Alto, and San Carlos rank very well.

Click on City below to see API scores for each school in the City:

Menlo Park

Menlo Parks shows an average API of 931 with a low of 918 and a high of 940.

Palo Alto

Palo Alto shows an average API of 919 with a low of 861 and a high of 982.

San Carlos

San Carlos shows an average API of 896 with a low of 861 and a high of 917.

Sequoia Union High School District (which covers Menlo Park to Belmont)

High schools in this in this district have API scores from 740 to 827.

New San Carlos listings offer good value

The San Carlos real estate market is very hot right now.
70% of the single family homes in San Carlos that closed escrow in April 2010 sold at or above list price.
Buyers are taking this opportunity to buy into a great community at very good prices.
It is unusual to have 3 new listings located west of El Camino come on the market with list prices below $800,000.
Given recent market activity, I expect all three to sell quickly and with multiple offers.

Here they are:

212 Park Avenue, San Carlos    2/1 $769,000

We're sorry, but we couldn't find MLS # 81022256 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81022667 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

If you would like to see these properties or others in San Carlos, just let me know.

How common are sales prices above list prices? Part 2

On April 10, 2010, I wrote a post “How common are sales prices above list prices?”

My analysis of sales data in Menlo Park, Palo Alto, and San Carlos indicated that in the first three months of 2010:

38.3% of the homes sold and closed in Menlo Park sold at or above list price.

46.5% of the homes sold and closed in Palo Alto sold at or above list price.

51.3% of the homes sold and closed in San Carlos sold at or above list price.

What happened in the month of April 2010?

36.6% of the homes sold and closed in Menlo Park sold at or above list price.

56.2% of the homes sold and closed in Palo Alto sold at or above list price.

70.0% of the homes sold and closed in San Carlos sold at or above list price.

The number of home sales above list price increased in Palo Alto and San Carlos during April 2010 above the first three months of the year. Clearly, the market in those two cities is heating up.

The number of homes sales above list price in Menlo Park remained unchanged at about 36%.

To view historical sales data by city or by neighborhood on a monthly, quarterly, or annual basis, click below:

Menlo Park Sales Data

Palo Alto Sales Data

San Carlos Sales Data

 

Super new listing in White Oaks has 3 offers!

I toured a new listing in White Oaks a few blocks from my home yesterday at 1340 Orange Avenue.

While I was viewing the property, listing agent Sandy Rostad said she already had three offers.

This is a recently expanded and updated home featuring a wonderful “great” room that opens to an inviting peaceful rear yard.

We're sorry, but we couldn't find MLS # 81018075 in our database. This property may be a new listing or possibly taken off the market. Please check back again.