San Carlos Market Overview | 1st quarter 2015

I would like to invite you to preview the single family home market overview for San Carlos in the 1st quarter of 2015 versus the 1st quarter of 2014. Please find below a table of sales data showing you the comparison.
[table id=16 /] Single family home prices in San Carlos continued on an upward trend in the 1st quarter of 2015. Both the average list price and the average sales price in the 1st quarter of 2015 were 9% higher than the 1st quarter of 2014. The median sales price in San Carlos increased by 11% in 1st quarter of 2015 versus 2014. There is a significant difference between the total Sales Volume between 1st quarter of 2015 ($86.7 Million ) vs 1st quarter of 2014 ( $76.4 Million ) which shows an increase of 14% ($10.3 Million ) due to the higher sales home prices . While the number of sales transactions only increased by 2 transactions from 53 transactions in 1st quarter of 2014 to 55 transactions in 1st quarter of 2015. The highest price home sold in the 1st quarter of 2015 in San Carlos was $2,550,000 which is almost similar to the highest price home sold in 2014 for $2,575,000. There is an increase in the lowest price home sold in the 1st quarter in San Carlos 2015 as compared to the 1st quarter of 2014 with an increase of 17% from $708,000 in 2014 to $825,000 in 2015.  

For those of you who are not familiar with the MLS area, San Carlos consists of 6 MLS areas:
Area 350 – Alder Manor
Area 351 – Beverly Terrace
Area 352 – El Sereno Corte (also known as White Oaks)
Area 353 – Howard Park
Area 354 – Clearfield Park
Area 355 – Cordes
Here’s a map of the San Carlos neighborhood:

[table id=SC_neigh_1Q2015 /] TOP PERCENTAGE GAIN IN AVERAGE SALES PRICE in the 1st quarter of 2015 in San Carlos
Homes in the neighborhood area of Howard Park (MLS area 353) has the highest percentage gain in average sales price of 26% , an increase from $1,340,429 in 1st quarter of 2014 to $1,691,818 in 1st quarter of 2015. Beverly Terrace (MLS area 351) has the second highest percentage gain of 21 % in average sales price, $1,338,500 in 1st quarter 2014 versus $1,623,333 in 1st quarter of 2015. The third highest percentage gain is the Clearfield Park neighborhood (MLS area 354) which has a gain of 14% in average sales price from $796,667 in the 1st quarter of 2014 to $906,250 in 2015.
TOP VALUATION PER SQUARE FEET 1st quarter of 2015 iin San Carlos
In the 1st quarter of 2015, the neighborhood White Oaks (MLS area 352) has 3 of the highest price homes sold per sq ft.

The first home was at 25 Wildwood Ave with only 920 sqft of living area featuring 2 bedrooms and 1 full bath, this beautiful cottage was sold at $1,250 per sq ft.

The second highest price home sold per square ft was 287 Alberta Ave which features a 1,311 sqft living area on a 7,000 sqft lot with 3 bed and 1.5 bath – was sold at $1,224 per sq ft. The third highest price home sold per square feet was sold for $1,675,000, at $1,147 per sqft, located at 212 Fairmont Ave. This charming home showcase a 3 bedrooms and 2 full bath at a1,460 sqft on a 5,600 sqft lot.

THE TOP NUMBER OF SALES TRANSACTIONS
In the 1st quarter of 2015, Beverly Terrace has the most sales transactions at 18 followed by Howard Park with 11 and third at Alder Manor with 9 sales transactions
[table id=SC_top10_saleoverlist_1q2015 /] [table id=SC_top10_sp_1Q2015 /]

Thank you for visiting Beautiful Bay homes. If you have any questions on the current real estate market trend and selling or buying your home, please feel free to contact Henry Chu for more information.