Deirdre Sauvage
Ca. DRE # 00847381
dsauvage@apr.com
Today’s blog takes a look at Months Supply of Inventory Data based upon Nov 2012 Trendgraphix Data for single family homes. This data indicates that the San Francisco Peninsula real estate market continues to show strong activity with multiple offers continuing to be the norm for many cities located in Silicon Valley .
Palo Alto: .7 months (based upon closed sales for Nov 2012)
.9 months (based upon pended sales for Nov 2012) Read more
The 2011 real estate market ended on a strong note for Silicon Valley with multiple cities posting strong sales volume and low levels of inventory as reported by Trendgraphix as of December 31, 2011 (based upon closed sales):
Palo Alto: 1 month
Menlo Park: .9 months
Portola Valley: 2.5 months Read more
Today’s blog takes a look at Months Supply of Inventory Data based upon December 2011 Trendgraphix Data for single family homes. This data indicates that the San Francisco Mid Peninsula real estate market continues to show strong activity .
Palo Alto: 1 months (based upon closed sales for December 2011)
1.3 months (based upon pended sales for Dec 2011) Read more
2012 has arrived and with the new year I am launching a new blog format that I hope is easier for readers to navigate. In February I will start my Spring Fling series which features a close up look at several popular San Francisco Mid-Peninsula communities.
Our market is very brisk and I will continue my monthly posts updating my readers on Months Supply Inventory Data .
I hope you enjoy my new format and I look forward to hearing from you. Happy New Year!
The Wall Street Journal ‘s April 22, 2010 article entitled “Tax Deal Lifts Home Sales But Price Pressures Loom” noted the following:
“Tax credits sparked a big jump in home sales last month, as first-time buyers took advantage of low prices and interest rates.
But the longer-term housing outlook remains clouded, with a large inventory of foreclosed homes expected to hit the market later this year.”
The jury is still out regarding the overall outlook for the San Francisco metro area ;however, the article went on to note the following:
“Among metro areas with relatively low rates of delinquent borrowers and for-sale inventories: Boston, Denver, Dallas, Houston, Minneapolis, San Francisco and Washington, D.C.”
The market may be in a transitional period with Federal Tax credits for qualifying homebuyers set to expire on April 30 (property must be in contract by April 30 to qualify).
At the end of the day, job growth and economic factors will determine which metro areas continue to rebound while other areas continue to struggle with high rates of foreclosures. The San Francisco Peninsula real estate market is marked by limited land for development, proximity to San Francisco and of course, Silicon Valley. As we reflect on the first quarter of this year, the question remains : Is the glass half-empty or half-full?
Today’s post takes a look at active and pending sales data as reported by our Multiple Listing Service. Currently the MLS reports 145 active class one (single family homes) listings in Redwood City. The MLS also reports 124 pending sales as of todays date. Pending sales ranged in list price from $185,00 to $2,500,000. Based upon MLS pending data this represented an average 1487 sq foot house on an average 6814 sq foot lot. (Data deemed accurate but not guaranteed).
Today’s post takes a look at active and pending sales data as reported by our Multiple Listing Service. Currently the MLS reports 92 active class one (single family homes) listings in Menlo Park. The MLS also reports 59 pending sales as of todays date. The average list price for the pending sales was reported to be $1,092,327. Based upon MLS pending data this represented an average 1619 sq foot house on a 7796 sq foot lot. (Data deemed accurate but not guaranteed).
This past week was a busy one for Menlo Park: 25 pending sales were reported by the MLS in this period.
Today’s blog takes a look at White Oaks in San Carlos Ca. Our Multiple Listing Service indicates a very active market. As of todays date there is one active listing in this area listed at $1,199,950. There are five pendings per the MLS with an average list price of $981,283.(Information deemed accurate but not guaranteed)
The City of San Carlos is currently facing a budget deficit estimated to be close to 3.5 million dollars. Closing this gap is proving painful and proposed remedies range from turning off lights to outsourcing police and fire department services.
Often compared to the fictional small town known as “Mayberry”, San Carlos enjoys a small town feel with all the conveniences associated with its location on the San Francisco Peninsula. . The area known as White Oaks is popular among buyers attracted to its tree lined streets and White Oak Elementary School.
If you are looking for distinctive architecture and tree lined streets the Mt. Carmel area of Redwood City may be the place for you. Homes in this area can range from Spanish style bungalows to larger ranch style homes. Located north of Jefferson and west of El Camino, this area offers an attractive alternative to Allied Arts or the Willows in Menlo Park. Stafford Park located at Lowell and Hopkins is a popular park with the locals. Currently our Multiple Listing Service indicates 5 active (class one single family home) listings in this area with an average list price of $969,800. There are 5 pending sales reported with an average list price of $972,000. (Info deemed reliable but may not reflect sales not reported to MLS)
The Mt. Carmel area is within walking or biking distance to downtown Redwood City which is currently being revitalized by downtown redevelopment and the numerous restaurants, art galleries and movie theatre which draw a crowd.
Next week, my blog will continue north to San Carlos. I will then take a look at North Los Altos, Downtown Palo Alto and Woodside Glens in Woodside. Have a wonderful weekend. See you next week.
Todays blog looks at active inventory and pending sales as reported by our Multiple Listing Service for Menlo Park,San Carlos and Redwood City. (These statistics are for class one-single family homes). As of today’s date, our MLS reports the following for these San Francisco Mid Peninsula locations:
Menlo Park:
74 Active Listings
40 Pending Sales
San Carlos
30 Active Listings
34 Pending Sales
Redwood City
120 Active Listings
101 Pending Sales
