The last three months worth of sales in San Carlos indicate that the San Carlos market is continuing to thrive, leaving some scratching their heads in disbelief. 24 homes have changed hands in San Carlos over the past three months. 17 of those 24 homes have sold at or over the list price.For all of the reasons mentioned countless times on this blog, San Carlos has managed to create a wonderful reputation for itself. Schools, Laurel Street, Community, Re-Sale, Size and location have all contributed to a very healthy real estate market in San Carlos. However, none of the reasons listed below can compare with the number one reason why people have flocked to San Carlos: the word-of-mouth testimonials from current San Carlos residents. San Carlos residents are usually quick to tell others how much they enjoy living here.As a realtor working in San Carlos daily, I can tell you that the market is moving well. Our inventory should be increasing as we head into March. Instead, our inventory has actually decreased from 52 active homes to 46 homes over the last ten days. Even some homes that seemed like they may never move, have had some movement….How long can this seller-friendly market last? Nobody knows for sure. Rising interest rates and a downward spiral of the local economy are the two most likely culprits for a leveling out of the San Carlos market. However, neither of these seem imminent. The truth of the matter is that our current demand for homes in San Carlos grossly outweighs our current supply. Bottom line, those buyers hoping for the San Carlos market to cool off anytime in the near future may grow very impatient.
How does this compare with other cities on the Peninsula – palo alto, menlo park, belmont, redwood city, and san mateo?