White Oaks has long enjoyed the reputation of being the top San Carlos neighborhood in San Carlos-with good reason. The White Oaks neighborhood is quaint, upscale, has a great elementary school and a wonderful sense of community. However, its reputation as the top San Carlos neighborhood is being strongly challenged by Howard Park. In full disclosure, I do live on a small street in Howard Park. While I am doing my best to be completely objective, readers should know this fact. Before going any further, let me say that both are absolutely outstanding neighborhoods and this is not intended to be a post promoting one over the other. Rather, this is a post that is reflective of commentary I have received from prospective buyers over the past 12 months as well as the relevant statistical data provided below
First, we should take a look at the raw data from both neighborhoods from the last 12 months. Interestingly, Howard Park has come out ahead in each category:
Howard Park:
Average Sales Price: $1,204,600
Average Price Per Square Foot: $703.44
Average Lot Size: 7,186 square feet
White Oaks:
Average Sales Price: $1,050,000
Average Price Per Square Foot: $667.04
Average Lot Size: 5,646 square feet
A blog reader wrote in with some insightful information based on these numbers. And I am amending parts of this post. First, a standard deviation is not accounted for in the above numbers. Additionally, we did have low inventory this year, and that should be taken into account when viewing the stats above.
Has Howard Park taken over the top spot? Many buyers believe it has or will do so in the near future, and the data seems to indicate that there is something to that argument. Buyers that I have worked with in San Carlos over the last year have all mentioned the following as reasons they prefer Howard Park to White Oaks:
(1) Larger lot sizes, slightly more privacy
(2) Walking distance to the north end of Laurel Street
(3) Shorter distance to Burton Park
(4) Streets such as Carmelita, Alma, Elizabeth, Knoll, Eucalyptus, Rosewood, Morse and others, are all heavy hitters for resale and the 1.8M + market.
Whether this trend continues remains to be seen. Additionally, the fact that San Carlos has two great neighborhoods competing at such a high level is great news for all homeowners in San Carlos.
17 Comments
I see your point – people are willing to pay more for Howard Park and its popularity relative to White Oaks is changing.
However, how can higher numbers for each of those three stats be considered a win?
From a consumer perspective, *lower* total price, a *lower* price / sq ft and *larger* lots are the mix we are looking for. Seems like White Oaks has 2-of-3.
Hi K,
Thanks for your post. I would argue that the high numbers are indicative of a possible shift in market preference. Certainly, if the items mentioned in the original post are not as important to you in your home search, you may have your answer. Higher prices usually mean higher demand. Obviously, when you go to sell your prospective home you would want the highest demand to maximize your return on investment. So, yes, I would argue that higher numbers for those three stats should be considered a win if you will one day consider selling that home. Thanks again for the post.
Bob
Bob,
Well done. Those insights are why I read this blog. Any thoughts on the Rosewood home that just went on the market for $1,749,000?
Jamie
I would suspect that point four above is the biggest reason. There have been a good number of remodels on the streets you refer to, which obviously bring up the average sale price.
I’d be interested to see how the other five neighborhoods in San Carlos compare to these two?
Hi Fabravo,
I would slightly disagree with the heavy-hitting streets as being the biggest reason for differential. I went back and looked for homes that were on the above mentioned streets in Howard Park. There were only 4 that sold in the last year. Three of the four sold at an average of $637 per square foot or lower. Only one home in Howard Park on the above mentioned streets sold over the average price per square foot of $703…..and that particular home was in its original condition, on Alma.
Additionally, I went back and looked at the other four areas of San Carlos. The highest price per square foot of the remaining areas was $612 a square foot, however, many of those areas had larger lots sizes.
Thanks for the post.
Bob
Mr. Bredel,
I agree with your post. While I am not involved in real estate, we do attend a fair number of open houses on the weekend. If Howard Park is up and coming, what would be another area of San Carlos that could one day fall into higher demand than it is currently?
Hi SC Native,
First, Mr. Bredel is my father. “Bob” is more than fine : )
Thanks for your post. If I had to pick an area I would say the Devonshire Canyon area and Alder Manor/Graceland area will eventually pick up steam. I think many of the folks with kids in the White Oaks and Howard Park area will eventually opt for something much more private. Both of those areas will suit them well.
Bob
Hi Jamie,
Sorry I missed answering your post. With regard to the new home on Rosewood at $1,749,000, great home and a fair price.
Bob
Wow Bob. That’s really interesting. I would have guessed it the other way as to houses sold in Howard Park. I guess what we’ve seen are a lot of rebuilt houses that are not being then put on the market.
Thanks for the info about the other areas. After I made the post I realized the larger lot sizes of the other areas would make the price per square foot average a lot lower.
Bob,
We live on Rosewood and there is a home around the block from us on Morse that is being constructed. Will this home go on the market? If so, any idea of the price and size, etc?
Hi Debra,
Yes, it will be going on the market. The builder has completed other high-end homes around San Carlos. I believe the home is slated for 4 bedrooms. I have had initial conversations with the listing agent regarding price, but do not want to make that information public because they may still adjust it up or down. It is going to be a wonderful home on a great street….the price will be indicative of both of those attributes.
Thanks,
Bob
Bob,
As always, thanks for the great insight! White Oaks is a great neighborhood, but I agree Howard Park stands as the best in SC for a number of reasons. The Burton playground just re-opened and it is fantastic. Bigger lot sizes in Howard Park means it is less congested than White Oaks, a big draw for me. The schools in SC are all fantastic so I don’t see this as a downside for anyone. Finally, being able to easily walk to the north part of Laurel is a huge plus.
Hi Adam,
Thanks for your post. I appreciate it. Just as a point of clarification, I wasn’t advocating that Howard Park was the best, rather I was suggesting that White Oaks is receiving competition from Howard Park. Both are outstanding in their own ways.
Thanks again,
Bob
Bob:
Seems like you’d need a lot more data here to make such a claim. Using averages without a range or standard deviation seems to be misleading and irresponsible. You should consider adding a little more data to make this credible.
Also, for the purposes of full disclosure, where do you live? Just wanted to make sure you don’t have some sort of agenda.
Thanks, Phil
Hi Phil,
I appreciate the commentary. I think you do have a valid point. Not having a standard deviation built into those numbers may be misleading. To make sure that folks are aware of this, I amended the original post to state that a standard deviation was not used and that lower inventory could contribute to a larger standard deviation.
I do live in Howard Park….not on any of the notable streets. I do state this in my bio. I can assure you that there is absolutely no other agenda associated with this article. I try very hard to be as objective as possible. However, just to be sure that no one has the wrong impression I amended the original post with this information as well.
Finally, the point of the post was not to say that Howard Park was better than White Oaks, but rather to say that there appears to finally be another neighborhood in San Carlos which can compete on the same level as White Oaks….which is ultimately better for all of San Carlos. Thanks again for the post.
Bob
Thanks for your professional and timely response Bob. I’m sort of a numbers guy and would love to see some of the LTM trends. Do you have a place to view the data or can you recommend where I might be able to acquire it?
Thanks very much for your insights.
Phil
Hi Phil,
My guess is that the type of data you will need is most easily available through our local MLS network. The public has limited access to this. If you would like, please let me know the data you would like I can put it in a PDF and send it to you. I would be very interested in the results. Thanks again for the post.
Bob