How's the market in the White Oaks area of San Carlos, CA 94070?
Last week I did an analysis of the condominium/townhouse market in downtown Palo
Alto, California for a client. The results were fascinating--the price drop between 2007 and 2010 year to date was quite small, less than 5%.
So, that prompted me to check other market segments in towns in San Mateo County and the Silicon Valley where I have listings or have helped buyers this year. One neighborhood in Belmont California saw a decline of approximately 3% during that same period.
Much to my amazement, the story is quite different in the White Oaks neighborhood in San Carlos, CA, traditionally a stronghold in the area:
While a 13% drop in median price is since 2007 is not unusual in San Mateo County as a whole, I was surprised to find a decline that steep in the White Oaks area. These statistics also show that prices have edged up slightly from 2009, and the number of sales are on track to match 2009.
You've heard it before: real estate is definitely local. If you have questions about your area, the spot you call home in the mid-Peninsula or Silicon Valley, I'm here to help.