5 Reasons Home Buyers Want San Carlos.

The Perfect Storm.

Unless you've been living under a rock for the past few years, you're well aware that the San Carlos real estate market is absolutely on fire right now.  

Home prices have been on a steady upward trend for the past 12 months, with a breathtaking uptick since the beginning of the year. A recovering economy, rock-bottom interest rates, a booming stock market, and an overall shortage of housing, have all converged to create a "perfect storm" in the San Carlos market -- perfect for sellers, but not-so-perfect for buyers.

While sellers are raking in unprecedented prices for their homes, potential home buyers are finding themselves in a fierce, multiple offer battle for virtually every home that comes for sale in San Carlos -- particularly the entry level up to $1.2M.   And San Carlos is not alone in this respect.  Other communities on the Peninsula are also reeling from the sudden demand for housing.  

So this begs the question: What is it about San Carlos that is so appealing to buyers?  

The Top 5

From dealing with many buyers who have purchased homes in San Carlos, as well as countless others who are still trying, these are the top 5 reasons that I believe they want to call San Carlos home:

1. Schools.   When you look up and down the Peninsula, the communities with strongest and most resilient housing markets are those with the best schools.  While this is obvious for families with school aged children, it's equally important for buyers without kids, because good school districts help homes retain their value.   The San Carlos School District has an outstanding reputation, and is probably the top reason why buyers put the City of Good living at the top of their list.
2. Location.  San Carlos has the unique distinction of being located almost exactly halfway between San Jose and San Francisco.  Many people buyers in this market are dual-income families who are commuting in both directions for their work, so the geographic location of San Carlos offers the perfect compromise for that purpose.
3. Community.  This is on just about every San Carlos buyer's checklist.  San Carlos feels more like a small Midwest town than it does a city that's at the heart of one of the biggest economic engines in the world.  It's a place were neighbors know each other, and people feel safe taking a stroll throughout their neighborhood at any time of the day or night.   Contrast that with other well-heeled communities on the peninsula where people put up walls around their homes to keep the rest of the world out!
4. Downtown.  The popular downtown shopping/dining district is not only a magnet for home buyers, but it has also created a shift in the preference of where they want to live.   Most buyers today want to live in the flats, preferably within walking distance of their favorite downtown coffee shop or restaurant.   This is a huge shift from just a decade ago when buyers flocked to the hills to get larger homes with a view of they bay.
5. Affordability.  Try not to laugh to hard at this one in a market where 3-bedroom homes are routinely fetching over $1.3M.  But compared to similar communities like Burlingame, Menlo Park, and especially Palo Alto, San Carlos is still a relative bargain.  Part of the reason why house prices have spiked recently is the influx of buyers from these other communities who have been priced out of those markets.

There are other obviously other reasons why people want to move to San Carlos, but these 5 seem be the most prevalent with the many home buyers that I interact with every day.  

What do YOU like best about our city?