Bay Area's Hottest Real Estate Market -- San Carlos' White Oaks Neighborhood
SAN CARLOS (KPIX 5) -- The holidays just came early for the residents of the White Oaks neighborhood in San Carlos.
The small neighborhood of mostly bungalows built between the 1920s and 1950s is number one on Redfin's list of 20 most competitive neighborhoods in the country for homebuyers, which means if you're looking to buy a home in the area, you'll have to pay up and buy quickly.
"Wow, I didn't know it was that competitive," said White Oaks resident Ryan Connolly.
According to Redfin, the neighborhood's average home price is $1.835 million, with more than 72% of the homes selling above the asking price.
"Our elementary school is literally a block and a half away, we've got Laurel Street three blocks away, it's an amazing place to live," said Connolly.
Mike Fitch is among the numerous small business owners on Laurel Street. He opened "The Olive Crush" a decade ago.
"I'm not surprised," Fitch said. "This town has a great small town atmosphere; a lot of small businesses are successful because people shop locally and support the small businesses in this area."
Not only is White Oaks in walking distance of San Carlos, it's an area with some of the state's best schools and it sits near Caltrain.
"Small time feel as far as the city goes, but it's very nice, too, very comforting," said Fitch. "It's growing, very safe environment too."
White Oaks isn't the only Bay Area city to make Redfin's list. In fact, there were ten Bay Area cities, including Berkeley Hills and North Los Altos.
Connolly and his family moved into their home in 2012 after he said it sat on the market for six months. These days, according to Redfin, homes in the White Oaks neighborhood stay on the market for less than two weeks before they're sold.
"They're up for only a day or two and literally mutliple offers and they just vanish," he said. "Incredibly fortunate, if we were trying to get this house or anywhere in this neighborhood now it'd be almost impossible."
