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Pendings

Rich has his latest report on the San Diego stats:

https://piggington.com/july_2017_housing_data_chartsngraphs

In his graph above, you can see that the county has been cooking this summer, with as many pendings as we’ve had in recent years!

In spite of higher pricing, we’ve also had fewer homes to consider.  Isn’t it mind-boggling that in a county of more than 3 million people, we’ve had less than 6,000 homes for sale all year?

We’ve been following the weekly new pendings between La Jolla and Carlsbad since 2013, but I haven’t monitored the NSDCC total pendings.  Any rise and fall in the total-pendings count would be a precursor to a change in sales count, which would give us a hint of a new trend.

The NSDCC pendings count has been in the 400s over the last few months, so as summer winds up, these numbers aren’t surprising:

NSDCC Total Pendings today: 373

NSDCC Pendings, 20+ Days: 194

The houses that are still pending after 20 days have probably released their contingencies, and are on their way to the finish line.  I will keep track of them from now on to see if the trend reveals anything new!

Posted by on Aug 22, 2017 in Jim's Take on the Market, NSDCC Pendings, Rich Toscano | 0 comments

Inventory Watch

Another good week for new pendings, and we’re running at roughly the same pace as last year:

Week
New Listings
New Pendings
Jul 24
86
61
Jul 31
90
75
Aug 7
99
71
Aug 14
76
65
Aug 21
83
62

We’ve had the quandary of the high-end market being bloated for years, while the lower-end has been red hot with very little inventory.

But look at this development in less than two months:

The UNDER-$800,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
July 3
21
$442/sf
41
1,719sf
August 21
39
$428/sf
40
1,804sf

Stick around, it’s going to be an exciting off-season!

Read More

Posted by on Aug 21, 2017 in Inventory, Jim's Take on the Market | 2 comments