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Wednesday, April 21st, 2010 at 2:28 PM

Benefit of Cheese

How much impact has the tax credit had on the market?

Here is the summary of detached sales and avg. $$ per square foot in the same zip codes combined from yesterday, for the January 1st through April 15th period:

Year $800,000- $800,001+
2009
538/$285 psf
282/$451 psf
2010
706/$297 psf
400/$411 psf
YOY Diff
+31%/+4%
+42%/-9%

Sales above $800,000 have increased sharply (+42% YOY) without the government cheese – but the lower pricing must be a contributing factor.

Posted on Wednesday, April 21st, 2010 at 2:28 PM in North County Coastal, Price Check, Sales and Price Check, Thinking of Buying?, Thinking of Selling? | 5 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 5 Responses

  1. Brie wins over Velveeta!

    doughboy | April 21st, 2010 at 3:24 pm

  2. Well,

    Remember though, that during the same time in 2009, that jumbos were spread 3 to 5% from agencies. Now, the spread is back to a normal <1% in most cases. There's little comparison from a financing perspective, which is largely why the over 800K market has reopened.

    It's still far from healthy though, as the pricing is showing.

    Chuck Ponzi | April 21st, 2010 at 3:37 pm

  3. Jim, did you listen to the interview with Mark Hanson on kingworldnews? I’m not sure if he’s betting on it but he seems convinced that the pols will extend and broaden the tax credits

    http://kingworldnews.com/kingworldnews/Broadcast/Entries/2010/4/16_Mark_Hanson.html

    Jack Frost | April 21st, 2010 at 6:00 pm

  4. “It’s still far from healthy though, as the pricing is showing.”

    What is healthy for this >800 crowd.

    justme | April 21st, 2010 at 6:20 pm

  5. Real Estate cheese is rich person welfare.

    Just start foreclosing

    shadash | April 21st, 2010 at 8:39 pm

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