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Posted by on Jun 8, 2012 in Bottom Talk, North County Coastal, Sales and Price Check | 2 comments | Print Print

NSDCC May Sales & Pricing Up

Detached sales in the North SD County Coastal region were smoking hot last month. 

The average cost-per-sf has been bouncing along in a 10% range, with a recent spike lately.

There were 280 detached sales in May, the highest monthly sales count since 2005 (in red). 

Total sales in the first five months of 2012 have out-performed the last three years too, probably due to slightly lower pricing and rates:

Year # of sales, first 5 months Avg. $/sf
2009
696
$399/sf
2010
975
$382/sf
2011
1,030
$374/sf
2012
1,128
$368/sf

The 2012 sales were 62% higher than in 2009!

There doesn’t seem to be enough new inventory coming to market to think the trend will continue, but there are 671 houses marked pending or contingent – hopefully that will mean the sales momentum will last a few more months?

2 Comments

  1. I’m a little surprised the average price per sf is still declining. Does this mean larger homes, which usually sell for less per square foot, are a greater percentage of the sales? Or are prices really continuing to decline?

  2. The YOY showed a little dip, but on the graph the green pricing line has some upward momentum.

    Mortgage rates happened to hit all-time lows this year, which made for a nice justifier, but we’ve been due for a turnaround.

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