While it has felt like prices have been going up this year, the average-cost-per-sf has been bouncy around the higher-end of NSDCC. The average LP-per-sf is down a couple of ticks, and the average SP-per-sf is trying to get back to last year’s trend. These are the numbers for detached listings in the combined Carmel Valley, Del Mar, Solana Beach, and RSF area:
New Listings, first half of year:
|Year||#Listings||LP Avg. $/sf|
Lower average-pricing, slightly-lower inventory (only about 9% less in area) and record-low mortgage rates contributed to a second-quarter sales rally:
|Year||#Sales 1Q||SP Avg. $/sf||#Sales 2Q||SP Avg. $/sf|
There are 66 houses closed this month so far, with three days to go plus late-reporters. We should get to 80+ sales, which will be a 20% or more improvement over the 65 in July, 2011.