Yesterday we saw that the January average list-price-per-sf in NSDCC was the same as the peak in 2006.
How does the pricing of closed sales compare between 2006-2007 and now?
Let’s use a larger sample size to smooth out the highs and lows. Here is the average cost-per-sf for the October 15th-to- January 15th periods:
| Town or Area | 2007 Avg $/sf | 2013 Avg $/sf | Price chg since peak |
| La Jolla | |||
| Carmel Vly | |||
| Carlsbad | |||
| Encinitas | |||
| Del Mar/SB | |||
| Cardiff | |||
| RSF | |||
| Totals |
La Jolla is leading the way, with a higher cost-per-sf today than in the 2006-2007 era! The rest have a ways to go, but the NSDCC sellers are out on front with their average list price at $551/sf!
There were 33% more sales this year than in 2006-2007, which is shocking when you compare the difference in mortgage qualifying. But the start rate on your neg-am loan then, is your 30-year fixed rate now!
Sales during the October 15th-to-January 15th period:
| Town or Area | 2007 Sales | 2013 Sales | %chg since peak |
| RSF | |||
| La Jolla | |||
| Del Mar/SB | |||
| Cardiff | |||
| Carlsbad | |||
| Carmel Vly | |||
| Encinitas | |||
| Totals |
There isn’t any shortage of demand in RSF, it’s just a price thing.
how soon they forget? I guess its true that the most desirable areas hold up the best in the downturn of a cycle?
Very interesting and useful data, thanks Jim.
Relatively new to North County (2 years) what’s the story here. 2 years ago, homes were sitting at 600-650 range. Now, you can’t find a home for under 900k in Encinitas without a feeding frenzy. Bubble?
@Matt Carter
“Now, you can’t find a home for under 900k in Encinitas without a feeding frenzy. Bubble?”
Matt, you have to be careful on this site when it comes to playing with explosives.