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Posted by on Mar 4, 2013 in Inventory, North County Coastal, Sales and Price Check | 1 comment | Print Print

February Home Sales – Preliminary

The lower-end average pricing has been steadily rising about 1% per month, resulting in 10% to 12% annual appreciation (the Under-$1,000,000 market saw a 12.8% gain in their average pricing for Feb. 2013).

NSDCC Detached-Home Sales for February

Under $1M Feb. Sales Avg $/sf
2010
90
$327
2011
99
$306
2012
123
$288
2013
104
$325

The lower-end appreciation should continue because it will take months or years to satisfy the demand when there are 10, 20, 30 or more buyers for each house. The higher-end pricing hasn’t been quite as frothy:

Over $1M Feb. Sales Avg $/sf
2010
53
$461
2011
67
$483
2012
56
$504
2013
75
$503

There are 718 active listings, and their list prices are averaging $697/sf. The inventory is top-heavy though; only 157 of those are priced under $1,000,000. There are 561 houses for sale priced over $1 million!

Photo taken five minutes after an open house began yesterday – note that the booties crate is already empty. There were another five realtors waiting for their buyers outside:

open house shoes and booties

1 Comment

  1. I always hated bootie tours.

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