New Peak

by | Jul 15, 2014 | Jim's Take on the Market, Sales and Price Check

The North SD County Coastal region (Carlsbad to La Jolla) has 1,091 houses for sale currently – and 78% of them are listed over $1,000,000.  If you take Carlsbad out of the mix, then 90% of the homes for sale are listed over $1,000,000!

How do the 2014 sales compare?

graph (46)

Though the median sales price is at a new peak, sales remain strong. In spite of this year’s median SP being 20% higher, sales were 10% higher than in 1H11.

Here are the first-half (Jan-June) sales for each year:

Jan-Jun
# of Sales
Median SP
Avg DOM
# New Listings – 1H
2001
1,423
$570,000
52
3,297
2002
1,905
$619,562
159
3,171
2003
1,771
$690,000
61
3,063
2004
1,752
$935,500
47
2,920
2005
1,548
$975,000
58
2,891
2006
1,373
$990,450
65
3,547
2007
1,387
$1,000,000
71
3,119
2008
1,016
$936,250
76
3,009
2009
899
$795,000
78
2,877
2010
1,232
$825,000
75
2,966
2011
1,281
$845,000
84
3,046
2012
1,477
$815,000
86
2,545
2013
1,670
$919,950
51
2,790
2014
1,412
$1,014,000
50
2,700

The number of listings isn’t directly related to the number of sales, but is a great indicator. Look at how the number of new listings was declining until 2006, then as sellers sensed a peak, the inventory exploded. As long as new listings stay in check, buyers will probably stay in the hunt.

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