Below is an interactive chart showing the active listings – each data point is three months of activity. Currently the inventory is lower than in previous years, in spite of the higher prices – a trend we have been experiencing lately:
However, this chart shows that lately the number of new listings has been higher than in previous years – suggesting that sellers are sensing an opportunity, and that next year we could finally see some market balancing:
‘North Coastal’ excludes La Jolla and includes Oceanside – but starting at $800,000 should limit any skewing of our regular NSDCC trends.
Some of the increase could be due to higher pricing pushing more houses into the $800,000+ range, but we’re talking 17% more new listings than last year.
The average $/sf for the high-enders is actually down a bit from a year ago – which might actually be causing some of the surge!
On a raw numbers basis, it would ‘seem’ that the middle tier should show a major uptick since more houses have been pushed into that tier than have been pushed out and into the high tier. Meaning, there is a big chunk of houses that used to be in the 900-1.1 in that are now pushing into the middle tier. The volume that will get pushed into the top tier cannot be nearly as big…?