The OC Register is reporting that million-dollar sales in Orange County are down 12% this mid-summer. We’re watching the sales counts closely, because we know that is the leading indicator for the market.
How about our north county coastal region?
The OCR only looked at zip codes that had a $1,000,000 median sales price, which in our case, excludes all four zips in Carlsbad.
Here are the stats on the Encinitas-to-La Jolla sales over $1,000,000 (where 91% of the active listings today are over $1M) between July 13th and August 11th:
# of Sales
Our $1M sales count was up 9% YoY, instead of down – yippee! But nobody in this market should get giddy about pricing in general – it is flat, at best.
Now that Spence has been featured on every major media outlet as the prince of real estate, the stuff in his book carries more weight – whether it’s true or not. He makes the point at every stop that Starbucks is good for real estate values, so…….
The owners of the Beachside Del Mar also own the Del Mar Highlands Town Center.
Here’s my new listing at the north end of Del Mar Heights, listed for $1,650,000. Kayla and I will be there both days this weekend, 12-3pm, for the open house extravaganza! If you are thinking of moving and wonder how we can help, this is a good chance to see how we work – come on by:
Kayla and I saw this house on broker preview day in May, and filmed this for a potential buyer. It has since closed for $3,050,000 cash last month, which shows how Del Mar Terrace is getting more love these days!
I said in the video that you’d be seeing some dazzling sunsets, but, if so, it would only be in the winter that you’d see the sun actually set:
You could make a case that Del Mar Terrace is under-valued, compared to the rest of Del Mar. The views are bigger due to fewer trees, and you can get to the freeway or beach in five minutes – how many places can say that?
Ken Rochetti was the architect of the featured home above, and quite a few others in the north coastal region – here’s one on Whale Watch in La Jolla with some trick drone work:
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