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Category Archive: ‘Inventory’

Inventory Watch

2016-08-20 15.43.32

There has been more hubbub about the market changing, but around San Diego, the stats look solid and remarkably similar to previous years.  Our NSDCC new pendings are staying in a tight range – in the 60s for the last six weeks straight, and generally the inventory is in check – no explosions.

Rich’s additional qualifier of dividing the inventory by the number of sales to determine the “months’ of resale inventory” here helps to show how sales are holding up too:

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Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Aug 22, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

spn

The new listings coming to market finally saw some seasonal slowing this week, dropping from 103 in the previous week to just 77 new listings over the last seven days.  The new pendings increased from 63 to 65!

Last year at this time it didn’t slow down much though.  Between mid-August and mid-September of 2015, the active inventory only dropped 2%.

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Aug 15, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

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For those who saw the July stats and wanted a deeper look, here is a three-month comparison that wraps up the spring selling season:

NSDCC Sales, May-July

Year
# of May-July Sales
Median Sales Price
2011
725
$840,000
2012
886
$850,000
2013
992
$960,187
2014
862
$1,011,500
2015
936
$1,086,250
2016
872
$1,199,990

In spite of the median sales price increasing 10% year-over-year, sales have been hanging tough in 2016.  Will it keep going with distractions like the Olympics, our political circus, and school starting?

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Aug 8, 2016 in Inventory, Jim's Take on the Market, Spring Kick | 0 comments

Inventory Watch

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It appears that our inventory has peaked for the year – all four categories declined this week.

The cost-per-sf of the Under-$800,000 actives has been over $400/sf for ten weeks straight.  Today we hit a record = $423/sf, which is almost as much as the next category up (average $426/sf for active listings priced between $800,000 and $1,400,000).

But the average cost-per-sf in the three higher categories has remained about the same since we started two years ago – or a little lower.

In the last 90 days, 702 sales have closed under $2,000,000 between La Jolla and Carlsbad, and their average days-on-market was 31 days (the median DOM was 17 days!).  If your DOM is triple digits and you don’t feel like lowering your price, you might as well hang it up for the year.

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Aug 1, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

2016-07-23 13.13.42

The new pendings have been a little weaker this month than in recent years.  But we should have a couple of good weeks here, due to low rates, and price reductions – this is when sellers start thinking it’s time to make a move.

New NSDCC Pendings – Four Weekly Counts in July:

2014: 270

2015: 256

2016: 231

You can still get in before school starts!  We closed a sale on Friday that was VA-financed through a mortgage broker in just 34 days!

Look out for Chase though.  Recently they have caused delays of two-weeks, three weeks, and even closed late on a 70-day escrow!

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

Read More

Posted by on Jul 25, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

2016-07-06 13.17.29

Anyone who was planning to sell during the season has probably listed their home for sale by now, and in the next few days we should be reaching peak inventory for the year.  Don’t think that you have missed out though – the low rates should keep buyers engaged.

Today’s median list price in NSDCC?  $2,175,000!

Eighty-eight percent of the houses for sale are priced over $1,000,000!

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Jul 11, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

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The high-end has been sluggish, with eight month’s of inventory in the Over-$1,400,000 category (786 listings/98 closed in the last 30 days).

Now the low-end inventory is building too.

On April 25th, we had 26 listings under $800,000; now there are 57!

In the same time frame, the next category, $800,000 to $1,400,000, has added 33 more active listings too.

The inventory usually peaks between the end of July and middle of August, so we should see more listings over the next couple of weeks!

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Jul 5, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

2016-06-22 10.48.57

Home sellers won’t be thinking much about Brexit – it’s too vague and far away.

What should concern sellers is the calendar – July starts on Friday!  But it’s not because the market cools off in the second half of the year.

Last year, 51% of the NSDCC sales closed in the first half, and 49% closed in the second half.  The median sales price is the first half was $1,127,500, and in the second half it was $1,070,000, which is close enough.

But doesn’t everyone believe that the ‘spring selling season’ is the time to sell?

Yes – the best buys sell first, leaving the picked-overs for the second half!

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

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Posted by on Jun 27, 2016 in Inventory, Jim's Take on the Market | 0 comments

Inventory Watch

2016-06-19 11.01.03

The higher-end inventory has been bloated – today we have 468 NSDCC houses for sale over $2,400,000, and 43 have closed escrow in the last 30 days.

But in the next category down, the number of houses for sale has been rising for weeks.  On April 18th, we had 257 active listings priced between $1,400,000 and $2,400,000, and now we have 344 for sale, which is a 34% increase in just two months – and during the selling season!

Click on the ‘Read More’ link below for the NSDCC active-inventory data:

Read More

Posted by on Jun 20, 2016 in Inventory, Jim's Take on the Market, North County Coastal | 1 comment