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Category Archive: ‘Inventory’

Inventory Watch – Similar to 2014

This season is looking a lot like last year, with some reluctance.  No flood of new listings, but buyers are more hesitant too:

Week
New Listings/New Pendings 2014
New Listings/New Pendings 2015
2nd in Feb
81/76
81/67
3rd in Feb
80/70
86/63
4th in Feb
88/71
83/64
Totals
249/217
250/194

The New Pendings coming in 10% under last year’s count isn’t a big deal, but it probably means that we won’t be seeing a full frenzy in 2015.

Over the last five weeks the big RSF auction had skewed some of the inventory averages below because they had it listed on the range $10,000 – $36,000,000.

Click on the link below for the complete NSDCC active-inventory data:

Posted by on Mar 2, 2015 in Inventory | 0 comments

Inventory Watch – Cooking

Buyers are hitting the streets in full force now. We’ve had 60+ new pendings for three weeks in a row, which hasn’t happened since July. Of the 63 new pendings this week, eleven had been on the market less than 7 days, and eight had been on the market for more than 100 days.

It appears that list-price averages are going to stay above $400/sf. Remember when Carmel Valley sales averaged $330/sf for a couple of years!

Click on the link below for the complete NSDCC active-inventory data:

Read More

Posted by on Feb 23, 2015 in Inventory, Jim's Take on the Market | 0 comments

2015 Pendings By Price Range

Reader 97212 thinks that much of the Under-$800,000 inventory is graduating to higher price points, which is true.  As buyers grab what they can on the lower end, sellers will keep bumping higher.

The median list price of houses for sale from Carlsbad to La Jolla is $1,995,000, and below that it’s really been hopping.  Here are the number of new listings in 2015, and new pendings this year:

Price Category
# of New Listings, 2015
# of New Pendings, 2015
Ratio
Under-$800,000
119
103
1.2:1
$800K-$1.4M
217
134
1.6:1
$1.4 – $2.4M
153
78
2.0:1
Over-$2.4M
149
41
3.6:1

New pendings this year include properties that were listed last year. These are incredibly hot numbers in a market that has already seen 20% to 30% appreciation over the last couple of years. All it will take is for sellers to be reasonable about reading what the market will bear, and it should continue!

Posted by on Feb 17, 2015 in Inventory, Jim's Take on the Market, North County Coastal | 1 comment

Inventory Watch – Casa Del Sol

Want to see more inventory? Just go up in price! Of the NSDCC houses for sale, 81% are listed at $1,000,000 or higher, and 48% are over $2,000,000!

The stats will be slightly skewed due to this property coming up for auction. They priced it on the range $10,000 – $36,500,000 so it affects all categories, and the MLS doesn’t allow for a property to be removed prior to running stats:

http://www.sdlookup.com/MLS-150002719-15651_Puerta_Del_Sol_Rancho_Santa_Fe_CA_92067.

Here is the video tour of it:


Casa Del Sol — from Concierge Auctions

Click on the link below for the complete NSDCC active-inventory data:

Read More

Posted by on Jan 26, 2015 in Interesting Houses, Inventory, Jim's Take on the Market | 4 comments

How Bleak?

Those in the hunt for a house have noticed how tough the inventory has been.  How bad is it?

If you don’t mind spending $2,000,000 or more, there are plenty of choices – in fact, there are 344 NSDCC houses for sale listed at or above $2,000,000.

It’s the lower ranges that are really suffering.

Here are the counts of houses listed for sale at or under $1,000,000:

City or Area
Houses For Sale Under $1,000,000
Avg. LP-per-sf
Carlsbad
107
$341/sf
Carmel Valley
12
$414/sf
Encinitas
11
$404/sf
La Jolla
6
$635/sf
Del Mar
5
$584/sf
Solana Beach
4
$661/sf
Cardiff
2
$496/sf
RSF
0
0
Total
147
$396/sf

For an area with a population of 300,000, that’s not much meat on the bone!  The only choices for buyers are uncomfortable too:

1. Figure out how to go higher in price.

2. Consider fixers or condos.

3. Go further out.

4. Wait, and hope it gets better.

December is the slow month for new listings.  The last two Januarys have had the 5th and 6th highest new-listing counts of the year.  Here is how we stack up to previous years:

January New Listings

2011: 515

2012: 409

2013: 410

2014: 413

2015: 230 (so far)

When is the best time to sell? When everyone else isn’t!

Posted by on Jan 20, 2015 in Inventory, Jim's Take on the Market | 4 comments

Inventory Watch – No Flood

Two weeks ago we had 700 NSDCC houses for sale, and today there are 720. It would appear that new listings are just trickling in, and/or the new listings are going pending as soon as they hit the market.

But actually it is neither – instead, 81% of the 94 new pendings in that period are those experienced listings who get smarter about price as they go.

Click on the link below for the complete NSDCC active-inventory data:

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Posted by on Jan 19, 2015 in Inventory, Jim's Take on the Market | 10 comments

Inventory Watch – Relists

There have been 116 new listings of NSDCC houses this year. As expected, 61 of those were on the market last year (53%), and that’s not counting the sellers who listed with a different company.

Why are listing agents allowed to intentionally deceive the consumer? You’ll have to ask the district attorney about that one, because there is nobody within the industry that is doing anything to stop it. Get Good Help!!

Click on the link below for the complete NSDCC active-inventory data:

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Posted by on Jan 12, 2015 in Fraud, Inventory, Jim's Take on the Market | 1 comment