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Inventory Watch – Prime Time

We are heading into the best part of the selling season, and once we get past tax day and Easter it should be full steam ahead for about two months. New listings have increased by about 20% in the last two weeks, and buyers have responded with additional pendings (scroll to bottom).

North SD County’s Coastal Region (La Jolla-to-Carlsbad)

The UNDER-$800,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
November 25
95
$376/sf
47
1,988sf
December 2
79
$371/sf
50
2,047sf
December 9
72
$383/sf
43
1,954sf
December 16
81
$378/sf
42
1,948sf
December 23
77
$374/sf
49
1,937sf
December 30
76
$373/sf
51
1,950sf
January 6
74
$370/sf
49
1,995sf
January 13
71
$381/sf
44
1,921sf
January 20
72
$384/sf
41
1,877sf
January 27
75
$399/sf
40
1,891sf
February 3
78
$409/sf
41
1,876sf
February 10
82
$395/sf
38
1,927sf
February 17
85
$387/sf
35
1,929sf
February 24
90
$383/sf
37
2,008sf
March 3
82
$397/sf
39
1,942sf
March 10
88
$377/sf
37
2,008sf
March 17
89
$366/sf
34
2,038sf
March 24
79
$369/sf
34
2,031sf
March 31
78
$367/sf
39
2,069sf
April 7
87
$373/sf
32
2,054sf
April 14
97
$380/sf
31
2,000sf

The $800,000 – $1,400,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
November 25
245
$448/sf
61
2,856sf
December 2
239
$448/sf
64
2,851sf
December 9
226
$461/sf
65
2,812sf
December 16
211
$464/sf
66
2,794sf
December 23
197
$453/sf
73
2,813sf
December 30
173
$450/sf
78
2,821sf
January 6
170
$470/sf
65
2,757sf
January 13
168
$463/sf
59
2,764sf
January 20
174
$444/sf
51
2,882sf
January 27
166
$435/sf
52
2,902sf
February 3
165
$441/sf
53
2,857sf
February 10
175
$443/sf
51
2,852sf
February 17
180
$447/sf
50
2,803sf
February 24
188
$438/sf
44
2,846sf
March 3
202
$421/sf
44
2,936sf
March 10
215
$431/sf
41
2,854sf
March 17
223
$421/sf
42
2,918sf
March 24
217
$419/sf
42
2,941sf
March 31
223
$425/sf
44
2,887sf
April 7
224
$428/sf
44
2,881sf
April 14
233
$429/sf
44
2,892sf

Read More

Posted by on Apr 14, 2014 in Inventory, Jim's Take on the Market | 0 comments

No Inventory Surge…Yet

Yesterday reader Mozart mentioned how the inventory number had spiked over at the Department of Numbers:

http://www.deptofnumbers.com/asking-prices/california/san-diego/

DoN stats

But the 36% increase is a mistake – today, there are 6,575 detached and attached active listings on the MLS.  They had the same type of occurance last year too, and the following week it dropped back down to the correct number.

The pricing is messed up too – have you seen any sellers backing down?  Me neither, and certainly not in the beginning of April – they will wear out the selling season before thinking about a lower price.

Here are the recent weekly counts of new listings of detached and attached homes around NSDCC:

Week
Det. & Att. New Listings
Avg. LP/sf
Feb 18-24
146
$486/sf
Feb25-Mar3
163
$536/sf
Mar 4-10
163
$512/sf
Mar 11-17
144
$517/sf
Mar 18-24
162
$483/sf
Mar 25-31
128
$496/sf
Apr 1-7
166
$512/sf

No flooding here – a fairly steady stream though.

Last year the increase of new listings between the months of March and April was only 6% – it probably won’t be much different this year. Without new meat, the sales momentum won’t be as predictable.

Posted by on Apr 10, 2014 in Inventory, Jim's Take on the Market | 4 comments

Warren Zevon

A guy who left us too soon – from wiki:

http://en.wikipedia.org/wiki/Warren_Zevon

By September 1975, Zevon had returned to Los Angeles, where he roomed with then-unknown Stevie Nicks and Lindsey Buckingham. There, he collaborated with Jackson Browne, who in 1976 produced and promoted Zevon’s self-titled major-label debut. Contributors to this album included Nicks, Buckingham, Mick Fleetwood, John McVie, members of the Eagles, Carl Wilson, Linda Ronstadt, and Bonnie Raitt. Ronstadt elected to record many of his songs, including “Hasten Down the Wind”, “Carmelita”, “Poor Poor Pitiful Me”, and “Mohammed’s Radio”. Zevon’s first tour in 1977 included guest appearances in the middle of Jackson Browne concerts, one of which is documented on a widely circulated bootleg recording of a Dutch radio program under the title The Offender meets the Pretender.

Though a much darker and more ironic songwriter than Browne and other leading figures of the era’s L.A.-based singer-songwriter movement, Zevon shared with his 1970s L.A. peers a grounding in earlier folk and country influences and a commitment to a writerly style of songcraft with roots in the work of artists like Bob Dylan and Joni Mitchell.

In 1978, Zevon released Excitable Boy (produced by Jackson Browne and guitarist Waddy Wachtel) to critical acclaim and popular success. The title tune (about a juvenile sociopath’s murderous prom night) name-checked “Little Susie”, the heroine of former employers the Everly Brothers’ tune “Wake Up Little Susie”, while songs such as “Roland the Headless Thompson Gunner” and “Lawyers, Guns and Money” used deadpan humor to wed geopolitical subtexts to hard-boiled narratives. Tracks from this album received heavy FM airplay and the single release “Werewolves of London”, which featured Mick Fleetwood and John McVie, was a relatively lighthearted version of Zevon’s signature macabre outlook and a Top 30 success.

Critic Dave Marsh, in The Rolling Stone Record Guide (1979), called Zevon “one of the toughest rockers ever to come out of Southern California”. Rolling Stone called the album one of the most significant releases of the 1970s and placed him alongside Neil Young, Jackson Browne, and Bruce Springsteen as one of the four most important new artists to emerge in the decade.

Posted by on Apr 9, 2014 in Wednesday Rock Blogging | 0 comments

San Diego Sales & Prices

Here is the March sales activity reported in a fairly unbiased manner.  But the realtors blamed year-over-year drop on winter?

From KPBS:

http://www.kpbs.org/news/2014/apr/08/san-diego-real-estate-market-shows-improvement/

soldReal estate in San Diego regained some ground in March, with the median price of a single-family home rising 4.3 percent to $490,000, according to the San Diego Association of Realtors.

In a report issued Monday, the local real estate group said the price of a house sold in March was 4.3 percent higher than in February and up 13.4 percent compared with March 2013.

Sales were up 32.5 percent, with nearly 1,800 homes sold last month. But compared with sales in March 2013, sales were down 15.4 percent, according to the association.

Condominium and townhouse prices were up 1.7 percent month-to-month, with the median price at $305,000. Compared with last March, prices were up 7 percent. Sales were up 14.7 percent, with 827 units sold in March.

Compared to last year, sales of condominiums and townhomes were down 17.3 percent.

Year-to-date figures reflect a wintertime slowdown in the market, according to the association.

In the first quarter of the year, nearly 4,500 single-family homes sold, down 18.7 percent from same quarter in 2013. Quarter-to-quarter condominium and townhome sales — 2,300 –  were down 9.6 percent.

Posted by on Apr 9, 2014 in Sales and Price Check | 4 comments