We’ve seen it happening over the last few months, and Mozart noted that the third-tier list prices keep rising.
According to housingtracker.net, the third tier median list price today in San Diego is $875,000, which is 13% higher than TWO MONTHS AGO, and 33% higher than January, 2008.
(link to housing tracker)
Here’s an example of the optimism on the street. I don’t blame the guy for trying, but it sure seems like the odds are stacked against him:
There have been 21 closings this year of houses over $1,000,000 in Carlsbad, about 4 or 5 per month. There are 130 for sale, or a two-year supply – plenty for everyone!