How is the 2010 market comparing with previous starts?
North SD County Coastal Detached Homes (from Carlsbad to La Jolla), during Jan. 1-11:
|Year||Total Listed||LP $/sf||Closings||SP $/sf|
The lower number of listings is contributing to the constricted-inventory conditions, and the average list-price-per-sf is reflecting exuberance on behalf of the early listers – we’ll see how they do.
The very-low number of closings makes it look like things fell apart towards the end of 2009, but was there a big rally to close before year-end?
North SD County Coastal Detached, DECEMBER:
|Year||Dec. Closings||SP $/sf||DOM|
Yep, there was a push to close at the end of 2009 – the industry is starved for transactions.
Over 2009 it looks like we just stumbled along in North SD County Coastal region, in spite of being 18% off peak pricing. Here are the yearly totals:
North SD County Coastal Detached, YEAR
|Year||Total # of Closings||SP $/sf||DOM|
If there were more well-priced properties, we could sell twice as many homes. Back in the day, everything was selling, even the crappy deals. Today the buyers are much more discerning, and if the price ain’t right, no sale.