Are you thinking, “what can I expect this year?”
For those watching the new listings that are hitting the MLS these days, it may seem familiar. So far, the 2010 Spring Kick is looking much like last year’s.
Courtesy of our friends at Housingtracker.com, we’re seeing the usual uptick in new inventory, similar to recent years:
But during the Spring Kick season last year, the median list price of higher-end new listings went ballistic – between February and June, the median asking price rose from $663,000 to $865,958, an increase of 30%:
We haven’t seen that happen in recent years, did it cause the higher-end pricing to increase? Below is the graph of just the 75th percentile of North SD County Coastal region monthly median sales prices, showing relatively-flat pricing:
In 2009, the monthly detached sales for North SD County Coastal looks relatively normal – the usual increase in closings between May and August, with some extra pop in September and October, once sellers got off their high horse:
Look for a flood of overpriced higher-end homes coming on the market, but a relatively dull Spring Kick, because the buyers aren’t going for it. Either homesellers price it right, and sell, or they don’t.