$1 Million-Plus Club

by | Mar 11, 2010 | Actives/Pendings, Market Conditions, North County Coastal, Thinking of Buying? | 7 comments

Just the fact that so many more higher-end sales are closing these days is noteworthy, the NSD County Coastal sales of detached $1,000,000+ homes have increased 55% on a year-over-year comparison (and if you take out La Jolla, the others increased a total of 79%!)

Let’s chart the $1,000,000-plus market. Here are the number of active and pending detached listings, the 2009 and 2010 closed sales between Jan. 1 and March 10th, and the number of trustee sales YTD of SFRs that have a Foreclosureradar value of at least $1,000,000:

Town or Area ACT PEND/CONT SOLD ’09/’10 YTD Trustee Sales YTD
Carmel Vly
90
30
14/19
5
Carlsbad
85
29
6/11
2
Del Mar
102
17
12/11
1
Encinitas
107
22
7/17
4
La Jolla
191
44
23/23
2
RSF
252
37
10/28
2
Solana Bch
42
6
3/7
3
Totals
869
185
75/116
19

Sales are healthier, how does pricing compare?

Town or Area ACTIVES PEND/CONT SOLD ’09/’10 YTD
Carmel Vly
$415/sf
$354/sf
$364/$341
Carlsbad
$490/sf
$360/sf
$420/$295
Del Mar
$1,294/sf
$705/sf
$700/$815
Encinitas
$591/sf
$425/sf
$423/$404
La Jolla
$1,009/sf
$673/sf
$834/$566
RSF
$698/sf
$472/sf
$538/$433
Solana Bch
$730/sf
$553/sf
$701/$541
Totals
$591/sf
$358/sf
$378/$361

Price will fix anything!

7 Comments

  1. swm
    swm on March 11, 2010 at 2:30 pm

    Jim, nice coverage of the big bombers, but I wonder: aren’t there any mobile homes for sale anymore. That’s gotta be affordable.

  2. JP2
    JP2 on March 11, 2010 at 3:03 pm

    It could be that more people who own $1M+ homes want out, even if values are going down.

  3. doughboy
    doughboy on March 11, 2010 at 3:57 pm

    I don’t see anything wrong with spending $1M on a home of thats what it takes to get what you want. But you have to second guess $1,000.00 per square foot anywhere in San Diego. $500.00 per seems absurd…

  4. Kwaping
    Kwaping on March 11, 2010 at 4:13 pm

    Holy price drops, batman!

    Doughboy, where would you *not* second guess $1000/sf? San Diego is as good a place to live as anywhere, IMHO.

  5. doughboy
    doughboy on March 11, 2010 at 4:24 pm

    Kwaping:
    I’m a big fan personal space on a working persons budget. Unless some family member I have not met yet has a chunk of money earmarked for me, $1M for a 1,000 sq ft bungalow anywhere would not make me very happy!

  6. duncbdunc
    duncbdunc on March 11, 2010 at 4:26 pm

    I’d pay $1000/sqft in a heartbeat if the house sat on a $10 million slice of water front property. But only if the house was at least 30% smaller than 10,000 square.

  7. justme
    justme on March 12, 2010 at 3:44 pm

    Wow…check out Del Mar. Is it really all that, waterfront excluded?

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