Osidebuyer asked about the under-$500,000 market, how hot is it? Here are the SD County detached stats from the MLS for January 1 to March 23 (TNL = Total New Listings):
While it looks smoking hot to have 2,589 sales averaging 100% of list price, sales are down substantially, even though the number of new listings were about the same as last year. As soon as pricing tries to advance, sales slow.
How about the action over $500,000?
The higher-end sales have picked up with pricing staying relatively flat – but new listings seem to be pouring on the market. Keep your eyes on the OPTs – they don’t seem to be moving, and if they don’t sell in the next 30-60 days, they’re going to be cooked.