Here’s are the first quarter YOY stats for detached homes in the Carlsbad to Carmel Valley region:
Even with the 45% year-over-year increase in sales for the first quarter, there doesn’t appear to be much pressure on pricing – here is the breakdown by quartile:
There is some extra noise in the higher-end market, probably due more to the specific location and condition of the homes selling each month, than to a trend trying to break out. You can see in the previous two years that there was some price enthusiasm in early spring, but this year we didn’t see as much drop-off around the holidays. Buyers remain picky, but with a limited inventory, how long will the patience hold out?