Back in the day when there weren’t loads of short sales, we used to compare the actives to pendings to get a read on the relative ‘health’ of the marketplace. 

With banks pushing harder to close the short sales (though the timelines are still uncertain), and because the buyers who have secured a short sale have hopefully done so at an attractive price making it more likely for them to hang around, let’s add the listings marked ‘contingent’ to the pending category:

Here’s our scorecard, historically, of the ACT/PEND ratio:

0-2 Hot market

3-4 Regular market

5-6 Market in trouble

7-8 Too many choices

9+ Freefall

Town or Area ACT PEND+CONT A/P+C
Carmel Vly 212
69
3.07
Carlsbad 481
227
2.12
Del Mar/SolB 201
36
5.58
Encinitas 189
73
2.59
La Jolla 265
54
4.91
RSF 271
36
7.53
Totals 1,619
495
4.27

There were days that RSF and La Jolla were 10.0+. Can we call it relatively healthy now?

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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