The graphs below were posted at Piggington by jacarandoso, and appear to be for the City of SD.
The last two show a decline in list prices, and an uptick in listings for the city, but in the county over the last two weeks the new listings have been a little less than in the previous two years:
| New Listings Oct 1-14 | 2009 | 2010 | 2011 |
| Detached | |||
| Attached | |||
| Totals |
There will be stragglers who upload listings over the next few days, but the inventory doesn’t appear to be bulging for the county at-large. Nobody will be surprised to hear that there is pent-up supply, and when and where is finds its way to market will be an interesting development. I see more and more long-time owners listing their homes, and estate sales, but that might just be my little world.
Here are Redfin’s graphs – first the average price/sf, then the number of actives in the inventory:
The number of sales graph is interesting. Look at Peak Sales in ’04/05 and the peaks keep decreasing until 2008 (stimulus). After 2008 the Peaks start decreasing again.
You can really see it between Peak 2008 and Peak 2011.
Jim,
That sharp drop in listing price… how much do you think of that is cancelled listings, and how much of it is really “price drops”?
It seems to me that when I look at inventory there are basically the fantasy holdouts and perpetual never-closing short sales. Any reasonably priced proprties that can ACTUALLY be Bought don’t last long in the “active” status.
Any chance we have something seasonally happening?
Would be great to see previous years’ info as well.
Chuck
Yes on seasonal – I added the Redfin graphs and they show the inventory’s seasonality pretty well.
On the sharp drop on price – though the line is steep the actual was only 508-488 = $20,000 for 4%. There has to be seasonality in there, and it’s hard to measure with our MLS. I’ll check cancellatons later.
It’s not a tax, it’s a bond!
http://latimesblogs.latimes.com/money_co/2011/10/california-muni-bond-sale-go-lockyer-state-tax-free-yields-.html
This is how California prints money.