Yesterday during our regular broker preview, I went on a thorough tour of homes around the southern part of NSDCC – Del Mar, Solana Beach, RSF, and Carmel Valley.  As expected, the ‘overpriced-ness’ was astounding.

Are buyers going for it yet?

There are 462 active listings of detached homes in those areas, averaging 148 days on market.  It sure seems like buyers are willing to be patient!

Is there demand?

Here is a comparison of NSDCC detached sales closed between December 1st and January 15th:

Period # of sales $$-per-sf DOM
Last Year
273
$393/sf
91
This Year
279
$354/sf
85

Here is the same chart for just those four areas:

Period # of sales $$-per-sf DOM
Last Year
91
$439/sf
101
This Year
92
$369/sf
96

There are plenty of buyers for well-priced homes, but there is quite a spread – the list prices of active detached listings in DM, RSF, SB, and CV are averaging $689/sf!

Can sellers hold out long enough to outlast the buyers’ patience?

Pin It on Pinterest