Here’s video testimony regarding market conditions around San Elijo Hills/South Carlsbad.
In the 92009, 92011, and 92078 zip codes, there have been 228 houses marked pending this year, not counting contingents (71 of those new pendings have closed already). All that is left are the picked-over listings, and in today’s market, a house has to be really wrong on price to not find a buyer.
Will it mean higher prices? Maybe, maybe not. There has to be a steady flow of sales to sustain momentum – and this could be a momentary blitz that could sputter if the supply dries up:
The youtube link: http://youtu.be/gdUxiGiPlK0