The shortage of inventory during the prime selling season is astonishing – we haven’t had a spring like this in recent history.
Compare the new listings of detached homes in the North SD County Coastal area (Carlsbad to La Jolla) that hit the MLS between April 1st and May 7th, and closings during the same period.
NSDCC New Listings vs. Closings, April 1 – May 7
|Year||# of New Listings||# of Closings||Ratio||New Listings LP $/sf-Closings $/sf||LP-SP Gap|
If sellers can live with today’s prices, it is a great time to sell!
I think the pricing gap shows who is in control – the bigger the gap, the more critical buyers are being about getting a deal.