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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
2000
546
353
1.55:1
$303/$277
9%
2001
727
307
2.37
$339/$283
17%
2002
685
416
1.65
$361/$293
19%
2003
643
398
1.62
$393/$324
18%
2004
657
432
1.52
$491/$419
15%
2005
617
355
1.74
$517/$482
7%
2006
689
297
2.32
$502/$495
1%
2007
665
338
1.97
$529/$458
13%
2008
646
245
2.64
$531/$460
13%
2009
615
210
2.93
$463/$367
21%
2010
626
283
2.21
$475/$376
21%
2011
648
289
2.24
$454/$384
15%
2012
499
331
1.51
$463/$367
21%

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.

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