Detached sales in the North SD County Coastal region were smoking hot last month.
The average cost-per-sf has been bouncing along in a 10% range, with a recent spike lately.
There were 280 detached sales in May, the highest monthly sales count since 2005 (in red).
Total sales in the first five months of 2012 have out-performed the last three years too, probably due to slightly lower pricing and rates:
|Year||# of sales, first 5 months||Avg. $/sf|
The 2012 sales were 62% higher than in 2009!
There doesn’t seem to be enough new inventory coming to market to think the trend will continue, but there are 671 houses marked pending or contingent – hopefully that will mean the sales momentum will last a few more months?