For those who are casually observing, it is tough to fully grasp the frenzy-like market activity that has been on-going this year.  It seems to intensify each week, as buyers gravitate to each new listing and quickly examine its worth.

If all you see is a listing go pending during its first week on the market, it probably isn’t that remarkable.  But the action behind some of these makes you think that the demand has a long ways to go before being satisfied.

Here are some examples:

We’ve been stalking the Water’s End complex west of the I-5 freeway in SW Carlsbad for the last couple of years.  ProfHoff finally scored the right house, at the right price for her and her husband Tom, paying $740,000 last month.

They are on the same street as this one:

http://www.sdlookup.com/MLS-120029366-6954_Sweetwater_St_Carlsbad_CA_92011

There have been four sales closed in the $600,000s over the last 12 months, yet this listed on the range $795,000 to $819,000.

In the confidential remarks it says that the seller is “very firm” on price, and they were only offering 1.5% commission to the buyer’s agent – and it still went pending after seven days on market!

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Remember the flipper on Nardo in Solana Beach (who paid $729,000 in November)?  It was marked pending right after we saw it here, listed on the range $995,000 to $1,089,000:

http://www.sdlookup.com/MLS-120026756-558_S_Nardo_Ave_Solana_Beach_CA_92075

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There was a time not long ago that we thought we should be buying newer 3,000+ sf tract houses in Carmel Valley in the $900,000s?  Here’s a 3 br/4 ba, 2,424sf house built in 1986 (but decked out since) that listed for $947,000 that didn’t even make it to the open market – it was submitted right into pending:

http://www.sdlookup.com/MLS-120030011-3996_Ambervale_Terrace_San_Diego_CA_92130

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We saw this 2,135sf Torrey Hills listing here, offered on the range $719,000 to $759,000, and it went pending after 15 days:

http://www.sdlookup.com/MLS-120028094-4336_Corte_De_Sausalito_San_Diego_CA_92130

So then same agent listed the same floor plan, in the same complex, with similar canyon setting with no granite but bigger yard on the range $749,000 to $789,000 – and it went pending after 6 days:

http://www.sdlookup.com/MLS-120029182-10833_Corte_De_Marin_San_Diego_CA_92130

That’s about a 5% increase in a month!

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Del Mar remains hot, with several houses closing around $1,000/sf – but those were mostly teardowns closer to the $1,000,000 mark.  This 2,306 sf house built in 1959 had been on the market for $2,500,000 for 150 days with no price reduction.

It went pending last week too:

http://www.sdlookup.com/MLS-120002818-1237_Cuchara_Del_Mar_CA_92014

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We saw the video tour of my new Encinitas listing here.

It found two offers within the first 48 hours of being on the market, and sold for full price, $629,000 – a nice 6.7% increase over what the sellers paid for it 11 months ago:

http://www.sdlookup.com/MLS-120030573-1848_Avenida_La_Posta_Encinitas_CA_92024

My Carmel Valley listing featured around the world thanks to the AP went pending too.

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Hopefully the sellers (and listing agents) of the properties that aren’t selling will realize how hot the market is – and we see an increase in price reductions now that July is less than two weeks away!

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