It was reported yesterday that inventories across the country have been approximately 23% lower than last year. How has it been lately around our North SD County Coastal region?
This year’s summer count of detached new listings is only 14% fewer than last year. There were 857 detached listings taken between June 2nd and August 3rd in 2012, compared to 995 taken last year. Here is how it looks on a weekly basis:
More than half of what you see doesn’t sell.
Of last year’s 995 listings, only 450 of them sold.
Subjectively speaking, incoming inventory of the type I’m looking at in 92130 seems to have completely stopped about 2 or 3 weeks ago.
If they haven’t sold; must mean they are asking too much.