In Search of Rising Prices

by | Aug 27, 2012 | North County Coastal, Sales and Price Check | 1 comment

This comment was left yesterday regaring why price statistics aren’t going up:

With prices on distressed sales so much lower on a $/sf basis could they be masking gradually rising prices in the Non SS&REO sales?

Are different segments of the market going up in price? Let’s check the prime area of NSDCC (Del Mar, Solana Beach, RSF and Carmel Valley) during the selling season, April 1 – July 31:

Number of Sales/Average Cost-per-SF

Different Segments 2010 2011 2012
All
313/$415
315/$439
386/$414
Non-SS&REOs
270/$421
277/$448
337/$431
SS & REOs
43/$373
38/$373
49/$297
2500-3500sf**
32/$347
32/$395
36/$327
One-Story
81/$474
95/$548
95/$549

** Detached homes between 2,500sf and 3,500sf built since 1999

Judging by these samples, last year had some pricing momentum, and this year had the stronger sales counts. There must have been more sellers who were sharper on price in 2012.

1 Comment

  1. avgjoe
    avgjoe on August 27, 2012 at 7:43 am

    Is it too late in the cycle to get a smokn deal on a house?

    Looks like interest rates will be low for years. I wonder if seniors are hurting on those fixed incomes cause they cant find any yield?
    I hope they dont try and make up returns with stocks like FB.

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