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
|SS & REOs|
** 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.