The national homes-for-sale inventory is on the rise (reported here), but it’s just another vague soundbite. The local numbers are what matter – here are today’s active listings of detached-homes between La Jolla and Carlsbad:

Date NSDCC Listings Avg. LP $$/sf
Jan 14
649
$722/sf
Feb 4
667
$716/sf
Feb 10
679
$713/sf
Feb 25
678
$719/sf
March 6
727
$703/sf
March 11
744
$698/sf
March 16
746
$703/sf
March 23
755
$712/sf

How does the new listings coming on the market compare to previous years? Here are the total number of NSDCC detached-homes listed between Jan. 1st and March 20th:

Year New Listings Avg. LP-per-sf
2011
1,284
$444/sf
2012
1,105
$450/sf
2013
1,100
$503/sf

Not much difference in the count year-over-year, but the +12% increase in the average list-price-per-sf is noteworthy. Why are sellers so optimistic? Closed sales are up 15% YOY:

Year Closed sales Avg. SP-per-sf
2011
445
$371/sf
2012
477
$365/sf
2013
549
$388/sf

The 6% YOY increase in average cost-per-sf should be on the rise.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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