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