It feels like we have been experiencing sharply-rising prices, especially on the higher-end.
There should be some relief coming – here is the history of asking prices for San Diego County, broken down into the 25th, median, and 75th percentiles by our friends at the Department of Numbers:
Sellers are exuberant in early spring, then as inventory grows, their pricing power starts to wane. Or at least it has in the recent past!
|Date||NSDCC Active Listings||Avg. LP $$/sf|
Sellers will know quickly if their price has a chance – the buyer feedback is immediate, and a great guide. On my MLS hotsheet yesterday, there were 18 of the 31 new pendings that had a market time of less than 10 days.
But it was also the first time I could remember in the last couple of months that the new pendings didn’t equal the number of new listings (51:31).