Here is our regular NSDCC inventory watch:
| Date | NSDCC Active Listings | Avg. LP $$/sf |
| Jan 14 | ||
| Feb 4 | ||
| Feb 10 | ||
| Feb 25 | ||
| March 6 | ||
| March 11 | ||
| March 16 | ||
| March 23 | ||
| March 31 | ||
| April 5 | ||
| April 11 | ||
| April 17 | ||
| April 22 | ||
| April 29 |
Not much change, but it is deceiving because of the split market. Of the 812 active listings, 67% of them are over $1,500,000 – no wonder the numbers aren’t moving much. Here is the split:
The UNDER-$1,200,000 Market:
| Date | NSDCC Active Listings | Avg. LP/sf | DOM | Avg SF |
| April 29 |
The OVER-$1,200,000 Market:
| Date | NSDCC Active Listings | Avg. LP/sf | DOM | Avg SF |
| April 29 |
There is the usual mantra; “more expensive properties take longer to sell”, but in reality those sellers just wait for someone to come along.
Buyers in the upper ranges need to proceed cautiously – look at how many choices there are!
Seems like apples to oranges comparison to me, since the higher-end properties are priced more in terms of premium locations (e.g., Del Mar Heights) and/or oversized lots (e.g., RSF), not square footage.
Agreed – it is the number of high-end listings that makes for a non-frenzy. When you hear that the market is hopping then look at these stats, it becomes clear that the frenzy is uneven.
Don’t think anything is “even” these days! 😉