Prices are moving up rapidly on the lower-end of each market.
People complain that there is no inventory, but part of the reason is that sellers are pricing much higher. Buyers in the mid-to-higher-end of each market will get a smaller house or yard, but those on the lower-end are quickly getting priced out altogether.
Here are the number of detached homes sold in the last 12 months, and the number of active listings today:
|Town and Price Point||#Closed last 12 mo.||#ACT Listings|
|Oceanside Under $300K|
|Carlsbad Under $600K|
|Encinitas Under $700K|
|Carmel Vly Under $900K|
|La Jolla Under $1.1M|
Where it stops nobody knows, but you can expect the bidding-war intensity to be extremely hot on the lower-ends of each market.