Inventory Watch – Similar

by | Jul 8, 2013 | Inventory | 3 comments

The previous period had 86 new NSDCC listings, and 64 new pendings.

In the last week we had a 81:53 mix of new listings and new pendings. Even though mortgage rates zoomed higher, there are no real signs of panic here:

The UNDER-$1,200,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
April 29
201
$384/sf
36
2,599sf
May 5
195
$381/sf
36
2,633sf
May 9
207
$387/sf
35
2,624sf
May 18
241
$397/sf
33
2,566sf
May 23
236
$397/sf
34
2,529sf
May 30
230
$391/sf
35
2,591sf
June 5
229
$393/sf
35
2,577sf
June 11
239
$390/sf
34
2,569sf
June 17
246
$389/sf
36
2,577sf
June 24
255
$397/sf
36
2,535sf
July 1
244
$401/sf
38
2,526sf
July 8
256
$398/sf
38
2,530sf

The OVER-$1,200,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
April 29
620
$806/sf
94
5,183sf
May 5
606
$806/sf
93
5,223sf
May 9
628
$808/sf
93
5,150sf
May 18
653
$807/sf
92
5,161sf
May 23
661
$814/sf
92
5,141sf
May 30
659
$805/sf
95
5,222sf
June 5
663
$794/sf
96
5,185sf
June 11
672
$779/sf
96
5,163sf
June 17
661
$787/sf
99
5,164sf
June 24
679
$791/sf
98
5,097sf
July 1
705
$785/sf
94
5,084sf
July 8
702
$779/sf
95
5,100sf

We could consider the market ‘normalized’ if the ratio of new actives-to-new pendings gets to 2:1, which should happen in the next couple of weeks.

Pricing in SE Carlsbad’s 92009 zip code has been on the rise too.  May’s median sold $/SqFt was +17.1%, similar to the +17.8% in Carmel Valley:

http://www.redfin.com/zipcode/92009

3 Comments

  1. avgjoe
    avgjoe on July 9, 2013 at 7:02 am

    If housing falters there will be a new round of money printing. U heard it here first.

  2. Just some guy
    Just some guy on July 9, 2013 at 9:17 am

    @avgjoe

    agreed, you can take that to the bank.

  3. Jim the Realtor
    Jim the Realtor on July 9, 2013 at 9:18 am

    We should be talking about another tax credit in 1-2 years.

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