Here are the statistics from North SD County’s Coastal region (La Jolla to Carlsbad), comparing house sales closed between June 1st and August 31.
In some areas, the summer of 2007 was just as hot as the previous year, but for the majority, the highest average pricing was in 2006 – let’s compare it to the summer of 2013 (DOM = average days on market):
|Area or Town|
In Del Mar and Encinitas, the average cost-per-sf was higher this year than in 2006. Carmel Valley and South Carlsbad were both within 10% too.
Anyone with a pulse could get a mortgage in 2006, yet look at how the number of sales is higher now in almost every area!
We talked yesterday about the average days on market, and whether the faster sales are a result of market efficiency, or outright desperation on behalf of the buyers – it’s probably some of both?