Inventory Watch – Healthy Week

September, 2013 is wrapping up, and currently this month’s closings of NSDCC detached-homes are averaging $468/sf, which is 7% above last month’s $436/sf, and 25% higher than last September’s $373/sf.

But there have only been 220 closed sales, with one day left plus late reporters. Last September we had 289 closings, back when the frenzy was taking root.

But with much higher pricing, we can expect fewer sales. In September 2010 we had 220 sales, and in 2011 we had 228 sales, and in both months the average pricing was under $400/sf:

The UNDER-$1,200,000 Market:

The OVER-$1,200,000 Market:

Reader elbarcosr suggested that “it would be interesting to see how different the upper end would look if the numbers were for 1.2-2.5 which would capture the higher end of Carmel Valley, low to mid RSF and most of the coast…. while eliminating the uber high end which, for the most part, is not swayed by buyer frenzies and daily ticks of the interest rates….”.

This is what the split looks like today, I’ll see about re-formatting the whole group for next week:

The $1,200,000 – $2,500,000 Market:

The OVER $2,500,000 Market:

We had a strong week below – can the media quit saying that higher rates are killing the market? Once sellers get their price right, there appears to be plenty of buyers. Price will fix anything!

Weekly NSDCC New Listings and New Pendings