A reader suggested that the Inventory Watch needed more categories, and you can see why below. The lower-end is ultra-thin, and the high-end is full with the Wait-and-See sellers. The Over-$2,400,000 market has had 249 closings this year, and there are still 340 active listings, or a 15-month supply.
The $1.4 to $2.4 category is the Carmel Valley premium market, so I started with that and created the other categories from there:
North SD County’s Coastal Region (La Jolla-to-Carlsbad)
The UNDER-$800,000 Market:
| Date | ||||
| November 25 |
The $800,000 – $1,400,000 Market:
| Date | ||||
| November 25 |
The $1,400,000 – $2,400,000 Market:
| Date | ||||
| November 25 |
The OVER-$2,400,000 Market:
| Date | ||||
| November 25 |
An interesting twist is continuing. Buyers tend to gravitate towards the new listings, hoping to find a hot buy. But new pricing must be fairly unattractive – of the 183 new listings this month, only 35 have gone pending (19%).
Weekly NSDCC New Listings and New Pendings
| Week | ||
| May 30 | ||
| June 5 | ||
| June 11 | ||
| June 17 | ||
| June 24 | ||
| July 1 | ||
| July 8 | ||
| July 15 | ||
| July 22 | ||
| July 29 | ||
| Aug 5 | ||
| Aug 12 | ||
| Aug 19 | ||
| Aug 26 | ||
| Sep 2 | ||
| Sep 9 | ||
| Sep 16 | ||
| Sep 23 | ||
| Sep 30 | ||
| Oct 7 | ||
| Oct 14 | ||
| Oct 21 | ||
| Oct 28 | ||
| Nov 4 | ||
| Nov 11 | ||
| Nov 18 | ||
| Nov 25 |
Are these new listings coming on line “market ready” and “motivated”?
Taking the other side of the argument, generally at this time of year I think the bargain hunters come out as well. (Black Friday shoppers Just kidding).
Most of the “normal” buyers are busy with holiday and family until after January or even spring.
Are these new listings coming on line “market ready” and “motivated”?
Theoretically they could be, and if so, the demand could be faltering as we speak. Plus, will those buyers who are taking a holiday come back in spring and pay more? I doubt it.
But from what I see, the inventory has been picked clean of anything close to a decent buy, and now what’s left is garbage or priced wrong/badly represented.