fbpx

2014Comparing this year’s November sales to the peak years, we can see that last year was a real anomaly, caused by the frenzy kicking into high gear.

You can also see how average pricing trailed the sales count in 2005 and 2006, only to have Angelo goose the market with the no-down, no-doc neg-ams up to $1,500,000 for one last burst in 2007.

With last month’s sales re-calibrating lower, and using the historical trend as a guide, shouldn’t we see the average cost-per-sf start to top out – and be dropping in 12 months?

North SD County’s Coastal November Sales and Avg. $/sf

Year
#Sales
Avg $/sf
Avg DOM
Avg. SF
2002
262
$317/sf
57
2,682sf
2003
310
$368/sf
51
2,927sf
2004
230
$444/sf
55
2,771sf
2005
215
$475/sf
64
2,913sf
2006
184
$466/sf
73
2,657sf
2007
159
$500/sf
78
2,932sf
2008
106
$426/sf
80
2,763sf
2009
193
$415/sf
83
2,814sf
2010
183
$394/sf
88
2,837sf
2011
176
$373/sf
93
3,073sf
2012
241
$415/sf
73
3,015sf
2013
180
$474/sf
55
2,984sf

Of course, this is the new normal.  It’s possible that November sales slowed down because buyers became more picky, and fewer homes were deemed worthy.  This waiting-buyer demand is hard to measure – if you are in that group, let us know your thoughts!

Pin It on Pinterest