Whether you look at individual sales or market data, we are back to the highest prices ever seen in the hottest areas of town. I couldn’t get these all on one, but looking at two graphs might be easier anyway.
Carmel Valley, Encinitas, and Carlsbad are approaching new peaks:
Area | ||
Carmel Valley | ||
Encinitas | ||
Carlsbad |
Big money attracts a lot of takers if you are selling powerball tickets – but if you have to sell your house to get it, most aren’t interested.
No flood of inventory yet, in spite of near-record prices being available!
You got to live somewhere.
Back to the peak. Yet owners are not selling.
How about that? How much of the graph is an effect of median price and a changing mix in the quality of properties sold?
In 2005-2006, anything that vaguely resembled a house would sell. Right now, the high quality stuff sells well and quickly. But the low quality stuff doesn’t sell so well or at all. Hard to compare?
By the by, talking of selling, the property that shall not be mentioned was updated today.