New Peak

Jim's Take on the Market | Sales and Price Check

July 15, 2014



The North SD County Coastal region (Carlsbad to La Jolla) has 1,091 houses for sale currently – and 78% of them are listed over $1,000,000. If you take Carlsbad out of the mix, then 90% of the homes for sale are listed over $1,000,000!

How do the 2014 sales compare?

Though the median sales price is at a new peak, sales remain strong. In spite of this year’s median SP being 20% higher, sales were 10% higher than in 1H11.

Here are the first-half (Jan-June) sales for each year:

Jan-Jun	# of Sales	Median SP	Avg DOM	# New Listings – 1H
2001	1,423	$570,000	52	3,297
2002	1,905	$619,562	159	3,171
2003	1,771	$690,000	61	3,063
2004	1,752	$935,500	47	2,920
2005	1,548	$975,000	58	2,891
2006	1,373	$990,450	65	3,547
2007	1,387	$1,000,000	71	3,119
2008	1,016	$936,250	76	3,009
2009	899	$795,000	78	2,877
2010	1,232	$825,000	75	2,966
2011	1,281	$845,000	84	3,046
2012	1,477	$815,000	86	2,545
2013	1,670	$919,950	51	2,790
2014	1,412	$1,014,000	50	2,700

The number of listings isn’t directly related to the number of sales, but is a great indicator. Look at how the number of new listings was declining until 2006, then as sellers sensed a peak, the inventory exploded. As long as new listings stay in check, buyers will probably stay in the hunt.