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:
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.