Nov/Dec Sales

For those who’d like some data to share over the holiday table, let’s compare two months’ worth of sales to help smooth out the extremes.

Here are the combined November and December NSDCC detached-home sales:

Year
# of Sales
Avg. Cost-per-SF
Median SP
2011
396
$361/sf
$788,250
2012
535
$408/sf
$875,000
2013
398
$480/sf
$1,055,000
2014
341
$501/sf
$1,100,000

Once this month closes out, we should hit around 400 sales too, which is incredible, considering how much higher prices are today. The cost-per-sf and the median sales price are both 4% higher than in 2013.

‘Axis of Housing Happiness’

Today’s GDP report should make a few people giddy, but this guy is way ahead:

Next year is going to be a great one for real estate, two pros in the sector told CNBC on Monday.

For broker Fred Glick, it’s all about jobs, oil prices and interest rates, which translate into more money in consumers’ pockets and more confidence.

“This is all going to turn around to a happiness. I call it the axis of housing happiness in that you have jobs, you have low oil prices and you have low interest rates,” Glick told “Closing Bell.”

“This is great, I love it here.”

http://www.cnbc.com/id/102290355

Spring is The Best Time to Sell?

Everyone believes that the best time to sell your house is springtime.

But we threw out all the standard beliefs once the government stepped in and screwed up all the natural market forces.  Looked how it turned out this year.

If it weren’t for a blip that caused the June’s average cost-per-sf to be three percent higher than in October, the April-through-July stretch would have been the worst of the year:

graph (54)

Volatility is higher too. Look at how the cost-per-sf was bouncing around this year, compared to the previous years.  Thankfully, mortgage rates have had the biggest impact, and today they are in the threes:

int rates

In the summer of 2013, rates jumped 1/2% on a rumor – there is enough instability worldwide that it wouldn’t take much for rates to jump again.

Sellers should consider getting their house on the market sooner, not later.

Get Good Help, and get it done – January will be great!

Inventory Watch – Christmas

The average LP-per-sf is lower this week than the same week last year in every category below. The average DOM and average SF are worse too. Anyone who lists their home for sale this week has to be motivated – keep an eye out!

The UNDER-$800,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
November 25
95
$376/sf
47
1,988sf
December 2
79
$371/sf
50
2,047sf
December 9
72
$383/sf
43
1,954sf
December 16
81
$378/sf
42
1,948sf
December 23
77
$374/sf
49
1,937sf
December 30
76
$373/sf
51
1,950sf
January 6
74
$370/sf
49
1,995sf
January 13
71
$381/sf
44
1,921sf
January 20
72
$384/sf
41
1,877sf
January 27
75
$399/sf
40
1,891sf
February 3
78
$409/sf
41
1,876sf
February 10
82
$395/sf
38
1,927sf
February 17
85
$387/sf
35
1,929sf
February 24
90
$383/sf
37
2,008sf
March 3
82
$397/sf
39
1,942sf
March 10
88
$377/sf
37
2,008sf
March 17
89
$366/sf
34
2,038sf
March 24
79
$369/sf
34
2,031sf
March 31
78
$367/sf
39
2,069sf
April 7
87
$373/sf
32
2,054sf
April 14
97
$380/sf
31
2,000sf
April 21
87
$377/sf
32
2,062sf
April 28
107
$379/sf
29
2,044sf
May 5
114
$376/sf
27
2,046sf
May 12
108
$385/sf
31
2,012sf
May 19
107
$385/sf
0
0sf
May 26
105
$375/sf
34
0sf
Jun 2
102
$376/sf
36
0sf
Jun 9
102
$377/sf
37
0sf
Jun 16
104
$369/sf
35
0sf
Jun 23
111
$380/sf
34
0sf
Jun 30
119
$376/sf
36
0sf
Jul 7
122
$387/sf
36
0sf
Jul 14
127
$388/sf
34
0sf
Jul 21
135
$381/sf
36
0sf
Jul 28
144
$382/sf
37
0sf
Aug 4
148
$379/sf
39
0sf
Aug 11
135
$375/sf
42
0sf
Aug 25
135
$374/sf
43
0sf
Sep 1
126
$377/sf
46
0sf
Sep 8
130
$375/sf
46
0sf
Sep 15
134
$369/sf
45
0sf
Sep 22
127
$376/sf
49
0sf
Sep 29
132
$378/sf
48
0sf
Oct 6
130
$367/sf
48
0sf
Oct 13
131
$378/sf
44
0sf
Oct 20
130
$385/sf
45
0sf
Oct 27
128
$375/sf
48
0sf
Nov 3
128
$371/sf
49
0sf
Nov 10
126
$366/sf
52
0sf
Nov 17
115
$367/sf
51
0sf
Nov 24
122
$373/sf
46
2,007sf
Dec 1
113
$375/sf
46
2,007sf
Dec 8
113
$372/sf
50
2,028sf
Dec 15
108
$366/sf
53
2,053sf
Dec 22
101
$364/sf
52
2,044sf

(more…)

Born To Be Wild?

seniors

Doesn’t there have to be a segment of baby boomers who are looking for adventure, and want to head out on the highway?  If so, will the warmer-climate San Diego be a net gainer, or loser?  If there is a senior exodus to free up money and lifestyle, it would make sense that the more-expensive areas like Southern California would see more seniors leaving.

From the nytimes.com:

http://www.nytimes.com/2014/12/20/your-money/selling-the-family-home-is-liberating-for-many-retirees.html

When is a house your safe haven and when is it standing in the way of richer life experiences?  That’s the question more and more retirees are asking these days.

Take Barbara and Mike West and Joseph and Phyllis Applebaum, retirees and longtime Maryland residents.

After years of analyzing their financial situation, the Wests decided to put the mortgage-free suburban house they had owned for 26 years on the market. They wanted to avoid the mid-Atlantic winters and considered moving to Hawaii, where they had lived while Mr. West was in the U.S. Navy.

But they decided it was too remote. They also ruled out San Diego, Savannah, Ga., and Charleston, S.C. Florida, they decided, was a possibility.

They considered renting their Maryland house out for part of the year, yet the idea of storing some of their household goods and someone else sleeping in their bed changed their minds.

Of the decision to sell a mortgage-free home, Barbara West, 63, said it would give them a chance to dream and to explore. Besides, “It’s a lot of money locked up in the house,” said Ms. West, who retired from her job as a lobbyist two years ago. “It’s a nice side benefit. It will free up money. We’ll have more flexibility. We’re kind of looking at it as an adventure.”

Read full article here:

http://www.nytimes.com/2014/12/20/your-money/selling-the-family-home-is-liberating-for-many-retirees.html

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