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Reader 97212 thinks that much of the Under-$800,000 inventory is graduating to higher price points, which is true.  As buyers grab what they can on the lower end, sellers will keep bumping higher.

The median list price of houses for sale from Carlsbad to La Jolla is $1,995,000, and below that it’s really been hopping.  Here are the number of new listings in 2015, and new pendings this year:

Price Category
# of New Listings, 2015
# of New Pendings, 2015
Ratio
Under-$800,000
119
103
1.2:1
$800K-$1.4M
217
134
1.6:1
$1.4 – $2.4M
153
78
2.0:1
Over-$2.4M
149
41
3.6:1

New pendings this year include properties that were listed last year. These are incredibly hot numbers in a market that has already seen 20% to 30% appreciation over the last couple of years. All it will take is for sellers to be reasonable about reading what the market will bear, and it should continue!

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