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The month of March is wrapping up next week, and we’re heading into the Easter/Spring Break period.  Local buyers who might take some time off will be offset by the out-of-towners coming in for a look.

The market seems very balanced currently, and our ‘market health’ gauge is supportive.

Historically, we’ve called it a healthy market when Active Listings-to-Pendings have been at a 2:1 ratio, and here’s the count today in North SD County’s coastal region:

Actives: 781

Pendings: 440

Ratio = 1:78:1

It’s the lower end of the market that is really hot.  Of the 440 pendings, 71% of them are listed under $1,500,000.

Only 37% of the actives are priced under $1,500,000!

While there has been a steady flow of new pendings, I haven’t seen many that were a surprise.  I think buyers are being patient, and are hoping that there will be better offerings later – much like sellers are hoping there will be higher-payers later.

Mortgage rates are holding steady too, which means April could be the month that those buyers and sellers who are in tip-toe mode come closer together!

rate check

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