Who is selling?
This is the fourth reading – this time I checked the last 112 detached-home sales between La Jolla and Carlsbad.
Here are the categories of when the sellers purchased the home they sold:
|0 – 2003|
|2004 – 2008|
|2009 – 2011|
|2012 – 2016|
It has been consistent all year – the majority of sellers are long-time owners, which almost always means buyers are getting a project to some degree. No matter how much work the sellers have done to their house, buyers can plan on spending plenty to bring it into this era, and modify to their tastes.
Buyers should get comfortable with the idea of remodeling just to expand the inventory. It is helpful if you or your realtor can properly assess the repair costs before offering, and know that it’s rare to get a dollar-for-dollar discount.
|Number of Sales|
|Sold in First 10 Days|
Today’s stats are fairly similar to the first reading last December, with the exception being the median sales price up 18% – which isn’t the appreciation rate for every house. It means more of the higher-priced homes are selling.