Historically, we have considered our market to be relatively ‘healthy’ when the actives-to-pendings ratio is around 2.0 – but that thought originated when prices were about half of what they are today!
Here are the stats for the NSDCC detached-home market (La Jolla to Carlsbad):
|Oct 28, 2015|
|Feb 1, 2016|
|Mar 23, 2016|
|June 21, 2016|
|Aug 17, 2016|
|Dec 4, 2016|
|Apr 21, 2017|
Considering that we have record-high pricing in most areas, it is phenomenal to see so many pendings – and so few actives!
Actives Median Price = $2,350,000
Pendings Median Price = $1,299,000
Only 10% of the actives are under $1,000,000, and 35% are over $3,000,000!
Here are the Actives/Pendings ratios for each area. If you remove La Jolla and RSF, the A/P = 432/336, or 1.29 to 1!