Some snips from the recent C.A.R. Housing Market Forecast.
Our median sales price is close to the record set in May, 2006. But we know that around San Diego’s North County Coastal region, most prices are well above their previous peak by at least 10% to 20%:
Not enough attention is directed towards the importance of clients working with realtors who are well-versed in bidding wars – especially when under $1,000,000. Look at these stats:
The suggestion that foreigners and flippers have taken over the market doesn’t appear to be true – owner-occupants are still the vast majority of homebuyers:
Sellers are making out great – and a few more are leaving the state:
C.A.R. is forecasting a 1% gain in sales next year – I’ll take the under!
Jim. Any observations as to the supply of qualified willing buyers at these levels? Low inventory doesn’t mean much when buyers aren’t there.
Jim. Any observations as to the supply of qualified willing buyers at these levels? Low inventory doesn’t mean much when buyers aren’t there.
Yes, and very hard to gauge the actual number of ready, willing, and able buyers at these prices.
Low inventory means buyers are probably having to look at more homes they won’t buy, which sends the wrong signal to the listing agent who proudly declares to all that “we’ve had so many showings!” All we know from that is how many aren’t interested – that’s it.
On my last listing I had three offers originally, and two more when it fell out, and Joe had two offers on his entry-level house in Carlsbad. I’d call that fairly thin demand.
Around the NSDCC this month we’ve had 209 houses go pending – a third of those were priced under $1 million, and 50% were between $1 million and $2 million. Pretty balanced there.