There are other variables, but the amount and quality of the inventory will determine our fate in 2018. Even with our Sandicor MLS logging duplicate listings, our count of houses for sale between La Jolla and Carlsbad dropped about 10% this year!
It wouldn’t matter if we cut back on the number of higher-end listings – there would still be plenty to go around. Where did the shortage happen this year?
The number of high-enders were remarkably about the same as last year – the shortage this year was almost entirely on the lower end.
Today, there are only 41 houses for sale priced under $1,000,000. There will be more, but I think we can expect the number of sellers willing to take less than a million to drop even further in 2018 – less than 1,000 for sure, and possibly as low as 700-800 listings.
There were 882 NSDCC houses sold this year under $1,000,000 (so far). We could still have close to that many sell again in 2018 if the frenzy picks up on the cheapies and virtually every listing sells.