The cheerleaders have been saying that the fewer sales this year are being caused by less inventory.  Is that the case?

Looking at the detached-homes between La Jolla and Carlsbad, the number of houses being listed in 2018 looks about the same as in previous years.  But those priced under a million are dropping like a rock.

NSDCC Detached-Homes Listed Between Jan 1 and May 31

Year
Total New Listings
Those Listed Under $1M
2013
2,312
1,044
2014
2,244
865
2015
2,332
822
2016
2,480
697
2017
2,283
590
2018
2,211
433

Questions:

  1. How many realtors can improve their game and adjust to working the higher-end market, when that’s all that’s left?
  2. How will discount brokerages (low cost, low service) succeed in an high-end environment with dozens or hundreds of competing homes for sale?
  3. Will the ibuyers venture into the higher-end market? (companies who do a quick-purchase of your home for cash and resell for a profit)

Home sellers and buyers should take into account how adept their realtors and service providers are at handling different price points.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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