NSDCC Sales, First Six Months

by | Jul 3, 2018 | Jim's Take on the Market, North County Coastal, Sales and Price Check

Here are the NSDCC sales stats from the first six months of each year, going back to the beginning of the 2-out-of-5-year capital-gains tax exclusion – which helped trigger the ensuing bubble. I used the April rate because it was about the middle of the Jan-Jun time period:

Year
# of Sales
Median SP
April 30-Yr Mortgage Rate
1997
927
$360,000
8.14%
1998
1,535
$430,000
7.14%
1999
1,567
$455,000
6.92%
2000
1,706
$535,000
8.15%
2001
1,423
$570,000
7.08%
2002
1,905
$620,000
6.99%
2003
1,771
$690,000
5.81%
2004
1,756
$936,500
5.83%
2005
1,548
$980,000
5.86%
2006
1,373
$995,000
6.51%
2007
1,387
$1,000,000
6.18%
2008
1,016
$936,250
5.92%
2009
899
$795,000
4.81%
2010
1,232
$825,000
5.10%
2011
1,281
$845,000
4.84%
2012
1,477
$815,000
3.91%
2013
1,670
$919,950
3.45%
2014
1,430
$1,020,000
4.34%
2015
1,555
$1,120,000
3.67%
2016
1,523
$1,150,000
3.61%
2017
1,587
$1,225,000
4.05%
2018
1,402
$1,324,000
4.47%

Yes, sales are down 11% year-over-year, but note that we are selling nearly as many homes as we did when prices were in the $400,000s and $500,000s.

Back then did you guess that today’s NSDCC median sales price would be about 3x as high, at $1,324,000?  We are seeing some market adjustments today, but we’re making about 1,700 new millionaires every day in America!

Where will pricing be in another 10-20 years?

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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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