People are feeling a ‘change’ in the market, and wonder what will happen. The rapid escalation of prices has turned real estate into a rich man’s game – and you need serious horsepower to participate!
As the rest of North San Diego County’s coastal housing market feels the ‘Rancho’ effect, we will see more listings coming to market, listings taking longer to sell, and bigger gaps between list prices and sales prices.
In the surrounding lower-priced areas, the action has been much faster – we’re used to the quality homes selling in the first week or two. Let’s compare RSF to Encinitas to demonstrate what we can expect from now on:
|Oct Average DOM|
|Oct Average SP:LP|
We’ll have more homes on the market, slower market times, and bigger gaps between the list prices and sales prices. It’s how they do it in the Ranch!
In October there were RSF sales of $9,000,000 (147 DOM), $11,000,000 (0 DOM), and $13,300,000 (4 DOM).
The last seller paid $7,800,000 in 2010.