Has there been much action this month?
Carmel Valley is hopping year-round, and SE Carlsbad, which has about 10% fewer homes than the CV, is active too.
Del Mar and Rancho Santa Fe? Not so much.
Here are the number of houses currently for sale, and those that have gone pending this month, by zip code:
Current Active Listings and Pendings Since Dec. 1st:
January is going to be a quiet month for closings!
Anybody capable of closing a $1.4m home is also savvy enough to run a SALT projection. I think that is having an outsized influence on buyers.
But does having fewer deductions cause buyers to not buy?
It could further stall the up-or-downsizers, but they were already struggling with making sense of a move.
Renters who want to buy a $1.4M house are probably paying $5,000 to $8,000 per month to live in the neighborhood now. They are still going to buy, and might be our only potential buyers anyway.
Assuming we still have buyers! 🙂