It’s March! How are we doing?
We’ve considered a 2:1 ratio of active-to-pending listings to be a sign of a healthy market. Though pricing is much higher than in the recent past, we’re under 3.0 is all but the highest-end areas:
Here are the Actives/Pendings stats for each area:
The first half of 2018 was very active, so just to stay close would be a win.
Sales in January caught up with last year’s count, and the year-over-year February sales are stronger than expected too – we had MORE sales in 2019! (updated later on March 1st)
NSDCC Closed Sales:
Pricing is soft, but close enough for now.
I can’t speak to the number of sales but the prices I have seen in La Jolla seem to be holding firm if not going up even more. A house close by closed for $100k more just a few days ago than it sold just last year.
Jim: I have noticed your tone on the site has been more pessimistic re: the market the last month or so. I am wondering if that is because you are now associated with Compass or because you think the market is turning?
I don’t think I’m any more negative than usual! 😆
Jim: I have noticed your tone on the site has been more pessimistic re: the market the last month or so.
I’ve been thinking more on that one.
I couldn’t be more optimistic personally – we’ve gotten off to our best start-of-a-year ever, and Compass did play a critical role.
Is guessing that sales will be down 20% considered pessimistic?
I think it is the realistic baseline of what should happen considering where we were in 2H18 (I made my guess in December, 2018). Rates have dropped a bit, and buyers have forgotten all about how 2018 ended, so we are ahead of my expectations. Yippee!
Check back with me in 2H19!