To help get a sense of the frenzy conditions, let’s monitor the number of active & pending listings per area.
If the active (unsold) listings start to rise, we will know that pricing is becoming an issue.
But so far, the demand for detached homes between Carlsbad and La Jolla is solid, and buyers are enduring prices that are 20% to 30% higher than last year:
NSDCC Actives and Pendings
|Town or Area|
The 92009, 92011 and 92130 (SE Carlsbad, SW Carlsbad, and Carmel Valley) are scorching hot, with 4x, 4x and 3x as many pendings as actives! But Rancho Santa Fe is the most impressive of all. There have been times when there were 10x as many actives as pendings in 92067 – today it’s 1.4x!
With the 30-day closings, there shouldn’t be any drastic changes here – let’s examine the trends over time.
We can also track the average market times too. Any upward trends here would indicate market slowing:
I’ll run this every couple of weeks.