The reason for breaking down the active and pending listings by zip code is to give the readers a closer look at their neighborhood stats.
Our Big Three zip codes – where you can still buy a decent house for $2,000,000 – are still having more pendings than actives (highlighted below), but let’s note how strong the pending counts are in La Jolla and Rancho Santa Fe too:
The median list price in La Jolla today is $5,422,500, and in RSF it is $7,700,000!
We can also track the average market times too. Upward trends here would indicate market slowing:
All four categories have improved recently, and the high-end $3,000,000+ average market times have been in the tightest range over the last few months!
Some may call this the off-season, but the only reason that the numbers aren’t any better is because the number of new listings is so low. Brace for impact in 2022!
Your last sentence makes it seem like it’ll crash or hit a wall in 2022?
My bad, and thanks for pointing that out.
I was thinking the impact from additional and more-intense frenzy will be hard to take.
yeah, that’s what I felt reading your article 🙂
I have major FOMO for either a detached home or a second condo to put up for rent.
I think locally we are in for another 10+ % in the spring.
There just aren’t enough homes in the market, inflation is up, rates down… and i don’t have enough money!
… and i don’t have enough money!
And/or it always seems like somebody else has more!