I saw this on Greg’s twitter, and thanks to Charlie too. On the ground it seems like the market is wildly out of control, but looking at this chart it looks like we’re just one of the pack.
Does it give buyers any comfort to know that the price explosion is happening everywhere?
There were 250+ people who came to this open house over the weekend:
https://www.compass.com/listing/4690-calle-mar-de-armonia-san-diego-ca-92130/948354570779840417/
Offers over $2,500,000 already.
2022 is off and running!
Great chart Jim. If Case-Shiller had international data I bet we would see something similar as well, indicating a global phenomenon. I doubt it’s all Bay Area expats fanning out around the globe and driving prices up, which is the explanation I have heard so much of regarding San Diego. There is something much bigger going on.
How many more superlatives can we use to describe the meteoric increase in sales prices and bidding wars of 2021? We could see more of this in 2022. Given this it would seem to be a great time to sell. Sell into a bidding war environment where all contingencies are being waived? How does it get any better than that as a seller? Of course you have to have somewhere to go and therein lies the rub….
250?!? Start charging early/premium admission fees. 😉