Over List, March

by | Apr 8, 2022 | 2022, Frenzy, Jim's Take on the Market, North County Coastal, Over List | 2 comments

The percentages of sales closed over the list price are higher than in 2021, but will it continue?

NSDCC Monthly Detached-Home Sales, % Closed Over List Price

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NSDCC Average and Median Prices

Month
# of Sales
Avg. LP
Avg. SP
Median LP
Median SP
Feb
224
$2,298,797
$2,257,334
$1,719,500
$1,758,000
March
252
$2,295,629
$2,260,524
$1,800,000
$1,825,000
April
357
$2,396,667
$2,403,962
$1,799,900
$1,828,000
May
300
$2,596,992
$2,581,715
$1,900,000
$1,994,500
June
348
$2,509,175
$2,537,953
$1,900,000
$1,967,500
July
311
$2,421,326
$2,442,738
$1,795,000
$1,855,000
Aug
268
$2,415,075
$2,438,934
$1,897,000
$1,950,000
Sept
278
$2,479,440
$2,445,817
$1,899,000
$1,987,500
Oct
248
$2,754,470
$2,705,071
$1,899,000
$1,899,500
Nov
199
$2,713,693
$2,707,359
$1,999,000
$2,100,000
Dec
189
$2,686,126
$2,664,391
$1,985,000
$2,157,500
Jan
140
$2,828,988
$2,855,213
$2,234,944
$2,240,000
Feb
156
$3,058,406
$3,104,854
$2,149,500
$2,386,500
Mar
206
$3,254,033
$3,342,384
$2,425,000
$2,625,000

The average sales price went up 7% MoM in January, 9% in February, and 8% in March!

The median sales price went up 4% MoM in January, 7% in February, and 10% in March!

THE MEDIAN SALES PRICE IN MARCH WAS 25% HIGHER THAN IT WAS IN NOVEMBER!

This is the craziest real estate market ever!!

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The $1,500,000 – $2,000,000 was the hottest range in March, with 90% of sales closing over the list price.

Here are examples – the average here was 12% over the list price:




2 Comments

  2. Jim the Realtor
    Jim the Realtor on April 8, 2022 at 1:56 pm

    In both Los Angeles and Orange County, the number of homebuyers who applied for a mortgage dropped 18% year over year in February, and in both San Francisco and San Diego the drop was 13%.

    Boston (-7%) Seattle (-5%), and Washington, D.C. (-3%) were among the other pricey coastal metros with year-over-year declines in mortgage applications.

    (it’s ok, we have enough buyers already)

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