The market’s direction will be determined by inventory, and San Diego is #1 on Bill’s list for the biggest percentage drop year-over-year. Also consider how the San Diego metro compares to others that had a similar number of new listings in April:
| Metro Area | |||
| Boston | |||
| San Diego | |||
| Portland | |||
| Columbus | |||
| Jacksonville |
Our market is starved for inventory, so you really can’t blame sellers for pushing it, price-wise. Buyers may back off some, and not as many listings will sell. But when the success rate of listings-that-sell has been an unusually-high 80% to 90%, we can afford some additional failure.
We’re going to have fewer sales. Panic selling? Probably not.
https://calculatedrisk.substack.com/p/final-look-at-local-housing-markets-a11
We do have three offers on the Carlsbad entry-level condo, all over $800,000 (list is $750,000). I have four showings today of the La Jolla masterpiece, two of which are come-backers. I think I’ll have multiple offers by tomorrow.
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