This is our third look this year at a house in the Ranch of Carlsbad – the other two closed over $4,000,000 (one famously at $1,000,000 over list). This property didn’t sell in the first month, probably due to the interior looking somewhat original and in the Ranch – where lots are at least a half-acre – buyers expect more usable yard. The listing went live on April 7th at $3,400,000, they lowered it a month later to $3,250,000, and then it went pending on May 27th. It closed three weeks later for $3,175,000, which is a modest 2% discount off list.
Total Number of NSDCC Actives & Pendings:
June 13: 354/202
June 16: 370/180
June Sales, MTD: 90
Hi Jim-
Are you still seeing multiple offers in any market segments? Or has the frenzy really calmed overall? Here in Raleigh some Realtors are still seeing strong demand, others seeing what you’ve been writing about: longer (than last year anyway) days on market, and some price reductions- which personally I attribute largely to sellers just figuring out how much they can push, rather than a fundamental market softening. We still have very low inventory, good absorption and lots of people moving here. And the rates have been high long enough now to get some indication if they’re going to have a broad effect or not.
Thank you as always-
Shawn
We offered $2.0 on a $2.15 and lost yesterday, and my last two listings (in May) both got three offers each. I have two listings coming up that will be a great test – stay tuned.