There will be a few more late-reporters, but it looks like this year’s July sales will be about half of what they were last year:
NSDCC (La Jolla to Carlsbad) July Sales
| Year | |||
| 2016 | |||
| 2017 | |||
| 2018 | |||
| 2019 | |||
| 2020 | |||
| 2021 | |||
| 2022 |
The median sales price was 3% lower than it was in June, but 22% higher than it was last July. A median-priced anything doesn’t give us specific data – it’s only a vague trendline – but it suggests that the higher-priced homes are having more of a struggle finding a buyer.
The declining number of sales does tell us that most sellers are holding out on price (there are 463 active listings with a median list price of $2,999,000). If they are going to sell this year, they need to adjust their price in the next week or two!
I’ll keep this photo handy!
When the recession takes hold, they will be forced to sell. Just watch. Local longtime seniors are running out of money and only have equity left in home. Inflation has depleted their liquid assets. Some have mortgages and reverse mortgages are not an option. White collars are also getting laid off and blue collar and service jobs are plentiful. Good Unemployment numbers are misleading. Can’t buy a home working at Shaky’s Pizza . North County San Diego is now for the Elite’s with Teslas and LuLu Lemon clothes. Not a buzz kill. Just realistic. Time will tell.
Old School clearly doesn’t live in North Coastal San Diego