fbpx

The 2023 real estate forecasts keep coming in.

With the radical change in market conditions, the annual statistics are going to look dramatically different from the more recent activity – look at these differences in home sales between La Jolla and Carlsbad.

NSDCC 2022 Annual Sales, and Sales Since Nov 1st:

Data Point
Jan 1-Dec 20
Nov 1-Dec 20
% Difference
Median LP
$2,292,500
$1,989,000
-13%
Median SP
$2,321,000
$1,890,000
-19%
Median DOM
15
28
+87%
Median SF
2,727sf
2,609
-4%
Median $/sf
$828/sf
$740/sf
-11%
Average $/sf
$970/sf
$826/sf
-15%

My guesses?

I’m predicting a +5% change in the current NSDCC median sales price of $1,890,000 which gets us back to almost $2,000,000. Combine the softer pricing with current seller disappointment and the damage has been done – the 2023 local inventory should be so low that it helps to create a floor in pricing.

Here are several more opinions:

https://www.forbes.com/sites/brendarichardson/2022/12/19/experts-predict-what-the-housing-market-will-look-like-in-2023/

Pin It on Pinterest