This year was one of the best ever for us. We had our highest sale ever ($7,750,000), our highest average sales price ever ($1,870,835) and more people on my next-year’s client list than ever before – thank you!
The local market between La Jolla-to-Carlsbad fared pretty well too, all considered.
I suggested that there wouldn’t be any sales under $2,000,000 in the Davidson Starboard tract, and there wasn’t (the only one to close escrow since our $2,250,000 sale was across the street at $2,150,000).
I hoped we would have at least 100 NSDCC sales per month, and it looks like that will happen (we have 93 closed this month, as of today). Relatively-speaking, prices have held up too – but sales have plunged, which means sellers aren’t budging much, at least not yet.
Annual Detached-Home Sales Between La Jolla and Carlsbad
| Year | |||||
| 2017 | |||||
| 2018 | |||||
| 2019 | |||||
| 2020 | |||||
| 2021 | |||||
| 2022 |
I will finalize the 2022 numbers next year, but you get the idea – we’re not going to hit 2,000 sales this year, after having almost 3,200 sales in each of the last two years.
Long-time reader GeneK left this comment last night:
The youngest boomers won’t hit retirement until 2030, and most of them will probably live another 20 years or so after that. How long will it be before that estate-sale marketplace takes hold, and will there be a retirement-sale marketplace for a while before that happens?
The housing stock between La Jolla and Carlsbad are generally older homes, with the exception being Carmel Valley. As a result, most of them are owned by the baby boomers, and they don’t want to move! Because they are comfortable with aging-in-place, the inventory of homes for sale will likely be very limited for the next 5-10 years – no matter what the prices are.
The median $/sf went up 25% this year, after going +29% last year!
