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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
# of Sales
Median LP
Median SP
Median $/sf
Median DOM
2017
3,084
$1,250,000
$1,225,000
$441/sf
35
2018
2,799
$1,350,000
$1,325,000
$475/sf
24
2019
2,834
$1,360,000
$1,327,750
$482/sf
27
2020
3,190
$1,499,000
$1,483,750
$517/sf
21
2021
3,184
$1,872,412
$1,900,000
$665/sf
14
2022
1,929
$2,289,000
$2,300,000
$828/sf
15

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!

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