There is a fine balance where more supply would be soaked up by the excess demand. Boy, it’s a fine line though because the inventory hasn’t been blowing up:
NSDSCC New Listings Per Month:
Feb: 191
Mar: 227
Apr: 219
May: 161
At this rate, the new-listings count in May will probably be in the 230-250 range which would be in line with expectations. It would be natural to have more listings in April and May than in March due to the 2023 market conditions improving so rapidly, but maybe the euphoria has only begun to draw more sellers into the market….and they want all the money, apparently!
If the new listings aren’t blowing up, yet the active inventory is growing, it means price is the issue.
Of the 161 NSDCC listings this month, only 26 have have gone pending.
The six active listings in La Costa Valley got trimmed to five with Avenida Ciruela going into pending status, and four of the five actives had open house on Saturday! The weather was funky because a 50% chance of rain was forecasted early in the morning, but it never rained. The turnout was moderate (at best) however, and we had one threat of an offer.
We are the least-expensive of the bunch now, and should be the next to drop into the pending category just because of that – but you never know. Camino Serbal has gone quiet and is the one for sale that’s not doing open houses (after having three last weekend), so I think they must be close to a deal.
If we do get one or more offers and can make a deal in the next day or two, it will leave the three in the middle vying for the attention of the remaining buyers:
This is where it will get a little queasy with my sellers.
If we can get into escrow now, and then those three go down later, it might feel like we left money on the table if they end up closing for more. But they might not sell for those prices, or even sell at all.
We’re all in flight, hoping to navigate through a crowded space. Land the plane!
My car got waxed today and he did such a nice job that you can see the power lines in my hood!
The impact from the power lines happens immediately when you round the corner because they can be seen from the street over the neighbor’s home. As a result, there will be people who come to the open house who won’t stop and just keep on driving, which we will accept. We tried to compensate by touching everything else, and putting an attractive price on it.
When the house doesn’t back directly and the power lines are off to the side, will buyers shrug them off? We’ll find out this weekend!
Another new LCV listing was added today, which makes SIX active listings in a neighborhood that had NO active listings three weeks ago. The new listing on Cereza is the same floor plan as the one I just sold ten days ago on Avenida Castana for $2,000,000.
We need to have 1-2 of these sell this weekend or it will look like a glut is forming!
This 6,125sf oceanfront home in North Carlsbad listed for $13,200,000 in February. It closed for $11,475,000 cash this week! The sellers had paid $6,350,000 in 2013.
After a long stretch of nothing, we’re heading into the weekend with FIVE active listings in La Costa Valley, which should make for an exciting open-house weekend! There were rumors of an offer on the Davidson Plan 4 on Camino Serbal, and if the highest-priced listing sells first, it should give a boost to the others.
Our listing on Corte Cidro looked even better when Vista Acedera was priced at $2,275,000, and Camino Robledo was at $2,499,000. But now that both have smartly lowered their prices, it tightens the race.
Of the five contenders, we have the best backyard and the only listing with two bedroom suites downstairs so we might have an audience the others don’t. But our location is near the utility easements which might provide a challenge to those who have visceral reaction to power lines.
We don’t back to the power lines – they are off to the side – but they are visible.
I made a conscious decision to leave out photos that showed the power lines, and made no mention of them in my remarks. People can figure it out if they know the neighborhood and/or are using their Google Maps efficiently. I want people to see it in person, and then judge if they can live with it.
It is only a visual thing, because there isn’t a physical threat from power lines. The microwave oven tested 10x higher, and you don’t hear anyone tearing those out:
Open house 12-3pm on Saturday and Sunday, May 20th & 21st!
Are you looking for the ultimate entertainer’s home with resort-style backyard perched above it all on a hilltop mesa with panoramic views? Check out this dream backyard with a tropical solar-heated pool, slide, swim-up grotto, BBQ island, fire pit, outdoor shower, and plenty of party space. The perfect great room overlooks the lagoon-like pool area so you can keep a close eye on the kiddos and it features an upgraded granite/stainless kitchen too! Multi-gen buyers will love the TWO possible bedrooms/full baths downstairs which are ideal for work-from-home or for guests! Other features include hardwoods, new carpet & paint, fireplace, and plenty of natural light. Wow – this is a trophy property!
Are you looking for the ultimate entertainer’s home with resort-style backyard perched above it all on a hilltop mesa with panoramic views? Check out this dream backyard with a tropical solar-heated pool, slide, swim-up grotto, BBQ island, fire pit, outdoor shower, and plenty of party space. The perfect great room overlooks the lagoon-like pool area so you can keep a close eye on the kiddos and it features an upgraded granite/stainless kitchen too! Multi-gen buyers will love the TWO possible bedrooms/full baths downstairs which are ideal for work-from-home or for guests! Other features include hardwoods, new carpet & paint, fireplace, and plenty of natural light. Wow – this is a trophy property!
Have you been seeing Encinitas Ranch and La Costa Valley homes selling in the mid-$2 millions and higher, and wish you could get something similar but with a bigger yard on a culdesac for less money? Check this out!
Downstairs bedroom suite with full bath, hardwood floors, remodeled kitchen, new carpet & paint, new lighting, newer windows, fireplace, 3-car garage, and an extra-large 10,014sf lot that backs to open space. There is enough room to play catch, and this is dog paradise! The 6th bedroom is bonus room upstairs.
