NSDCC Active and Pending Listings
All except three of the highest-end neighborhoods (Del Mar, RSF, and Solana Beach) are at a 2:1 ratio of actives to pendings, or better (my measure of a healthy market). La Jolla deserves special recognition – the pendings have blown up there in the last 30 days!
The inventory is running +14% YoY, which should be about the best-case scenario. Just enough extra homes for sale to have buyers be more interested without scaring them off with a big surge.
But let’s note that the total number of pendings is the same as last February, so it’s not a full blown frenzy yet with more homes not selling. If we carry excess unsold homes for a few more months it could look like a glut to the skeptical buyers.
