The other day I popped off about how the market was deteriorating and we’d be lucky to see 100+ monthly sales the rest of the way in 2024. What do I know? Here is the sales data for this month so far:
There are two solid weeks left in July – could we get to 200 sales this month?
If so, it will leave the pendings drawer a little light – we’re down to 169 homes in escrow today. But there are 505 actives, and when the coming-soons are included, the count is up to 528 detached-homes for buyers to choose from!
The June median list and sales prices were outliers – the rest of the pricing data looks steady, though the buyers are looking for discounts now – and judging by the 96%, the sellers are obliging!
My new listing (below) went over list price though, and I have buyers in a 5-offer bidding war on a different home right now so there is plenty of hot action:
It’s musical chairs and everyone knows the music is slowing down. Get out soon or take your chances and wait until next spring.
Agree – and think of the impact from the political chaos.
Buyers have never had to worry about that before, and now Trump looks like he will win in a landslide – mostly because the democrats are melting down right before our eyes.
I couldn’t believe it yesterday when they announced Biden has covid, yet they let him out in public and showed him walking slower than ever. Think those clips will be replayed 1,000s of time over the next 3 months?
Even if it is sub-conscious, buyers have to be wanting to settle into their new home quick!
Looks like it’s slowing a bit here in South OC, finally. It seemed like the entirety of Los Angeles descended upon us.
I’m seeing a lot of listings in the $3M – $4M range turn into rentals or cancel, which is bizarre. I wonder if the madness will continue south and hit you guys down there in NCCSD. I had my eyes on one of those by the golf course off of the 56 but the wife said no. : (