The number of NSDCC listings this year is +12% over last year’s count between Jan 1 and Aug 31. But the La Jolla-to-Carlsbad inventory is 40% less than it was in 2019, much like the -38% in San Diego above.
Elsewhere the inventory has been exploding well above their 2019 counts, and panic has to be setting in. If you don’t mind buying out-of-state, there has to be some deals!
Price drops start in the middle of the country and work their way to the coasts.
When prices are going up it starts on the coasts and works it’s way to the middle of the country.
At least that’s what I saw the last couple of times.
San Diego is kind of unique in that there’s ocean to the west, Mexico to the south, Pendleton to the north, and mountains to the east. This keeps new suburbs from being developed which allows properties to better maintain value.
However if banks start forecloseing again it could affect San Diego more than other areas because typically buyers are more leveraged on the coasts.