The number of active listings between La Jolla and Carlsbad is 24% higher than they were last year at this time, and the pendings are +27%, which indicates that the demand has been strong enough to pick up the additional supply.
But it has to be at its limit, doesn’t it?
If the supply stays about the same in 2025, then sales and pricing should stay about the same – this has been the equilibrium year, and it could continue indefinitely as long as rates stay in a range.
But if the supply rises another 20% next year, it would make sense that there would need to be some give on the other end – either sales will plummet as buyers detect a change, and/or prices get softer.
Those listings that are languishing on the market are indicating one thing – they are inferior in some way. The condition isn’t good enough, the floor plan is wacky, or the location isn’t great. All of which price can fix!
