Usually Donna writes the introduction to our newsletter, but I took a stab at it today:
Hi, Jim here!
I’ve been asked to describe the current market conditions as we enter summer.
Our local market is defying the usual labels. If it were a pure buyer’s market, then home sales would be suffering – but sales are as strong as they were last year.
Here’s a new label – Sellers Go First.
Gone are the days when a potential home seller could grab the highest sale nearby and add 5% or so to determine their list price – and buyers be willing to pay it.
Buyers are being patient, and are comfortable waiting for a new listing to sit for weeks to test its price. The longer it goes, the lower they offer, if at all. It’s a real headfake too, because a new listing will get visitors, but almost all are just looking, not buying. For them, it feels safer to stay on the fence!
But the superior homes that are attractively-priced are selling briskly. Thirty percent of this month’s sales between La Jolla and Carlsbad have closed over their list price!
The market is fine, and flowing. Jump in!
Are you thinking of moving?
Let’s discuss timing – call or text me today at 858-997-3801
Speaking of buyer activity, at the local agent pitch session this week, there were 80 agents who spoke up about 132 buyers they have looking for a home between La Jolla and Carlsbad. (I got the list of them later so it was easy to count)