The unsolds are rising quickly with +96 since mid-February.
In 2024, we didn’t have 462 active listings until the middle of June!
But South Carlsbad and Carmel Valley are cruising along nicely with their actives-to-pendings ratios within the 2:1 standard we use to gauge a healthy market.
The number of actives is +23% above last April, and the number of pendings is 17% lower – the result that we’ve been talking about since October. It’s mostly a higher-end problem and it won’t work itself out.
Sellers will just be content to wait and see, cancel their listing for the holidays, and be back again next year….at the same price.
Mr. Reffkin is in town and we’ll be getting together this afternoon. Full report coming!