NSDCC Annual Sales

Jim's Take on the Market | North County Coastal | Same-House Sales

January 13, 2015

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3 Comments

How did 2014 stack up to previous years?

Year	No. of Sales	Median SP	Median DOM
2002	3,717	$630,000	38
2003	3,932	$732,500	34
2004	3,363	$948,000	27
2005	3,014	$1,000,000	40
2006	2,626	$985,000	51
2007	2,479	$1,000,000	49
2008	2,037	$890,000	54
2009	2,223	$817,000	52
2010	2,461	$830,000	46
2011	2,562	$825,000	57
2012	3,154	$830,000	46
2013	3,218	$952,250	25
2014	2,838	$1,025,000	28

A. Look at the similarities between the median SP in 2003-2005, and the last three years. In both cases, the frenzy caused a large increase one year, followed by a smaller jump the next year. It then plateaued in 2006 and 2007, in spite of the easiest credit ever. I think we can expect a similar plateau-like event in pricing.

B. In 2014, we had 3% fewer listings, but 12% fewer sales than in 2013. The pricing strategies being employed are less effective than before.

C. Over the last two years, more than half of the sales occurred within the first month the house was on the market.

Expect more of the same this year!

3 Comments

Jim the Realtor on January 13, 2015 at 8:11 am

NSDCC 2014:

1st Half Sales: 1,429
2nd Half Sales: 1,409

Some late-reporters should bring those numbers even.

The seasonal aspect has diminished, mostly because sellers over-price in spring.
Jiji on January 14, 2015 at 1:59 pm

Rates just hit a fresh low, you would think that would start something.
Jiji on January 14, 2015 at 2:03 pm

Mortgage Applications Soar as Consumers Snap up Low Rates

http://www.wsj.com/articles/mortgage-applications-soar-as-consumers-snap-up-low-rates-1421236802