Just the fact that so many more higher-end sales are closing these days is noteworthy, the NSD County Coastal sales of detached $1,000,000+ homes have increased 55% on a year-over-year comparison (and if you take out La Jolla, the others increased a total of 79%!)
Let’s chart the $1,000,000-plus market. Here are the number of active and pending detached listings, the 2009 and 2010 closed sales between Jan. 1 and March 10th, and the number of trustee sales YTD of SFRs that have a Foreclosureradar value of at least $1,000,000:
| Town or Area | ACT | PEND/CONT | SOLD ’09/’10 YTD | Trustee Sales YTD |
| Carmel Vly | ||||
| Carlsbad | ||||
| Del Mar | ||||
| Encinitas | ||||
| La Jolla | ||||
| RSF | ||||
| Solana Bch | Totals |
Sales are healthier, how does pricing compare?
| Town or Area | ACTIVES | PEND/CONT | SOLD ’09/’10 YTD |
| Carmel Vly | |||
| Carlsbad | |||
| Del Mar | |||
| Encinitas | |||
| La Jolla | |||
| RSF | |||
| Solana Bch | |||
| Totals |
Price will fix anything!
Jim, nice coverage of the big bombers, but I wonder: aren’t there any mobile homes for sale anymore. That’s gotta be affordable.
It could be that more people who own $1M+ homes want out, even if values are going down.
I don’t see anything wrong with spending $1M on a home of thats what it takes to get what you want. But you have to second guess $1,000.00 per square foot anywhere in San Diego. $500.00 per seems absurd…
Holy price drops, batman!
Doughboy, where would you *not* second guess $1000/sf? San Diego is as good a place to live as anywhere, IMHO.
Kwaping:
I’m a big fan personal space on a working persons budget. Unless some family member I have not met yet has a chunk of money earmarked for me, $1M for a 1,000 sq ft bungalow anywhere would not make me very happy!
I’d pay $1000/sqft in a heartbeat if the house sat on a $10 million slice of water front property. But only if the house was at least 30% smaller than 10,000 square.
Wow…check out Del Mar. Is it really all that, waterfront excluded?