NSDCC First Half

by | Jul 22, 2020 | Jim's Take on the Market, North County Coastal, Sales and Price Check, Virus

Will our local market survive the coronavirus?

Let’s look at the bigger picture and compare the first half of 2020 to previous years:

NSDCC 1H Listings & Sales

Year
# Listings
Median List Price
# Sales
Median Sales Price
2016
2,999
$1,425,000
1,526
$1,150,000
2017
2,712
$1,425,000
1,595
$1,225,000
2018
2,701
$1,499,000
1,420
$1,325,000
2019
2,725
$1,555,000
1,383
$1,300,000
2020
2,290
$1,675,000
1,150
$1,400,000
19vs20
-24%
+8%
-17%
+8%

There have been a fairly-consistent 2,700 NSDCC houses listed for sale in the first half of each of the last three years. In 2020, the count dropped to 2,290, which is 435 fewer listings than last year, or about a month’s worth. We didn’t miss them much either, with sales only being down 17%. Pricing of homes on the lower end has known no throttle.

If we have a typical second half, the 2020 annual sales could end up only being down 5% to 8% for the year – and median pricing up 5% to 10% YoY. I’m not sure anyone predicted that when the ‘rona broke out!

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