In spite of higher rates, the spring selling season has delivered, though the second half of 2023 is TBD. Thanks Steve Harney and Ryan Lundquist for the graphics!
Spring Upswing
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2023
NSDCC April Sales & Pricing, Preliminary
Here is the early count on April sales between La Jolla and Carlsbad, with YoY and MoM comparisons: There will be some late-reporters but April sales won't get up to the 184 sales we had in March - which will probably end up being the best month of 2023 (remember that...
Prices Expected to Bottom
Price-wise, we are back to where we were at the end of 2021, so the data above should still be in the ballpark. Glad to see that San Diego isn't considered as wildly overvalued - it's expensive here and people can afford it, apparently. I like that the J.P. Morgan...
Up or Down?
We know that 80% of readers don't go past the headlines, so the UT is challenging their customers lately to figure out the direction of the real estate market. These are their headlines from the past two days: I have reached out to the author previously, but no...
‘Panic Buying’
To hear more stories like this and a wide array of opinions, click here: https://twitter.com/SullyCNBC/status/1649240769658605570 Remember when I was on CNBC with Sully in 2011? He used to live in Carmel Valley!
NSDCC Spring Market Update
In this graph from two weeks ago we saw that there were 28% of the NSDCC detached-home sales in March that closed over their list price. Because it's one of my favorite ways to judge the market conditions, I did a check on the numbers for April so far: NSDCC April...
Superior-Home Frenzy
My one post-frenzy prediction was that there wouldn't be any more sales under $2,000,000 in the Davidson-built Starboard tract in La Costa Oaks (the last was $2,150,000 in October). We've finally had a closing here in the middle of April. They had to knock off $4,000...
Frenzy Monitor
We are in the middle of the home-selling season, which means this will be as good as it gets for 2023. The balance of buyers and sellers has been remarkably steady. Over the last 90 days, the number of active listings has been in a tight 10% range, and the pendings...
Market Check
The recent bounce-back has been impressive with 183 NSDCC closings in March, which is better than the sluggish start that I expected. The 101% looks like a good sign too. Was it an overall market improvement that will keep growing? Or just a lucky stretch of...
Inventory Watch
While the number of NSDCC active listings has been as steady as anyone could imagine (above), the median list price has been climbing rapidly this year: January 9th: $3,495,000 April 10th: $4,074,997 The NSDCC median list price has risen 17% in three months! With...
