by Jim the Realtor | Mar 12, 2025 | Frenzy Monitor, Market Conditions, North County Coastal |
Frenzy may not sound applicable these days…..but look at La Jolla getting off to a hot start and leading the pack with 38 pendings, just like last year!
The 92067 is angling towards their pre-covid standard with a 9:1 ratio of actives-to-pendings. Our normal gauge of a healthy market is a 2:1 ratio, but hey, it’s different in the Ranch.
The total number of pendings is about the same as a year ago, in spite of there being +21% more active listings today. Buyers are willing and able to ignore the OPTs!
by Jim the Realtor | Feb 13, 2025 | 2025, Frenzy Monitor
Compared to last February:
NSDCC Active Listings: +18%
NSDCC Pending Listings: -10%
“We’re losing so slowly that it almost feels like winning”, Gary Keller
by Jim the Realtor | Jan 14, 2025 | Frenzy Monitor
So far, 2025 is looking a lot like 2024!
Last year was fantastic, statistically, so if we just mirror those results then this should be a terrific year for local real estate.
by Jim the Realtor | Dec 11, 2024 | 2024, 2025, Frenzy, Frenzy Monitor, Jim's Take on the Market, Market Surge
There are 20% more active listings, and 21% more pendings than we had last December – a monthly trend here in the fourth quarter of 2024 as the demand is keeping up with the supply.
Compare it to August when there were 26% more homes for sale year-over-year, but 17% fewer pendings!
The momentum going into the new year is terrific – it’s going to feel like the frenzy is back!
by Jim the Realtor | Oct 15, 2024 | Frenzy Monitor
La Jolla hit the century mark in active listings but with 28 pendings it seems to be in decent shape.
It’s Rancho Santa Fe that is angling back to its favored 10:1 ratio of actives to pendings.
by Jim the Realtor | Sep 13, 2024 | Frenzy Monitor, Jim's Take on the Market
In La Jolla and Rancho Santa Fe – where being priced to sit is an art form – the active listings are piling up and are at their highs of the year. On the other hand, Carmel Valley is cruising along with their actives-to-pendings ratio is well under our 2:1 healthy mark.
by Jim the Realtor | Aug 16, 2024 | Frenzy Monitor, Jim's Take on the Market
Compared to last year, there are 25% more sellers not willing to get realistic about the value of their home. It’s fine, as long as they don’t mind waiting for all the other better buys to clear out – and it might be a loonnnggggg wait.
The median days on market for the 484 unsold listings is 45 days now (average is 58 days on the market). The existing inventory is so picked over, that virtually none of the listings that have been on the market for more than two weeks (which is 77% of the total number of actives) have a chance of selling unless they radically change their price.
It is such a great time for hot new listings to hit the open market though. Of the 156 pendings, 39% of them found their buyer in the first two weeks on the market! There are deals to be done!
by Jim the Realtor | Jul 15, 2024 | Frenzy Monitor |
The numbers were fairly steady through the May reading…..but the number of unsold listings have jumped in most areas now (with Encinitas and La Jolla at, or near, all-time highs). The current inventory of 507 actives is 23% higher than last July!
Rancho Santa Fe is on its way back to its old pattern of having 10x the number of actives vs. pendings.
The second half of 2024 is probably going to be relatively unsuccessful for the current sellers who have been on the market for 30+ days – they aren’t priced to move now, and it’s unlikely they will adjust enough to be an attractive buy (which would probably take a discount of -10% or more).
If they all have to come back next year….plus those who decided to wait out the political circus….plus the usual sellers, the 2025 inventory could feel like a real surge. I already have three different sellers who are choosing to wait until 2025 to put their home on the market!
NSDCC Total Number of Listings and Median List Price, First Half of the Year:
2019: 2,722, $1,550,000
2020: 2,324, $1,650,000
2021: 2,266, $1,899,000
2022: 1,812, $2,350,000
2023: 1,468, $2,500,000
2024: 1,663, $2,715,000
If the number of listings explodes next year, these price gains are going to need to mellow out.
by Jim the Realtor | Jun 12, 2024 | Frenzy Monitor
Almost all areas are bursting with active listings. Encinitas has joined La Jolla and Rancho Santa Fe in the “List ‘Em High And Let Them Fly” category. The median list price in the 92024 is $2,998,000!
Will buyers be affected? Will they notice?
La Jolla and Rancho Santa Fe don’t allow for-sale signs in the yard so you won’t notice just by driving around. The City of Encinitas is 20 square miles so having 75 signs probably won’t look like a glut. The average DOM is 40 days in Encinitas – once it gets up to 71 like it is in the Ranch, then buyers might take notice.
by Jim the Realtor | May 15, 2024 | Frenzy Monitor, Jim's Take on the Market, North County Coastal
This chart shows identifies the hot spots, and not-so-hot spots, as compared to last year. Southeast Carlsbad and Carmel Valley both have substantially more pendings this year, and NW Carlsbad and Encinitas have roughly double the number of actives and where potential gluts might be forming.
Overall, there are 25% more active listings, and 21% more pending listings – so much of the additional inventory is getting soaked up.
Pricing is about the same as last year:
NSDCC Median List Price of Active Listings
May 15, 2023: $3,749,400
May 15, 2024: $3,895,000
NSDCC Median Sales Price in May
2023: $2,362,500 (178 sales)
2024: $2,310,000 (68 sales so far)
After last month’s eye-popping 200 sales, there was some hope that this month would be equally productive. But it looks like we’ll be fortunate to match last May’s count.
