Everyone is worried about rising rates, and their impact on the future of the market. The combination of higher rates AND higher prices is dramatic when compared to just a year ago. Here is a comparison between the NSDCC closed sales between Feb. 1st and March 29th:...
Donna asked what sellers might think about his video. I hope they think that old Jim the Realtor is tracking the market closer than anyone and would be the ideal listing agent because of how he is able to utilize this research to take advantage of the market at hand:
The NSDCC detached-home stats in the Jan 1st-to-March 15th period are remarkable: Year New Listings # of Sales Median List Price Median Sales Price Median DOM 2016 1,194 436 $1,146,450 $1,102,792 58 2017 1,040 459 $1,239,500 $1,200,000 53 2018 1,102 420 $1,327,000...
Real estate practices have been evolving with the frenzy. The market used to be lively seven days a week, but that's gone away. Looking at homes during the week is futile now, because the new listings tend to hit the MLS on Thursday or Friday with NO SHOWINGS UNTIL...
Numerically, the inventory isn't getting any better yet: NSDCC New Listings between March 1-15: 2018: 228 2019: 277 2020: 221 2021: 199 2022: 120 There will be a few more added to this year's total but the homedemic continues - without additional inventory, the market...
Currently, the entry level for Carlsbad houses is around $1,200,000, so when this one first hit the market at $1,119,000 you can bet it stirred up the frenzy! They raised the list price to $1,199,000, but it didn't slow anyone down. The agent received 28 offers, and...
Rates matter. We gave credit to the ultra-low rates when they were in the 2%-range for helping to create the frenzy. Likewise, higher rates will have something to do with the way the market turns out in 2022. It's not because the payment are so much different. When...
Rising rates may discourage the regular home buyers, but they aren't the market-makers. All that matters is how many of the desperate-buyers-full-of-cash are left, and with the new listings trickling in, we only need a few! It's Thursday and thus time once again for...
Sure all the California-feeder towns have risen 40% to 50%, but look at those price points! You don't see any other city on this list with home prices as high as ours. Of all the areas in the country, San Diego has to be one of the best places to live - and the...
You may remember the story of my buyers purchasing a home in Bressi Ranch about a year ago. Since then, there have been two more sales on the same street: March 10, 2021: $1,900,000 April 30, 2021: $2,450,000 March 2, 2022: $3,000,000 This is not normal!...
