Inventory tends to be seasonal in nature, so we've probably seen the peak for 2022. We've probably seen the peak number of pendings for this year too! Today, there are only 151 homes in escrow, and in July we had 152 sales. It's feasible that we will have fewer than...
Even if there was a concerted effort to inform the public that mortgage rates are in the 4s (with jumbos in the mid-4s!), it is probably too late in the season to revive much enthusiasm with home buyers. But there are still people in the hunt. Last week's count of new...
Here's a look at the difference between the average price per square foot of the active and pending listings. Of those priced under $3,000,000, it shows how the more-expensive superior properties are the ones going into escrow - and the inferior properties aren't,...
Today's hopeful home sellers aren't going to take much more of this. If they don't find a buyer in the next couple of weeks, they will assume that the market conditions aren't conducive to selling.....at least not for their price. They will pack it up and try again...
The Big Standoff continued this week. Sellers are confident about their pricing, and refuse to budge much - and buyers are being very patient. There were 55 new NSDCC listings in the last week, and NONE of them have been marked pending yet! Pricing in the higher-end...
This should be about it. If there hasn't been a surge of inventory by now, it's not coming - at least not this year. There might be some nice action over the next couple of weeks as buyers try to land a deal before school starts, but there won't be big discounts -...
It's exciting now! There is one thing we know for sure: Generally speaking, home sellers are not adjusting their expectations about price. The standoff will last another few weeks, and then the unsuccessful sellers will pack it in for the year. Don't be surprised if...
Hat tip to long-time reader Todd who we saw at the game last night - we did bug out early, but it was only to pick up Kayla at the airport. The Padres walked it off in the 11th inning! Meanwhile, people are wondering where the local real estate market is going to end...
Buyers thought this was a holiday weekend, and sellers didn't! It was the week that the actives-to-pendings ratio between La Jolla and Carlsbad crossed back over the ideal 2:1 range, which is what we have observed to be the sign of a healthy market in the past. Last...
The number of active listings keeps climbing, which is expected. The likelihood of getting the list price wrong has probably never been higher, given that sellers have been planning their move for months - and they are going to test it out to see if they can get...
