Earlier this year, I speculated that the market could endure - and probably snap up - additional inventory, as compared to last year. The 2023 inventory was like the Mohave Desert! It seemed that 10% to 15% more would be easily digested, and maybe even +20% or +25%....
It looks like the home-selling season is losing any momentum it had in March-May when the pendings that closed escrow were being steadily replaced. You can see that we had a mid-summer spurt of pendings last year, but with the political circus ramping up and...
The premature end to the selling season was postponed this week. There have been 137 NSDCC closings this month too, which means we should match, and maybe even pass, the 178 sales we had last May. The $0 – $1,500,000 Market: Date NSDCC Active Listings Avg. LP/sf Avg....
The NSDCC inventory has gotten off to a hot start in 2024 - it's already at the level it was at in July of last year! As long as the pending keep up....oh wait. Well, maybe there will be a surge of new pendings on the way? There was a late-summer surge last year, and...
With the pendings count being flat for the last eight weeks, it means there have been as many new escrows as closings. It's when the pendings count starts to fade that we will know the sales machine is breaking down, and there might be trouble ahead. There has been a...
In the last seven days of April, there were 75 closings between La Jolla and Carlsbad - and there are 183 more that are still pending! Given the higher mortgage rates, this has to be peak performance, doesn't it? The $0 – $1,500,000 Market: Date NSDCC Active Listings...
In the last week, there were 67 new listings between La Jolla and Carlsbad - the highest weekly count in 2024 and only the second time over sixty this year. But the appearance in the graph above was muted because there were 36 new pendings, and 42 closings - which is...
The graph above should give us all some guidance on where the 2024 market is going. Sales are hanging tough though. There have been 117 NSDCC closings this month, so we should get close to the 165 sales we had last April. The median sales price is running +5% above...
It looks like we've found the number. Because the inventory was so low last year, I thought the market could easily handle a 10% to 20% increase in active listings this year. But now the number of actives is +30% YoY, and the pendings aren't increasing in a similar...
The number of active listings is a reflection of how many new listings are coming on the market vs. how many are going off the market at the same time. While today's number of actives is 29% higher than it was last year at this time, let's note that the 2023 inventory...
