Another good way to anticipate the market trends is to check the direction of the SP:LP ratio: NSDCC Monthly Sales and SP:LP Ratio Month # of Sales Median LP Median SP SP:LP Jan 2022 149 $2,099,999 $2,200,000 105% Feb 169 $2,099,999 $2,300,000 110% Mar 219 $2,384,000...
There were 23 buyers who paid over the list price last month. There were 29 in the previous month, but because there were 20 fewer sales in December, the percentage looks much larger. Cash buyers purchased 41 of the 107 sales, or 38%. Fifteen of the sales were...
On Monday morning, these were the counts of active and pending listings between La Jolla and Carlsbad: Actives: 312 Pendings: 149 This morning, the counts are: Actives: 286 (-26) Pendings: 164 (+15) These are pre-Super Bowl numbers and it's been pouring rain for a...
While it would appear that there was a big jump in new listings last month, the January count wasn't unusual - it's just inching its way back to a more-normal pace: January New Listings - Totals of Three Areas Above 2019: 234 2020: 186 2021: 157 2022: 113 2023: 101...
January Detached-Home Sales & Pricing, La Jolla to Carlsbad It was in June, 2022 that Fed Chair Jerome Powell told reporters that spiked mortgage rates would “reset” the “overheated” pandemic housing market. Last month had the highest pricing metrics AND the...
After a disappointing number of sales last month (87, the lowest monthly count ever), January is poised to reach 100+ sales. There are 128 houses in escrow today, and 39 of those were marked 'pending' prior to January 1st so probably 20+ of those stand a good chance...
There have only been 83 NSDCC sales recorded in December, 2023, which means we may not make it to 100 closings. January isn't looking too good either, and from what I can find, we've never had less than 100 monthly sales, let alone in back-to-back months. But it's...
The NSDCC inventory is starting off the new year with virtually identical numbers as it did in 2023! The big difference? Last year everyone thought we had a recession coming, and this year it's all blue sky ahead. At the beginning of 2023, the 30-year mortgage rate...
I'm guessing that our local NSDCC inventory has to be at least 10% higher in 2024 than it was this year. Heck, it would need to grow +20% just to get back to the same number of houses for sale in 2022! Bill agrees that we should see more listings in 2024: Somewhat...
If there was going to be a time when the local market might soften up a bit, it would be around November/December, wouldn't it? If the majority of the recent sales closed at 10% discounts or more, then it would be nervous time, but most buyers are still paying fairly...
