We are right back into frenzy mode with more than a quarter of last month's sales closing over their list price. Was it required to win the home? Or has paying over the list price become more of a badge of honor for today's buyers? To complicate it further, look at...
I'm not going to get crazy-optimistic just because the over-list percentage more than doubled MoM, or because last month's median sales price was 11% higher than it was a couple of months ago. I'm just happy that the number of sales appears to have bottomed out. Let's...
Paying over the list price wasn't a new thing created by the frenzy - there have always been over-list sales in the past. But getting down to 8% last month begged for a comparison to a previous January! In January, 2019 there were 151 NSDCC sales, and 18 of them (12%)...
The number of December sales has been hanging right at 100 and ten closed above list, or 10%! Percentage Of Sales Closed Above the List Price, by Price Range If the over-list sales start to increase this spring and get above 20%, then the frenzy feelings are slipping...
Only 12% of the houses sold last month actually closed over their list price, which sounds normal. There were 51 of the 115 of the sales (44%) that closed for $100,000+ BELOW their last list price. The count of 51 broke down to 17 of 19 sales over $3,000,000, and 34...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ NSDCC Average and Median Prices by Month Month # of Sales Avg. LP Avg. SP Median LP Median SP Feb 224 $2,298,797 $2,257,334 $1,719,500 $1,758,000 March 252...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ NSDCC Average and Median Prices by Month Month # of Sales Avg. LP Avg. SP Median LP Median SP Feb 224 $2,298,797 $2,257,334 $1,719,500 $1,758,000 March 252 $2,295,629 $2,260,524 $1,800,000 $1,825,000 April 357 $2,396,667...
The over-bidding is winding down to more manageable levels as just 24% of August buyers were willing to pay over the list price. As usual, the $1,000,000 to $2,000,000 range was the most active, where inventory is low and the number of quality homes for sale even...
Want proof that Jay Powell has tamed the housing frenzy, and reversed the trend of buyers having to pay well over the list price to win a house? Here are examples of the list and sold prices of August home sales between La Jolla and Carlsbad - note the relationship to...
The graph above shows how the 2021 off-season wasn't off by much, with nearly half of the Nov-Jan sales closing over their list price. We probably won't see that happen this year! On the street, it feels like the off-season is already here, which is fine. The...
