I agree with Rich about pricing, and we are too deep into the year for it to change much now. There will be occasional deals, but for the most part, sellers will just wait until spring rather than give it away.
Rich has done a fantastic summary on the San Diego real estate bubble – read more here:
Rich’s latest graphs are out, and this inventory history above shows how relatively few homes are for sale locally.
The median detached-home list price for the county today is $849,000!
He did mention a reader’s theory that in the era of online search portals, the inventory has become more efficient. Better-educated buyers are making faster decisions these days, which keeps the inventory counts down. But the hot buys have always sold quickly, and the over-abundance of data could be dumbing down the decision-making.
Do buyers just grab a house now?
More of Rich’s graphs here:
Rich’s latest data is up at www.piggington.com.
He mentioned the slightly-negative turn in pricing last month, but I like these two graphs above. The pricing trend is going to bounce around – as long as we have sales counts close to previous years, we’ll be fine.
Rich’s latest assortment of data and graphs are out:
Here’s one graph that demonstrates the timing of the selling season:
For sales to spike in March, it means buyers have been jumping to get into escrow right after the Super Bowl – and in some cases, prior to!
But also look at how sales drop off earlier in summer.
In 2018, sales from May to June were flat, when they usually rise.
Closed sales in July – which are a result of buyer decisions made in May and June – typically decline from June’s sales counts, but then last year they really fell apart for the rest of the year. And this graph is for the whole county, whose median sales price is less than half of what it is between La Jolla and Carlsbad.
If you are selling, do not think you’ll stand a better chance, later.
My guess for 2019?
February through April will be the season.
Rich’s latest report – we need to get used to
bloated higher inventory counts:
Read the full article here – with 13 more graphs!Link to Article
Rich’s latest report is out!
The worrisome spike last month did flatten out, but it does make you wonder if we should adjust our sights.
I agree with Rich that the months of active inventory will probably be rising from now on. But if the coastal market had 3 or 4 months of active inventory, it wouldn’t be a bad thing. Rancho Santa Fe is 7+ and doing fine.
Click here for the full report:
This is just a snip of Rich’s latest post – read the full article here:Link to Full Article
Rich’s latest data is out, and the graph above shows the aggregate pricing for San Diego has increased over 100% since 2009 – click below for the rest of his analysis on inventory, sales, and pendings: