The slowdown started in July, so the November sales count is surely going to reflect the impact - and it does. Sales were down 11% year-over-year: Year # of Sales Median SP Avg. Cost-per-sf Avg. DOM Avg. SF S/BD* 2013 187 $1,030,000 $474/sf 58 2,960sf 10.4 2014 173...
If sellers were feeling a sense of panic about the market - and prices - we would be seeing more new listings hit the market. Let's boil it down to one simple comparison. Are there more listings than usual coming to market? NSDCC Listings, November Year November...
October sales in San Diego County were down 12% year-over-year, and the freefall should continue. While the experts will keep pointing to housing being not as affordable now that rates and prices are up (this article states that the median-priced San Diego home in...
Earlier we saw how a fresh new listing gets more traffic, and that buyer interest dies off quickly: https://www.bubbleinfo.com/2018/11/02/selling-your-home-in-2019/ Yet historically about 3/4s of the sellers insist on testing the market for weeks or months, just to...
Yesterday we heard the 'stunning' news that September sales dropped 13% year-over-year in Southern California. What about locally? There were 208 detached-home sales between La Jolla and Carlsbad this year, which was 20% below September, 2017. But once you factor in...
Our NSDCC sales in May and June were down 20% each, but then we bounced back in July and August to match the sales from 2017. But the sales last month were disappointing (down 20% again): NSDCC September Sales Year # of Sales Avg $$/sf Median SP Median DOM 2013 263...
For those looking for our jumping-the-shark moment, this might be it. Inventory is growing, and there is only one reason: More prices are wrong. But when you sell your best asset down the river and let amateurs run it who are out of touch with reality, you get...
The California Association of Realtors predicted that statewide sales in 2018 would increase 1%, and the California median sales price would rise 4.2%. My guess was for the San Diego County detached-home sales to drop 5%, and the median sales price to rise 5% in 2018....
Rob Dawg predicted it that any and all appreciation will happen in the first half of the year - and if we're just talking about the general trends in local San Diego pricing, that's how it has been lately. As the red circles show in the graph above, the...
Let's look at the price on my new one-story listing. After all, the 5,345sf house right up the street (that went pending the same day) was listed for the same. At first glance: $1,799,000/5,345 = $337/sf $1,798,000/3,729 = $482/sf (43% premium) But we know that...
