It looks like our local price increases are starting to moderate, at least according to the Case-Shiller Index. It doesn't look like 2018 will be another +7% or +8% year. But if sellers can live with selling for about the same price as the last guy, then we should be...
Sales and Price Check
NSDCC February Sales
Note the train tracks to the left - just 45 trains per day! John Hood and his wife Sally have bought a $21.5 million mansion on an oceanside bluff in Del Mar in the county’s most expensive real estate transaction since 2007. You may recall Hood’s name from headlines...
Zillow Price Prediction
Five years ago, Zillow predicted that the ZHVI would increase 22% by 4Q17. At the time, it seemed a bit optimistic. Since then, the national index rose 32%, and the San Diego index rose 45%! Currently, thirteen of the 20 cities followed in SD County are at all-time...
Inventory Watch
New pendings are increasing each week but the sum is still behind previous years - here are the totals of the first nine weekly readings for each year: Year Number of New Pendings 2015 468 2016 436 2017 448 2018 398 With three days to go in February plus...
Annual Sales and Pricing
Let’s look closer at the individual neighborhoods, and compare annual sales and pricing between 2016 and 2017: Town Zip Code 2016 Sales Avg $$/sf Med SP 2017 Sales Avg $$/sf Med SP Cardiff 92007 82 $711 $1,407,500 76 $711 $1,300,000 NW C-bad 92008 220 $465 $897,400...
Rising Mortgage Rates
Mortgage rates have risen almost one-half percent this year, and are around 4.50% with no points today (conforming and jumbo). Because rates haven't moved much in recent years, the half-point increase sounds dramatic, and could cause a few people to reach for the...
San Diego Tiered Pricing
Yesterday's local Case-Shiller Index looked like it started to flatten out, and may have even reached a new peak. But it did the same thing last year, with the index taking a breather in the second half of 2016 before mounting another incredible surge in early 2017. ...
Medians
If buyers are looking for good news today.....the last three Januarys had the lowest pricing of the year. If you can just find something to buy! Statewide graph above, Southern California below.
63% Chance of Getting A Discount in SD
But not much of a deal - maybe 2% or 3% under list price on average. Stats for detached-homes sold in San Diego...
NSDCC December Sales
Hard to get too concerned about a 10% drop in sales YoY, when inventory was down more than that, and the rest of the stats held up nicely: NSDCC December Sales Year Number of Sales Avg. Cost Per SF Median SP Avg Days on Market 2013 211 $485/sf $1,075,000 60 2014 250...