Here's the preliminary data of detached-home sales for August between La Jolla and Carlsbad. By the time we're done, the count should be 270 or so: Year # of Sales Avg SF Avg. $$/sf Median SP Avg DOM 2012 298 3,255sf $381/sf $865,000 77 2013 324 2,782sf $437/sf...
We've had quite a surge this year!
Our head cheerleader keeps saying that the lower inventory is the main reason why there have been fewer home sales nationwide: Lawrence Yun, chief economist at the National Association of Realtors, says “Closings were down in most of the country last month because...
Last month's sales count looks like it is going to be less than previous Julys - the graph above has an extra 10% added to today's count for late-reporters and it still comes in under the last four Julys. Year July # of Sales Avg. $$/sf Median Sales Price 2013 297...
An excerpt from this article: http://www.latimes.com/business/la-fi-home-prices-20170725-story.html Home prices have now been rising for more than five years, the result of a growing economy, rock-bottom mortgage rates and a shortage of homes on the market....
In the last post we saw that the median sales price for San Diego is up 11.2% year-over-year. Let's check the individual areas between Carlsbad and La Jolla, using the combined May/June Y-O-Y data for larger sample sizes: Area # of Sales Median Sales Price Chg Avg...
As the national drought in home supply dragged into its 21st straight month, competition among buyers drove prices up once again. And the fiercest competition was in the Bay Area. A new report from Redfin shows that 73.7 percent of homes sold above the listing price...
Sales have been remarkably steady for the first half of the last three years, with only a slight variance in the sales count: Year # of 1H Sales Median SP Avg DOM Median DOM 2012 1,477 $815,000 86 51 2013 1,670 $919,250 51 21 2014 1,430 $1,020,000 49 24 2015 1,555...
Note that last time the rise in prices was quicker (steeper curve), and it only took about a year - 2006 - to reverse course. This time, the increase looks more reasonable (more-gradual slope), but it still has to look daunting to buyers.
The C.A.R. is using a new metric - market velocity, which is what we've used here frequently to compare monthly solds to new listings: Market Velocity – home sales relative to the number of new listings coming on line each month to replenish that sold inventory –...
