The Case-Shiller Index has risen more this year in San Diego than in any other metro area! Could we end up being the most expensive metro in the country some day? It could happen, and it would be a return to the top spot, according to Channel 8 - check the first 30...
We are right up there with the most expensive cities in America! Love their note at the bottom: https://fox5sandiego.com/news/local-news/san-diego/san-diego-among-cities-where-majority-of-homes-cost-over-1m-study/
The local home pricing is still off the highs of early-2022, but not by much. The smaller sample sizes (fewer sales) will make it harder to accurately identify the trends and cause more frustration/indecision for both buyers and sellers. Have we recovered, or just...
Anyone who thought the long slide last year was just the beginning has to be sorely disappointed now. This is the greatest comeback of all-time!
Here is the early count on April sales between La Jolla and Carlsbad, with YoY and MoM comparisons: There will be some late-reporters but April sales won't get up to the 184 sales we had in March - which will probably end up being the best month of 2023 (remember that...
Price-wise, we are back to where we were at the end of 2021, so the data above should still be in the ballpark. Glad to see that San Diego isn't considered as wildly overvalued - it's expensive here and people can afford it, apparently. I like that the J.P. Morgan...
Bill charts the seasonal flow of the national median home price below: His full article: https://www.calculatedriskblog.com/2023/04/the-normal-seasonal-pattern-for-median.html San Diego County doesn't have the drastic weather changes which impact sales in other parts...
Where do home prices go from here? Hopefully, it will be more predictable than it has been lately! The Fed's insistence on raising rates just to see if they can tank the economy should keep a ceiling in place. The buyer pool is already limited to only those who can...
Mark is one of the best appraisers in the county: The median sales price for a detached home in the county continues on a seasonal climb. According to our MLS (depicted on the chart below) the median detached home price in March was $934,500. While the median price is...
When it comes to anticipating the direction of the real estate market, the median pricing isn't nearly as informative as these indicators - Number of Sales and SP:LP. We are used to seeing the sales increase early in the year, but it could have been different if...
