Update time and Im in a very good mood! Saw a realtor friend touring a nearby property very close to me with the homeowner and Id love to have a new, different neighbor there:)
New listings 23 – big drop in new listings
New Pendings of 36 – no slowing in sight!
Thats a -13 for the week.
Closed sales at 16 – suffering from lack of inventory
Price reductions at 6 (pretty much all high dollar stuff that was hard to price)
Total houses for sale 49 with median of $1.709M. A lot of higher price stuff sold last week which pulled the median down.
(Footnote:last week I originally reported 42 last week and that was a typo I fixed as it was 52)
Lack of inventory continues to be a big problem here and everywhere. Anecdotally im seeing signs that more is on the way near me between coming soon listings and my grapevine. Owners are taking note of these prices and it should continue shaking more loose. Nothing would make me happier than seeing one in particular change hands.
In another sign of how much things have changed up here, in the last week 2 homes sold for $3M and 2 more for $4M! Even more astounding 3 homes hit the market in Encinitas this week with asking prices of $6.9M, $7.9M and $8M. There’s another at $6M about to hit the market.
