New Pendings of 39 – plenty of demand. demand rising
Thats a -23 for the week.
Closed sales at 25 –
Price reductions at 2
Total houses for sale 49 with median of $2.1M.
Nearby house is in escrow $200K above asking. There were a bunch of offers and one significantly higher that didnt stick beyond the first couple days. Will be a neighborhood record which is a bit of a shock as the house is average at best for neighborhood but yard is great which speaks to the value of land on the coast. Was out of town last weekend and missed those showings but met buyers when they did inspection. Another young family coming from Bay Area. One has new local job and other will WFH. Pleasant surprise is getting a little more diversity which I appreciate. Closed price will represent well over 30% y-o-y.
Around here May is usually peak demand with relo buyers rolling into town. I dont know if that will be the case this year but there is nothing on the table for them right now with little relief in sight.
