I am focued primarily on the coastal communities in my house hunt. I check Zip Realty about once a week or so in my markets. The percentage of properties on the market longer than 100 days is getting much higher. As would be expected I have also seem the inventory rise considerably. Most homes are in the $650-$1mil asking range. Cracks are beginning to show and prices are beginning to lower. Might take a little bit, but it’s coming.
These are some of the areas that I monitor as well. A few indicators that I watch are # of sfrs under 400K in 92104 and # under 500K in 92103. Both of which have skyrocketed in the past 3 months.
Also, the condos in 92103 inventory is thru the roof. There is probably 70 or so new units just sitting empty and another 187 coming by september over at Atlas. The condo situation is beginning to resemble downtown’s. Looks to be 15+ months supply and rising if they actually listed everything availble.
These are some of the areas that I monitor as well. A few indicators that I watch are # of sfrs under 400K in 92104 and # under 500K in 92103. Both of which have skyrocketed in the past 3 months.
Also, the condos in 92103 inventory is thru the roof. There is probably 70 or so new units just sitting empty and another 187 coming by september over at Atlas. The condo situation is beginning to resemble downtown’s. Looks to be 15+ months supply and rising if they actually listed everything availble.
Atlas is a D.R. Horton property, they are going to slash prices if it doesn’t sell at the pace they wan’t it to, look for that to have a big impact, they have slashed prices in other counties as much as 20% in a week during the past few months.
Atlas is a D.R. Horton property, they are going to slash prices if it doesn’t sell at the pace they wan’t it to, look for that to have a big impact, they have slashed prices in other counties as much as 20% in a week during the past few months.
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