Checked Carmel Valley and the stats dont look any better if i only go up to $1M. The market is actually stronger between 1 and 1.25M. Pendings look much better than sales so either it s getting stronger or there are a higher percentage of fall outs.
Solana Beach and Cardiff are thinly traded markets. Hard to take away much.
Encinitas has well under 2 months supply when you consider contingents and pendings (86 vs 56). Market is chugging along with actives at 3 times monthly sales.
South Carlsbad has about 2 months supply when you consider continegnets and pendings. Closer to 4 months when you consider actives vs monthlys sales.
If you look at just the portion of South Carlsbad in the San Dieguito school district most of the continegent short sales disappear.
All in all, the market looks a bit weaker than it did in early Spring but still pretty strong and stabilized.
Overall there should be some opportunities over the next few months but once we get back to Febuary the market should Spring back to life. I forsee a pretty stagnant/stable market over the next 6 months with little or no price depreciation.
