I’ve noticed an definite uptick in listings (probably seasonal) in the $800-900k range, in coastal cities such as Santa Barbara, Santa Monica, Laguna Beach, Rancho Palos Verdes, and even a few in La Jolla. Listing to sales seems to hover around the high 90%, and although there are still many price reductions, it may be too early to see changes from the tax credit expiration. It’ll be interesting to see what the summer sales are like. If they are poor, then you’d expect the fall will bring some worthwhile price adjustments, but not in all price ranges, nor in all areas.
