[quote=sdrealtor]New listings 19 (23) – highest count all year but still havent hit 20 yet. This time last year we had hit 30.
New Pendings of 25 (36) –
Thats -6
Closed sales at 18 –
Total houses for sale 29 (49) with median of $2.3M ($1.709M). Cheapest SFR is $1.285M and its actually a detached condo not a true SFR. Inventory still off about 40% as my hovel inches every closer
Every once in a while I see something that makes me stand up and take notice. This week a friend listed a beautiful property in Leucadia for $7M and it sold the first day. That means someone was waiting out there with $7M or more burning a hole in their pocket looking to buy their dream home. We never had buyers like that before. The world continues changing here faster and faster![/quote]
A little update on this last one. Apparently there was not a buyer waiting out there with $7M or more burning a hole in their pocket looking to buy their dream home. There were several! There was a bidding war and its in escrow way over asking price and listing agent is still getting calls about it.
Of note all the buyers/potential buyers were local to SD and winner is from Encinitas. Among the bidders were a LJ local that is downsizing from a much more expensive home they recently sold and a retired pro athlete. The laters agent shared that they have a whole bunch of retired/soon to be retired athletes looking to retire here also. This of course makes perfect sense as we have a beautiful place with great climate, great schools and they can can live in relative anonymity here with their families relative to staying where they played their careers. Most of these guys retire with $5 to 50M after relatively short careers. They will never make close to that money again and need to make it last nicely for the rest of their lives. This place is a great landing spot.
Im not saying there will be enough of guys/gals like this to carry the whole market but it is one more example of a growing category of resident that exists few places and will continue to support what is happening here.
