Time for the market to start waking up. Lets see what the numbers say.
New listings 18 – waking up a little but gonna need lots more! These numbers need to quickly get into the 40+ range to come anywhere close to meeting demand
New Pendings of 15 – buyers never stopped looking
Thats a +3 for the week.
Closed sales at 23
Price reductions at 1.
Total houses for sale down to 52 with median of $2.4M
Looks like last week was the bottom barring a complete market boom. There is no more low end here anymore for single family houses. Under $1M barely exists beyond a fixer or something encumbered in some way.
Im reminded of a conversation I had many years ago, Pre-Piggington for me. It was circa 2005 with another top agent in my hood. I saw the storm coming and was trying to warn other agents with limited success. I told her to prepare for major downturn in the next 5 years but that long term all the pieces were in place for South Carlsbad to become our version of Newport Beach. I said hold onto what you can for future generations of your family for the long term as eventualy prices would explode here. Those days arrived and while its hard to say how much higher we go how quickly we are headed for even higher levels IMO.
