Update time along the NCC. TNumbers for week ended yesterday
New listings 23 – a little better and hopefully more to come as end of school year approaches. I know of a neighbor thats waiting for that but
New Pendings of 35 – plenty of demand and peak demand around the corner
Thats a -12 for the week.
Closed sales at 30 –
Price reductions at 1
Total houses for sale 48 with median of $1.97M.
Prices just keep going. Like the one above Im seeing homes in what were the least expensive neighborhoods in 92009 going in the 1.1M+ range. Pre COVID it was possible to get into my neighborhood under $1M, now its starts around 1.3. At this pace we will be Bay Area pricing in another year or two with a nice 4BR tract home $2M+. Not gonna say it will happen but not gonna say otherwise at this point
Current reports for SD say 21% y-o-y appreciation but that includes condos which have not kept up with detached. Market is up 30% for detached homes many places
