Definitely into uncharted waters (with regard to demand) for SFH for owner occupancy in desired school districts such as PUSD and TP. Also including Encinitas and Carlsbad. For the in between homes (maybe 500-800k) I am seeing pretty radical paradigm shifts. Homes that come on the market and are listed according to comps are getting swamped with multiple offers most of them overbid. Other sellers are simply listing several percent above comps. I can honestly say this is insanity. You can cross check this with JTR’s blog as he has similar data. For buyers I recommend you sit out for awhile or if you are going to go in, go in very strong and go in early. Forget about trying to get a deal, forget about trying to negotiate with counter offers because if your offer is not strong, you probably will not get a counter at all.
At some point prices will level off but right now the restricted supply has drastically altered market dynamics in these areas, (and probably many others)
