PS,
The answer to your first question is not enough. Anecdotally, most of what I am hearing is the high end buyers are coming from out of the area. I don’t haven’t had any listings in that range lately so its hard to say for sure. I do have a couple buyers in that range and they are coming from out of the area. Most are wealthy or work from home and could live anywhere.
As for my friend, he would love to live here if he could find the right job here. He will probably retire out here. My comment wasnt intended to say he was considering a move here. I was just shocked to hear anybody but Bay Area residents think our prices are cheap.
When I said the high end is stronger I meant it is relatively stronger. NO PRICE RANGES ARE STRONG RIGHT NOW!
How many $1.2m homes are on the market?….well, if one were to judge by the sunday U-T RE section with the pictures, there are quite a few. It simply amazes me the number of $1m+ homes in ALL areas in SD right now listed for sale. And, until you get up to near $2m, most are really no big deal. Just 3000+sf, in a good area, and they are priced in the seven figures. A lot of them sure seem to just be sitting though.
