Mira Mesa Monitor

[nostradamus]

Please also include:

The number of homes on the market for 30+ days (27)

The number of price reductions in the past 30 days (9)

[sdrealtor]

Stick to your day job. That link includes 10 unbuilt new construction for various models in 3 Roots that are not attached to a single property and have been in those listings for months

[nostradamus]

All that kool-aid has made you defensive. My comment should help you understand what info people actually want to see, but please continue posting that sweet, sweet sunshine with no links to support it.

[an]

[quote=nostradamus]Please also include:

The number of homes on the market for 30+ days (27)

The number of price reductions in the past 30 days (9)[/quote]
3Roots houses don’t count. So, houses with 30+ days on the market are 17. 5 of those 17 are over 100 days and 4 of those 5 have no price reduction. It doesn’t seem like people are rushing to sell. It’ll be interesting to see what the numbers will look like next month when a lot of people pull their house off the market due to the holidays.

What’s more impressive is, even when rates have gone up from 3% to 7%, the median is still up 5% YoY.

[sdrealtor]

[quote=nostradamus]All that kool-aid has made you defensive. My comment should help you understand what info people actually want to see, but please continue posting that sweet, sweet sunshine with no links to support it.[/quote]

Uhh i post actual data every week. Your link included advertisements for a new builder for unbuilt homes. There’s one listing for each floorplan. There’s no sunshine in my post just reality. Sorry if it’s not as bad as you hoped it would be

My data shows exactly what is happening and I’ve pointed out what is happening with prices (they are down about 15% of Spring peak numbers in most of SD). New pendings are way down but new listings are down almost as much. That indicates we will continue to see declines but they will be muted by limited inventory giving time and inflation the ability to do their thing.

[sdrealtor]

New listings 7 (9)

New Pendings of 7 (9)

Closed sales at 2 (10)

Inventory at 31 (18) with median of 957 (857)

Another slight uptick in inventory. When I look at the compostion of the inventory, pricing seems to be part of the issue here. The market is steadier up to high 800’s and most recent closings have been in low to mid 800’s for the regular homes but most listings are still in 900’s. Pricing is where it is and sellers need to catch up with where market is. Should be one more week of flattish inventory and in two weeks seasonal decline should begin.

[sdrealtor]

New listings 1 (8)

New Pendings of 7 (11)

Closed sales at 3 (13)

Inventory at 24 (14) with median of 999 (950)

Big drop in inventory due to a slightly surprising bump in new pendings. I dont expect much in the way of new inventory the rest of the year. With continued sales trickling in and some folks taking the holidays off we could get back to single digits by y/e.

Oh and this is why as a buyer you stay active this time of year. Someone snagged this for what looks like a good deal that will stand the test of time.

https://www.redfin.com/CA/San-Diego/11025-Bootes-St-92126/home/4796460

Same model around corner similar lot/location with what Id call maybe a $100K remodel not a $275K one

https://www.redfin.com/CA/San-Diego/8911-Centaurus-Way-92126/home/4799231

[sdrealtor]

New listings 3 (4)

New Pendings of 2 (14)

Closed sales at 6(6)

Inventory at 23 (7) with median of 984 (969)

Starting into the holiday lull. Most interesting to me is that median list price this year vs last year is inching toward last years figure. Last year we had bidding wars over asking and this year we have some negotiating taking place. The year over year gains are pretty much gone here now

[sdrealtor]

Sorry was out golfing in the desert for a few dys. Time to catch up

New listings 1 (1)

New Pendings of 1 (6)

Closed sales at 7(13)

Inventory at 22 (4) with median of 999 (981)

Well into the holiday lull with not much coming on or selling.

One thing I noticed a couple weeks ago but didnt feel I had enough evidence to write about is fewer sellers seemed to be taking homes off for the holidays. I think I can call that a trend now and a slightly ominous one at that. I can think of two reasons for this. First with prices in decline and less selling, homesellers are less optimistic about waiting for Spring. Second with sales volume down there are hungry agents advising clients to keep trying. I think a little of both at play here

[an]

Interesting analysis about sellers not taking homes off the market. Yet median yoy is still positive. Wonder if we’ll finally see negative yoy in the spring.

[sdrealtor]

New listings 2 (1)

New Pendings of 5 (4)

Closed sales at 6(10)

Inventory at 18 (2) with median of 999 (981)

Last year virtually nothing on the market this time of year. This year a decent but declining supply. In the last 4 weeks, twice as much as has gone pending (15) as has come on the market(7). Slowly eating away at the inventory.

[sdrealtor]

New listings 1 (4)

New Pendings of 2 (3)

Closed sales at 7(10)

Inventory at 17 (5) with median of 999 (959)

Slowly rolling into the New Year. Slow on both sides as expected

[sdrealtor]

New listings 1 (4)

New Pendings of 2 (5)

Closed sales at 2 (12)

Inventory at 15 (3) with median of 1M (935)

Nothing much going on here. Slow all over

[sdrealtor]

Final update of the year!

New listings 1 (1)

New Pendings of 5 (2)

Closed sales at 2 (3)

Inventory at 9 (3) with median of 1M (data not recorded last year)

Overall the market here looks pretty stable. In the last month 14 went into escrow and we finish up with 9 on the market. Comparing this to the NCC market I think its closer to finding its bottom and comfortable level. I beleive most sales will remain at 800k+. There should be some in 700’s but Im not seeing the 600’s coming back. I guess time will tell.

Happy New Year all!

[sdrealtor]

Welcome back! So now the question is what is gonna happen to inventory? Will there be a race to the exits? Will buyers keep buying?

New listings 0 (1)

New Pendings of 1 (1)

Closed sales at 1 (2)

Inventory at 13 (2) with median of 1.03M (data not recorded last year)

Dead as a door nail. The increase in inventory is due to folks coming back after a holiday break. No one jumping the gun to head for the exit door yet. Little coming on the market. Next week likely similar and then the season begins.

[Author]

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