Mira Mesa Monitor

[sdrealtor]

Again the model of consistency

New listings 9 –

New Pendings of 9 –

Closed sales at 9.

Price reductions at 1.

Current inventory at 17 with median price of $850K

Flippers are jumping on anything they can get in the mid 700’s knowing they should be able to sell for 900+ come January with a quick remodel

This market looks like it will just keep rolling along at its present pace. I think prices will be around $50K higher by February and who knows where they go from there

[jmw]

Can you easily search ibuyer activity? Sales with no listing

[sdrealtor]

[quote=jmw]Can you easily search ibuyer activity? Sales with no listing[/quote]

What I can do is search a specific company in the tax records and tell you how many homes they own. Any you are interested in?

[jmw]

Redfin. Cuz they’re in the middle of a flip down the street

[sdrealtor]

Sorry for delay, I missed deadline for sending my 1/4ly dues and mls got cut off. Paid it and should have it back shortly. I’ll take care of it then

[sdrealtor]

[quote=jmw]Redfin. Cuz they’re in the middle of a flip down the street[/quote]

So I ran numbers for Redfin and they only have about 26 in SD County. The big players are Opendoor which has about 130 and Zillow which has 242. Generally speaking these are mostly in lower and middle class areas or attached/condos. its hard to know exactly what zillow pays but they seem to be losing money on most of what they buy and sell and are tring to figuree out the business model rather than turn a profit

[sdrealtor]

New listings 10 –

New Pendings of 14 –

Closed sales at 6.

Price reductions at 0.

Current inventory at 16 with median price of $887K

Of the 16 houses on the market over half have offers and arte negotiating. If they moved faster pendings would be over 20. This is a very solid market

[sdrealtor]

New listings 4 –

New Pendings of 10 –

Closed sales at 7.

Price reductions at 0.

Current inventory at 12 with median price of $912K.

Most of what is active is in multple offers or tenant occupied which is slowing down the sale – Leased through June 2022, uncooperative tenant wont allow access, shown with accepted offer only…good luck with those. There is virtually nothing for sale here and the 912K median is skewed by a couple overpriced properties languishing on the market but come Spring that could be the new normal.

[sdrealtor]

sorry got sidetracked posting but ran numbers on tuesday. I wonder if we will revert back to our typical seasonal pattern as I expect or if things will rage through year end like last year.

New listings 9 –

New Pendings of 9 –

Closed sales at 13.

Price reductions at 0.

Current inventory at 12 with median price of $929K.

For now new inventory has kept coming but should slow the next couple months if seasonality reigns. Generally speaking Im seeing nicer homes hit the market over time and flippers are active here which bodes well for continued appreciation

[sdrealtor]

Update time and MM just keep schugging along. Homes below 800K are rare and sales below seem to involve some shenanigans.

New listings 8 –

New Pendings of 8 –

Closed sales at 8.

Price reductions at 0.

Current inventory at 17 with median price of $900K.

Inventory built a little but nothing that looks significant. Looks like buyer traffic dropping seasonally a bit while listing volume has stayed steady

[sdrealtor]

Update time and MM continues to be the model of consistently.

New listings 9 –

New Pendings of 9 –

Closed sales at 10.

Price reductions at 0.

Current inventory at 18 with median price of $857K.

Drop in median is just change in the mix and small sample size. No big deal. QCOM just had a big month and cant imagine soem of that wont get spread around here. This Spring I expect nicely remodelled homes will go 900K+ and some have already

[sdrealtor]

More of the same

New listings 8 –

New Pendings of 11 –

Closed sales at 13.

Price reductions at 0.

Current inventory at 14 with median price of $950K.

Median not only came back it soared to all time high for 3 reasons. The under $800K market is pretty much gone. The new listings skewed toward the high end bigger/newer homes. There are a handful of way overpriced homes sitting on the market

[an]

It’ll be interesting to see if we’ll break the $1m mark for the median price by the spring.

[sdrealtor]

wouldnt surprise me to see median list price hit $1M but I think median sales price of $1M is a bit away

[jmw]

Does Mira Mesa cease to be a first time homebuyer community at $1m?

[Author]

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