North County Coastal monitor

[sdrealtor]

Mid week check and we are at 43 houses with a median of 2.4! There are 3 coming soon listings that should come on the market in the next day or two. If nothing else does we could drop below 40 on the next report. Last year the mid April count was 51 and there’s a good chance we will be under that in 2 weeks.

The median has jumped almost 25% since the beginning of the year from 1.95 to 2.4M. Thats not necessarily an increase in prices though there has been some. It is more a measure of how tight the market is. Houses under $2M in decent shape priced at market levels are getting multiple offers above asking again

• This reply was modified 1 year, 7 months ago by sdrealtor.

[sdrealtor]

New listings 14 (18) – it hasnt been increasing, still below last year

New Pendings of 17 (15) – chugging along

Thats -3

Closed sales at 15 (16)

Total houses for sale 46 (34) with median of $2.425M ($2.174M). Two years ago there were 55 on the market with a median around $1.995M.

We keep getting about the same weekly data over and over.

Next week will will know how different things are. In the week ahead we got 29 listings last year! I dont see us getting anything close to that. Inventory went from 34 to 51 the coming week last year. There’s a very good chance we are below that next Tuesday

[sdrealtor]

New listings 12 (29) – a devastating drop this year over year though last years count was a bit of an outlier

New Pendings of 19 (19) – chugging along

Thats -7

Closed sales at 10 (24)

Total houses for sale 41 (51) with median of $2.545M ($2.35M). Two years ago there were 61 on the market with a median around $2.15M.

Not only did inventory drop below last years figure it is way below last year. Last Summer inventory peaked at more than  3X this level at 131. This year I don’t see us hitting 100

Not to beat a dead horse but these are not conditions that portend a crash

 

[sdrealtor]

New 19 – back where we should be

Pending 11 – this feels low and is cause for some concern and worth watching as it could be the start of a shift. Or not. I can feel a slight shift and it might be due to rates coming back up.

Thats +8

Closed 16

Total houses on the market 49 (44) with a median of 2.3M (2.625M). Two years ago there were 49 on the market with a median around $2.1M.

Inventory back above last year but that should be short lived. We are almost to the point where rates spiked last year and things changed. Inventory really started building in early May last year and that is around the corner. I think watching inventory is gonna tell us what is coming next

[evolusdv2]

Thanks for the continued north county updates, sdrealtor!

[sdrealtor]

New 10 (20) – and just like that, where did everyone go? Was last week an outlier or will be see the typical Spring bump in listings?

Pending 17 (21) – so much for a downshift. Most of them were over $2M and well over $2M

Thats -7

Closed 17 (25)

Total houses on the market 45 (42) with a median of 2.35M (2.53M). Two years ago there were 48 on the market with a median around $1.97M.

Inventory started climbing around now last year especially after mid May. It reached 132 early August and I don’t expect us to see 100 this year.

[sdrealtor]

New 23 (26) – Ok we got the Spring bump in listings this week.

Pending 13 (21) – not many but now we have some decent inventory for next week

Thats +10

Closed 18 (22)

Total houses on the market 59 (54) with a median of 2.2M (2.45M). Two years ago there were 57 on the market with a median around $1.86M.

We finally got a nice bump in listings and just in time for the annual influx of relo buyers to this area. While there arent a ton there are homes out there in the “bread and butter” range up here for them. The next two weeks will let us know if there are buyers out there. There should be

[barnaby33]

There should be what?

[Rich Toscano]

buyers out there

[sdrealtor]

New 16 (22) – Ok we got the Spring bump in listings this week.

Pending 23 (27) – not many but now we have some decent inventory for next week

Thats -7

Closed 15 (192)

Total houses on the market 54 (54) with a median of 2.24M (2.2M). Two years ago there were 59 on the market with a median around $1.95M.

Looks like there are some buyers out there and expect that to continue.

Im gonna say next week the headline will be that was then and this is now.

Last year up this way, we got a bunch of new listings and few pendings in the week ahead. It was when things really changed. Inventory shot up a lot. Dont expect that to happen this year. that was then and this is now

[sdrealtor]

Back to market data

New 15 (32) – traditionally a very busy week we got less than half of what we got last year

Pending 23 (13) – another good week of pendings as compared to last years beginning of the freeze up

Thats -8

Closed 15 (25) –

Total houses on the market 52 (83) with a median of 2.1M (2.1M). Two years ago there were 73 on the market with a median around $1.85M.

As I predicted the headline stands.

That was then this is now.

Last year inventory spiked this week, this year it fell slightly.

Of note a whole bunch of pendings and closings over $2M. This place is not the same place it was 10 years ago let alone 20 years ago

[sdrealtor]

New 22 (23) – got the same as last year

Pending 15 (25) – weak pendings this week, wonder what next week will bring?

Thats +7

Closed 15 (15) –

Total houses on the market 66 (87) with a median of 2.1M (2.1M). Two years ago there were 49 on the market with a median around $1.925M.

Something to watch. This past week is typically a bit of a market clearing week and pendings were light. That speaks to the softer demand this year. But the lower inventory number speaks lower supply. Its a standoff

[evolusdv2]

One in my hood on Blue Orchid came online at near peak pricing, at least in my view, and quickly went pending. We’ll see if it holds up through escrow.

[sdrealtor]

Forgot to post the numbers, here they are

New 17 (7) – last year was a very low number

Pending 19 (21) – pending sales a little better than last week

Thats -2

Closed 14 (19) –

Total houses on the market 65 (71) with a median of 2.175M (2.145M). Two years ago there were 57 on the market with a median around $2M.

Last year listings were very light due to rates soaring and shocking folks. That caused inventory to drop a lot last year. I expect a bigger inventory gap between last year and this year to return if not grow in the weeks ahead

We are also heading into what is typically a bit of an annual slow down as buyers shift to graduation/vacation mode. Lets see if that happens this year?

[sdrealtor]

Just closed basically at asking. Nice location but could use some updating. I wouldnt say it was peak but certainly within 5 to 10% of last years peak

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