The Short Sale Monitor

[sdrealtor]

Update time!

Short sales 2,199 up from 2,113 last week! Increases are steady but there hasnt been a surge in the velocity.

Total SD County Listings 17,243 a very small climb from 17,075 last week. Inventory has not flooded the market and I dont think it will.

Quick update on NC Coastal. Active listings are flat (457 to 463) and pendings (in escrow) are also (169 to 174). Not much change here. I dont have my data from the last few years to check against the pattern and will try to get to it later.

In Carmel Valley, the market is smokin hot, inventory is pretty low and the supply/demand in balance. For the sake of consistentcy, I based these numbers on the top of the range where range pricing was used. Not perfect but you need to put a line in the sand somewhere. I also pulled out new homes and those in the Poway school district.

There are 30 homes in 92130 under $1M and 22 in escrow.

Between $1M and $1.25M its 27 on the market and 19 in escrow.

Between $1.25M and $1.5M its 27 active and 7 pendings which is the only real sign of weakness in CV. To be fair we should probably pull out Stratford which are 2BR single level homes and basically cater to RSF wannabe retirees from what I understand. That would make it 22 active and 6 pendings.

Between $1.5 and $2M its 21 actives and 7 pendings which is pretty strong for that price range.

[Artifact]

Same story for the figures – the rate of increase was less for both total listings and short sales, but the short sales are still increasing faster than listings. The difference between the two seems to be pretty constant.

[img_assist|nid=3421|title= Total Listings and Short Sales|desc=|link=node|align=left|width=466|height=275][img_assist|nid=3422|title= Percent Change and Percent Short Sales of Total Listings|desc=|link=node|align=left|width=466|height=275]

[CAwireman]

sdr,

Thanks once again for keeping us updated.

Please continue if you would kind sir!

HiggyBaby

[sdrealtor]

Update time!

Short sales 2,199 up from 2,113 last week! Increases are steady but there hasnt been a surge in the velocity.

Total SD County Listings 17,548 another small climb from 17,243 last week. Inventory has not flooded the market and I dont think it will. Last two big listing waves are around June 1st and late June after school lets out.

Quick update on NC Coastal. Active listings(463 to 468) and pendings (174 to 180) are both up but pendings a little. The ratio of active to pending also went down a little. Not much change here. I still dont have my data from the last few years to check against the pattern and will try to get to it later.

We’ll take a look at Carmel Valley tommorrow.

Anecdotes from the field. I was out showing homes in Del Mar this weekend. A very nice 3350 sq ft was listed for $1.7M last week and there was bumper to bumper traffic through it. There were two other showings the same time as me and I even got blocked in the driveway. From what the agent said, it was shown about 20 times over the weekend. It wasnt what my clients were looking for but if it was they would have written an offer on the spot. I’d be surprised if it isnt sold by the end of Memorial Day.

[sdrealtor]

Update time!

Short sales 2,199 up from 2,113 last week! Increases are steady but there hasnt been a surge in the velocity.

Total SD County Listings 17,548 another small climb from 17,243 last week. Inventory has not flooded the market and I dont think it will. Last two big listing waves are around June 1st and late June after school lets out.

Quick update on NC Coastal. Active listings(463 to 468) and pendings (174 to 180) are both up but pendings a little. The ratio of active to pending also went down a little. Not much change here. I still dont have my data from the last few years to check against the pattern and will try to get to it later.

We’ll take a look at Carmel Valley tommorrow.

Anecdotes from the field. I was out showing homes in Del Mar this weekend. A very nice 3350 sq ft was listed for $1.7M last week and there was bumper to bumper traffic through it. There were two other showings the same time as me and I even got blocked in the driveway. From what the agent said, it was shown about 20 times over the weekend. It wasnt what my clients were looking for but if it was they would have written an offer on the spot. I’d be surprised if it isnt sold by the end of Memorial Day.

[Artifact]

sdr – I think you mixed up the short sale number with last weeks numbers- Those two numbers are the same as for the previous two weeks? The total listing number looks correct though.

[Artifact]

sdr – I think you mixed up the short sale number with last weeks numbers- Those two numbers are the same as for the previous two weeks? The total listing number looks correct though.

[sdrealtor]

Good catch! Its 2260.

[sdrealtor]

Good catch! Its 2260.

[Artifact]

Here are the figures – the first week in a while that the rate of increase in short sales is noticeably less. It is still increasing, just not as fast as the previous weeks, and still increasing faster than total listings, but not by much this week.

[img_assist|nid=3489|title= Total Listings and Short Sales|desc=|link=node|align=left|width=466|height=267]
[img_assist|nid=3490|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=267]

[Artifact]

Here are the figures – the first week in a while that the rate of increase in short sales is noticeably less. It is still increasing, just not as fast as the previous weeks, and still increasing faster than total listings, but not by much this week.

[img_assist|nid=3489|title= Total Listings and Short Sales|desc=|link=node|align=left|width=466|height=267]
[img_assist|nid=3490|title= Percent Change and Percent Short of Total|desc=|link=node|align=left|width=466|height=267]

[sdrealtor]

A quick note to the NCC followers. SFR inventory is down 23% (603 to 468) from this time last year and pendings are up 23% (147 to 180). Anecdotally, my guess is that May’s sales figures will be abysmal. The issue is that listings are way down too so the balance is not shifting quickly to the buyers side. Looking more and more like a long, slow slide down around here.

[sdrealtor]

A quick note to the NCC followers. SFR inventory is down 23% (603 to 468) from this time last year and pendings are up 23% (147 to 180). Anecdotally, my guess is that May’s sales figures will be abysmal. The issue is that listings are way down too so the balance is not shifting quickly to the buyers side. Looking more and more like a long, slow slide down around here.

[sdrealtor]

Update time!

Sorry for the delay but I had to take a quick vacation to find some Sun to keep the family from going bonkers with all the gloomy weather of late. I ran the numbers the same time as usual on Monday but didnt have the time to post an update until now.

Short sales 2,369 up from 2,260 last week! Increases are still steady.

Total SD County Listings 17,725 another small climb from 17,548 last week. This tends to be a big week for new listings. Next week’s report will be telling.

Quick update on NC Coastal. Active listings(468 to 485) and pendings (180 to 171) went in opposite directions which tips the scales a bit towards the buyers side.

Anecdotes from the field. I was driving back home through French Valley/Murrieta/Temecula today and cant believe how many homes have been built out there. It doesnt surprise me that speculation and fraud was rampant out there. What the hell does anyone need with an 8 bedroom house anyway?

In f/u to last weeks post, the nice house in Del Mar I mentioned last week went into escrow on 5/30 right after Memorial Day. We looked at 4 houses that day and 3 out of 4 we looked at have sold.

[sdrealtor]

Update time!

Sorry for the delay but I had to take a quick vacation to find some Sun to keep the family from going bonkers with all the gloomy weather of late. I ran the numbers the same time as usual on Monday but didnt have the time to post an update until now.

Short sales 2,369 up from 2,260 last week! Increases are still steady.

Total SD County Listings 17,725 another small climb from 17,548 last week. This tends to be a big week for new listings. Next week’s report will be telling.

Quick update on NC Coastal. Active listings(468 to 485) and pendings (180 to 171) went in opposite directions which tips the scales a bit towards the buyers side.

Anecdotes from the field. I was driving back home through French Valley/Murrieta/Temecula today and cant believe how many homes have been built out there. It doesnt surprise me that speculation and fraud was rampant out there. What the hell does anyone need with an 8 bedroom house anyway?

In f/u to last weeks post, the nice house in Del Mar I mentioned last week went into escrow on 5/30 right after Memorial Day. We looked at 4 houses that day and 3 out of 4 we looked at have sold.

[Author]

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