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sdrealtor
ParticipantJust 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
ParticipantForgot 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?
ParticipantNew listings 4(8) –
New Pendings of 6 (11)
Thats -2
Closed sales at 6(10)
Total houses for sale 10 (22) with median of $1.033M ($1.088M). There were 16 on the market 2 years ago with a 885K median.
ParticipantNew 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
ParticipantNew listings 1 (9) –
New Pendings of 3 (7)
Thats -2
Closed sales at 3(5)
Total houses for sale 9 (20) with median of $980k ($1.104M). There were 17 on the market 2 years ago with a 860K median.
Like I said last week we are now comparing to freeze up numbers. Inventory less than half last year
ParticipantThat one looks like pretty nicely done from pictures and some good signs in garage
ParticipantFor me the issue with flips is not what they do but what they dont do. They do things that are highly visible and add sizzle. They rarely do second baths upstairs or infrastructure things like roofs, plumbing beyond fixtures, furnaces, electrical panels etc. Best place to assess that is look in the garage
ParticipantSomehow I see an orbital sander coming into my life
ParticipantBack 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
ParticipantBack to market data updates
New listings 4 (2) –
New Pendings of 6 (8)
Thats -2
Closed sales at 5(5)
Total houses for sale 11 (14) with median of $1.03M ($1.06M). There were 9 on the market 2 years ago with a 859K median.
This time last year the freeze up began. Inventory below last year and next week should be way under last year
Participanti found some nice trees. The reason you don’t see the really big ones is the homes are too new. The first guy is still there who planted them. They take 10 to 20 years to get big.
ParticipantHe bought new construction . The guy that goes first adds all those nice things after buying an empty shell albeit a nice new one
ParticipantOne last thing. You paid $550 but how much more did you have to spend pimping your ride with windows treatments, landscaping, appliances, paint and more. Bet that was another 50-100k you’re leaving out
ParticipantExactly. The reason you are surrounded by Californians is because you are in the ritzy neighborhood. You are looking through skewed glasses. The folks coming from other places aren’t moving into your neighborhood
3 years ago I sold a house in my neighborhood for 900k and today it’s worth about 1.8 so you are falling further behind. And you’ve fallen a lot more since last Spring too!
As an Econ prof I shouldn’t not have to lecture about the balance of supply and demand😂. You have tons more supply than my town with less people and a lot more being built. An independent eye would appreciate the better investment
As for what $1m gets you? Here it gets you extraordinarily valuable land. An asset that appreciates. A good analogy is we are driving Ford pickups and parking them in ocean view parking lots. There it gets you a nicer house on land of little value. A house is a rapidly depreciating asset. A good analogy is your thinking you are living the high life driving a Mercedes S class but you are parking it in a sink hole! So who is the real conservative here? Whose the political conservative and who is actually living a prudent conservative financial life? Enjoy your ride pimp daddy!
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