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sdrealtor
ParticipantNew listings 5 (10) –
New Pendings of 5 (4)
Thats 0
Closed sales at 4 (2)
Total houses for sale 12 (19) with median of $1.05M ($974K). There were 11 on the market 2 years ago with a 800K median.
Last year we got a surge of inventory to start May but not this year. Id expect inventory to be below last year for the rest of the year. This market is balancing out
ParticipantNew 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.
ParticipantI went back and looked at April totals this year vs last and they are almost identical counts of new listings and pendings. Get ready for that to start changing big time
ParticipantNew listings 4 (7) –
New Pendings of 4 (7)
Thats 0
Closed sales at 3 (8)
Total houses for sale 10 (11) with median of $1.05M ($997K). There were 3 on the market 2 years ago with a 765K median. That was the low point before inventory started building quickly then also
Inventory is now below last year and I expect that to persist the rest of the year down here. This is when inventory spiked last year. It got as high as 44 in Mid July. Id be mildly surprised to see us reach 25. Getting to 20 even seems unlikely.
ParticipantNew 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
ParticipantNew listings 3 (1) –
New Pendings of 7 (8)
Thats -4
Closed sales at 2 (7)
Total houses for sale 7 (5) with median of $1.11M ($1M). There were 6 on the market 2 years ago with a 799K median
A little light on listings but too soon to call it a change here. Just chugging along though inventory has been declining
ParticipantNew 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
ParticipantNew listings 7 (9) –
New Pendings of 10 (6)
Thats -3
Closed sales at 3 (6)Total houses for sale 9 (9) with median of $975K ($1M). There were 10 on the market 2 years ago with a 782K median
I said this week would be a good test of demand with some good inventory available around $1M. Demand answered affirmatively! Double digit pendings for first time since last Summer. This market is doing just fine here. Inventory is back to last Spring level and looks like its going nowhere. Last Summer it reached 4X what it is now and I dont see that happening again this Summer
ParticipantNew 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
ParticipantIts been 6 months since we revisited this. How is our old friend and his new home doing these days?
ParticipantNew listings 7 (4) – new listings are all FDR (Flips, Deaths, Relocation). Highest count since November and what we should be getting if not more
New Pendings of 3 (5) –
Thats +4
Closed sales at 6 (8)
Total houses for sale 12 (4) with median of $1.05M ($1.18k). There were 9 on the market 2 years ago with a 799K median.
A bunch of the new listings are nicely done flips around or above the $1M mark. Next week or so will be a good test of demand. There are some nice places available albeit at current pricing
ParticipantMid 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
ParticipantI don’t follow others close enough except possibly Mira Mesa which could fit that but definitely does not. Things seem tight everywhere. SD might be the most inventory constrained market in the country
ParticipantSome data to chew on 4 weeks of March data
2021
New listings 103
Pendings 141
Closed 942022
New listings 70
Pendings 94
Closed 822023
New listings 51
Pendings 57
Closed 52The drop off in new listings is astounding here. Half of what we had 2 years ago! The drop in pendings is even more astounding!
I take a few things away from that.
There is much less coming on the market this year. Sellers are digging in and not moving around. The market is mostly estates and people leaving the area. The move up/move down/move around town market is anemic this year.
The lack of new inventory is limiting sales. Pendings are much lower and its gotta be putting a big hurt on a lot of agents around here. The ranks will continue to thin out
Prices are holding up pretty well because of low inventory. If there was a flood we’d be in trouble.
I dont expect a flood but we should get a fair amount more. That should put pressure on prices again in Fall up here. Guess we’ll have to watch and wait to see what happens
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