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sdrealtor
ParticipantNew listings 16 (11) – biggest count in 3 months
New Pendings of 12 (21) – about the same its been
Thats +4
Closed sales at 15 (14)
Total houses for sale 93 (48) with median of $1.925M ($2.287M).
Slight increase in inventory and it seems most of its on the high end. One more week of typically flattish inventory and then should start seasonal decline
ParticipantI think that rule of thumb is wrong and it’s important to consider we live in Ritz Carlton of locations for homes. Do heaters and a/c have any easier life than in SD? Yards, home exteriors, roofs?
I’m pretty sue I’ve been well under 6k. My landscaper was $1200/year but fired him 8 years ago and put in drought tolerant for well under $10k that looks much nicer too. Spent $3500 to paint exterior 7 years ago and won’t need to do that again for a long time. New fences were 3k about six years ago and those will last 20+ years. No pool to care for, only HOA of about $1500/yr but that includes pool, gym, tennis, parks and more I use often. I’m sure many of my neighbors spend more by choice but that’s a different matter
ParticipantNew listings 7 (9)
New Pendings of 7 (9)
Closed sales at 2 (10)
Inventory at 31 (18) with median of 957 (857)
Another slight uptick in inventory. When I look at the compostion of the inventory, pricing seems to be part of the issue here. The market is steadier up to high 800’s and most recent closings have been in low to mid 800’s for the regular homes but most listings are still in 900’s. Pricing is where it is and sellers need to catch up with where market is. Should be one more week of flattish inventory and in two weeks seasonal decline should begin.
Participant[quote=nostradamus]All that kool-aid has made you defensive. My comment should help you understand what info people actually want to see, but please continue posting that sweet, sweet sunshine with no links to support it.[/quote]
Uhh i post actual data every week. Your link included advertisements for a new builder for unbuilt homes. There’s one listing for each floorplan. There’s no sunshine in my post just reality. Sorry if it’s not as bad as you hoped it would be
My data shows exactly what is happening and I’ve pointed out what is happening with prices (they are down about 15% of Spring peak numbers in most of SD). New pendings are way down but new listings are down almost as much. That indicates we will continue to see declines but they will be muted by limited inventory giving time and inflation the ability to do their thing.
ParticipantStick to your day job. That link includes 10 unbuilt new construction for various models in 3 Roots that are not attached to a single property and have been in those listings for months
ParticipantAlready have been significant declines many places like up here. Happy to share some ideas but need more info like vitals, wants, needs, like etc. but advice will still be rent a year to get lay of the land. Most of the damage should be done by this time next year.
ParticipantI have historically spent nowhere close to that
ParticipantI’ve not spent over $1000 a month which is what the nicer buildings run and for a much smaller property.
ParticipantNew listings 8 (11) – less coming on market
New Pendings of 13 (23) – but more selling with lower prices
Thats -5
Closed sales at 10 (23)
Total houses for sale 89 (54) with median of $1.829M ($2.375M).
Pendings not as high as last week but still doing OK and eating away at supply. As in MM we’ve had a lot less come on the market the last 5 weeks (50 this year vs 76 last year).
Demand is much lower than last year but new supply is also. Where it all goes will dictate price action next year. Will supply increase a lot come Spring or does the seller’s strike continue? TBD
We are 3 weeks from when discretionary seller’s typically start taking a break for the holidays
ParticipantJust saw this. Id have to look into it but Ive always felt the high maintenance fees down there always are a tough sell down there particularly when appreciation isnt in the near term cards
ParticipantNew listings 4 (8)
New Pendings of 3 (8)
Closed sales at 5 (8)
Inventory at 27 (17) with median of 945 (900)
Little bouncing around of the data possibly due to small sample size but we do have a little more inventory mostly due to less selling.
Last year our market exploded in Spring due to low inventory and low rates. In the last 5 weeks we’ve gotten 19 new listings here. Last year there were 40 over the same period. Not saying we are gonna take off but that does bode well for some relative strenght coming back for sellers. Of course with rates continuing their upward track that will counter a lot if not all of this.
Participant[quote=FormerSanDiegan][quote=sdrealtor]And then a baseball game with a legendary ending before grabbing a flight home Sunday night. So fortunate[/quote]
That ending sucked.[/quote]
I loved it
ParticipantJust know there is no national housing market only a series of local markets. SD is always on the bleeding edge. If you relie on folks like that you will miss the inflection points here. We will be close to our bottom well before others
ParticipantNew listings 6 (17) – less coming on market
New Pendings of 19 (14) – but more selling with lower prices
Thats -13
Closed sales at 8 (23)
Total houses for sale 93 (55) with median of $1.85M ($2.5M).
And just like that new listings evaporate again. The bigger surprise though is the big bounce back in pendings! There were tons of buyers out last Spring and many didnt get new homes. Im sure the higher rates have priced out a bunch of folks but not all. Prices are lower now, a lot lower. Im talking as much as 200-400K for some houses and that seems to be getting some folks off the sidelines.
I’ll be watching that and if it continues it will serve as more evidence that there will be enough buyers at new price levels to prevent another big leg down. Im still thinking we should see another 10% next year but also thinking that may very well be it.
On a side note spent a quick weekend back east at a high school reunion which was an amazing experience. Reconnected with lots of childhood friends that are not just incredibly succesful but also still well grounded wonderful kind people. Oh and funny too. Havent laughed so much in a while. No one cared so much what others achieved but rather that we were all generally happy, healthy and here. And then a baseball game with a legendary ending before grabbing a flight home Sunday night. So fortunate
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