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sdrealtor
ParticipantUndeniable
ParticipantRan numbers but caught $10 Tuesday at Cinopolis yesterday. here they are.
New listings 16 (21) – another low number. 2 more weeks to get house on market and sell before end of summer
New Pendings of 15 (28) – demand waning but typically see one more burst to get in before school starts. Watch if that happens?
Thats +1
Closed sales at 20 (17)
Total houses for sale 141 (73) with median of $1.95M ($2.1M)
Same trend continues. New listings are atypically low but pendings dropped even more. Inventory feels plateauish for now but in 2 weeks when listings should start to drop even more and we should get last surge to get in before school starts inventory should start to drop. For now soft landing conditions are still present.
ParticipantI grew up in NJ and have tons of friends/family with homes in Florida. They generally fall into 3 categories. This is a broad generalization but its hard for me to think of many exceptions
1. Working class – moved after high school/college (not a highly ranked one) to get to better weather/beach area. They work a regular job, have been there a long time and live there full time. They just deal with it and get out to travel when they can
2. Professional class – at some point in their professional career picked up a second home in Florida that was mostly a vacation home. Many have upgraded over the years. They spend more time there over the years and some upgrade while spending the more than 183 days there to obtain residency. But they are and always will keep homes elsewhere never being full time residents. The other homes typically fall in 2 categories. The long term family home that is often sold once kids are out of college and on their own. The Shore house which they will never get rid of and will spend May through Mid-September. Several have other homes also due to much lower real estate prices than in CA
3. Retirees – sold everything else and moved to Florida. Travel regularly to visit friends/family and see the world if healthy enough.
Most of my close friends fall into #2. Most of my family members not living out West fall into #3
ParticipantNew listings 7 (10)
New Pendings of 2 (9)
Closed sales at 2 (8)
Inventory at 40 (120) with median of 937K (868K)
Inventory creeped back up a bit but still under high of the year (44). Observed a couple interesting things. There were 3 more pendings that quickly fell out out. The other thing Im seeing is the median is being pulled down by a bunch of fixers that 6 months ago wouldve been snapped up by flippers. I noted last week that fixers were starting to sit which I think is positive for entry level buyers looking to get in. We just need those prices to make sense for them. Looks like most of the flippers got their flips sold also
Participant[quote=The-Shoveler]My friends on the east coast often joke that its a state law in NY and NJ that you must move to Florida by your 65th birthday.[/quote]
That’s a rule. Most of my friends have Florida homes and began shifting residency once kids were all out of high school. People been doing that forever
July 25, 2022 at 4:30 PM in reply to: California Real Estate An International Store Of Value #826428ParticipantWell I dont know where they are buying but a couple months ago I researched cash buyers and at least in the handful of areas around town I searched they are not impacting our market here much if at all
ParticipantGenerally speaking population shifting from big eastern and northern cities to smaller sunbelt cities.
It’s as if boomers are retiring
Participantmost new listings get entered wednesday through friday, so far 8 this week. We may actually get a sellers strike. Gonna try to follow this aspect closely to see if its happens
Participantmost new listings get entered wednesday through friday, so far 3 this week.
ParticipantWait till you get back. They are everywhere. I can’t leave my house without seeing ten of them. Extremely popular with 14 year old kids often with three kids piled on one. They need to regulate them better here before we see lots of kids getting hurt or worse. I saw a guy get killed on coast highway a few weeks ago. With that said they have great promises especially places like here. Cool thing you built yourself doc
ParticipantYes the median which means in many places and in some places more. But I wouldn’t expect uniform drop. I bought a NP condo in 2010 for almost 70% off 2005 price. I sold six years later for almost the 05 price. If I’d held it’s now 60% higher than 05 price. My primary dropped at most 22% and is now more than 2x the 05 price. That kind of thing will happen again
ParticipantYes just like here but not as low in comparison. Last I checked we were around 40% of 2019 inventory here. Median Asking prices dropped 100k+ close to 15% in four months. Don’t ask, don’t get as my mom always told me. If that is accurate it is definitely cratering
ParticipantJust found this in my daily real estate reading. Prices appear to be cratering and that’s without an inventory build up
Washington County, UT (St. George, fastest growing county per capita in US during pandemic): June Inventory, 1,175; Current Inventory, 1,203; Peak inventory from 7/2016 through current, 1,878 in 3/2019, pre-Covid average inventory, around 1,600
June Median Asking: $749,500; Current Median Asking: $685,000, peaked in March at $795,450 -
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