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sdrealtor
ParticipantWanted to get this one in early before holiday shutdown also. We expect the market to be mostly shut down by now. Homes listed now are more than likely vacant. Who would want to list their home over the holidays if they didnt have to? Why not wait for the early Spring rush to begin at this point. Lets see what we got
New listings 10 – steady dropping into holidays
New Pendings of 25 – buyers still very active
Thats -15
Closed sales at 27 –
Price reductions at 1
Total houses for sale 36 with median of $2.0M
This time last year inventory was historically low at 86. We are in unchartered territory. Looking through the inventory I see a bunch that will see in the next few weeks. Most of the new listings are vacant and often long term rentals or estate/probate sales. There are some high priced fishing expeditions going on. There are 5 priced at $5M+ but we had two in that range go pending this week. Everything is selling in every price range.
Verdict: Will see double digit pendings the next couple weeks clearing out whats left and sellable but mostly shut down here. This is a big market that should open the year barren of inventory. Like walking into a near empty Costco. I hope sellers come out to meet the demand next year and those that do should have a solid plan in place as to where they going next. Double digit appreciation in the bag next year
ParticipantWanted to get this one in early before holiday shutdown. We expect the market to be mostly shut down by now. Homes listed now are more than likely vacant. Who would want to list their home over the holidays if they didnt have to? Why not wait for the early Spring rush to begin at this point. Lets see what we got
New listings 4 – pretty much shutdown
New Pendings of 14 – buyers still chasing though!
Closed sales at 6.
Price reductions at 0.
Current inventory at 7 with median price of $969K.
Verdict: Of the 7 on the market 4 are negotiating offers and 1 cant be shown due to tenants. There are 2 overpriced homes sitting and one of which should sell in the next or at most two. Should be sluggish for rest of the year. This market is wrapped up for all intents and purposes
ParticipantI dont think so. I think it becomes and is becoming first time home for a new class of homebuyer. I’ve had first time homebuyers put down $500k with HH incomes well over $300k. Things a changin
Also many first timers start in condos and town homes here. Always have
Participantwouldnt surprise me to see median list price hit $1M but I think median sales price of $1M is a bit away
ParticipantNew listings 15 – steady dropping into holidays
New Pendings of 23 – buyers still very active
Thats -8
Closed sales at 20 –
Price reductions at 0
Total houses for sale 47 with median of $2.5M
I got my hands on a report with lots of data for SD County.
They looked at appreciation by size of home. Here are the top cities for each 1-4
1700 SQ FT House – Encinitas, Carmel Valley, Scripps, PQ
2500 sq ft house – 4S/RB, Carlsbad, Poway, PQ
3500 sq ft house – PQ, Encinitas, Scripps, CarlsbadPretty much all in San Dieguito and Poway school districts. Thats where the action was this year
ParticipantMore of the same
New listings 8 –
New Pendings of 11 –
Closed sales at 13.
Price reductions at 0.
Current inventory at 14 with median price of $950K.
Median not only came back it soared to all time high for 3 reasons. The under $800K market is pretty much gone. The new listings skewed toward the high end bigger/newer homes. There are a handful of way overpriced homes sitting on the market
ParticipantNew listings 11 – steady dropping into holidays
New Pendings of 21 – buyers still very active
Thats -10
Closed sales at 14 –
Price reductions at 2 (all very high priced homes)
Total houses for sale 48 with median of $2.29M
I now have inventory count going back a year. This time last year inventory was very low. Now its down almost 50% from last year. The market below $1M is essentially gone and even below $1.25M its neglible. Regardless of what any national media may be saying and what is happening else where we are heading int next year in a very strong market even unprecendentedly strong
ParticipantUpdate time and MM continues to be the model of consistently.
New listings 9 –
New Pendings of 9 –
Closed sales at 10.
Price reductions at 0.
Current inventory at 18 with median price of $857K.
Drop in median is just change in the mix and small sample size. No big deal. QCOM just had a big month and cant imagine soem of that wont get spread around here. This Spring I expect nicely remodelled homes will go 900K+ and some have already
ParticipantYou seem to be enjoying spreading them around the world as of late
ParticipantNew listings 11 – steady dropping into holidays
New Pendings of 23 – buyers still very active
Thats -12
Closed sales at 23 –
Price reductions at 5 (all very high priced homes)
Total houses for sale 54 with median of $2.375M
Seasonal pattern of listing volume seems to be settling in while no let up in buyers. The spring winds tighter
ParticipantUpdate time and MM just keep schugging along. Homes below 800K are rare and sales below seem to involve some shenanigans.
New listings 8 –
New Pendings of 8 –
Closed sales at 8.
Price reductions at 0.
Current inventory at 17 with median price of $900K.
Inventory built a little but nothing that looks significant. Looks like buyer traffic dropping seasonally a bit while listing volume has stayed steady
ParticipantA drop in price due to functional obsolescence is very a very different thing than my Happy Meal going up in price
November 3, 2021 at 10:10 AM in reply to: Zillow bought a house in a neighborhood where I’m active #823499Participant[quote=scaredyclassic]If they’d tried this 5 years ago, they’d be geniuses. Just bad timing…[/quote]
6-9 months ago would’ve worked. They loaded up during q3 paying big premiums when prices were flattening.
The CEO blamed it on the difficulty of forecasting home values which is their supposed expertise. He undercut their entire value proposition with that PR gaff. He’ll be looking for a new job soon
Participant[quote=gzz]Depreciation and deflation have actual definitions in economics, and not the way you use the words. The decrease in the market price of a new product over time is the latter, not the former.[/quote]
An iPhone 11 is not a new product. It’s a clearance item on the clothes rack with the rest of the men’s medium and small sizes. The iPhone 13 is a new product
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