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sdrealtor
ParticipantAgain the model of consistency
New listings 9 –
New Pendings of 9 –
Closed sales at 9.
Price reductions at 1.
Current inventory at 17 with median price of $850K
Flippers are jumping on anything they can get in the mid 700’s knowing they should be able to sell for 900+ come January with a quick remodel
This market looks like it will just keep rolling along at its present pace. I think prices will be around $50K higher by February and who knows where they go from there
ParticipantWhat level is your mansion? How about your henchman?
ParticipantOdd thing is same agent had place in bread n butter area of Encinitas (Village Park) but no calls from Bay Area cash buyers. The pockets of relative abnormal demand are not everywhere in SD. Just spoke to a neighbor that bought a year ago for 1.25 and hes at 1.75 now
Just an FYI in 92106/92107 you are at 13 active and 22 pending for $2M and less so 1.7:1. We are 4:1 up here by the same measure (20 active:80 pendings). Despite the numbers being larger, its far more inventory constrained up here. For comparison Carmel valley is 8 active:22 pendings. Its a powder keg up here at the moment
ParticipantStopped by broker open house around the corner today. Was talking to agent. House was listed yesterday. Already has 7 showings booked for Saturday that are all cash buyers. Bay Area
ParticipantNew listings 11 – this is when new listings should typically fall off substantially
New Pendings of 22 – demand keeps chugging along
Thats -11
Closed sales at 21 –
Price reductions at 3
Total houses for sale 57 with median of $2.65M. The median list price is way up suggesting the low end inventory is thinner than ever.
I dug a bit deeper on that looking at the under $2M market. As of today there are 20 actives and 80 pendings. In a typical market we see 2 to 3 active for every pending. Today we have 4 pendings for every active. This feels like a powder keg
ParticipantThe model of consistency
New listings 8 –
New Pendings of 9 –
Thats -1 change
Closed sales at 12.
Price reductions at 1.
Current inventory at 18 with median price of $855K
This market looks like it will just keep rolling along at its present pace
ParticipantWould love to see a middle ground party formed. Honestly I think it would have to be a very moderate Republican rather than a conservative Democrat to make it work though. Of course I could be wrong
ParticipantNice attempted political thread jack. I am talking about the economy here not the pandemic which we are all pretty much in agreement on. Back on ignore list you go
ParticipantNew listings 17 – back up to me typical levels
New Pendings of 26 – demand keeps chugging along
Thats -9!
Closed sales at 14 –
Price reductions at 6 -Some still struggling to get it right
Total houses for sale 60 with median of $2.3M. More than 1/3rd are very high priced ($3M+). The spring winds tighter
ParticipantNew listings 7 –
New Pendings of 10 –
Thats -3 change
Closed sales at 12.
Price reductions at 0.
Current inventory at 20 with median price of $849K.
More than half the actives are over 3 weeks which suggests they are overpriced and need to be reduced
Very steady
ParticipantYup the doomsayers are essentially winless around here
Participant[quote=scaredyclassic]Joni Mitchell never sang about Utah or temecula.
Move in day at UCSB. Makes CA look pretty damn nice. The futures uncertain but these kids look ready to do something.
Man the dads look like hell. Hard to raise kids. I was playing hackysack on the lawn while the kid was moving in and security came to check if I belonged.
Very suspicious, old dude hackysacking.[/quote]
Congrats on UCSB! My daughter ended up UCSD but really wanted to go there. Heck! I wanted to go once I saw it with her
ParticipantWhat is it revealing? Are you actually asking that? What does skyrocketing prices in a place without the economy or jobs to support it reveal? What have you been doing the last 14 years you’ve been here? Have you read anything? Maybe it’s time for you go back and read Rich’s Bubble Primer
ParticipantY’all covered it pretty well
Enjoy your new home. I’m enjoying my long term home and will continue to do so
for the fun of it I googled most overpriced cities in America. Guess which state has 3 out of 10 of the most overpriced real estate markets?
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