It’s Really Go Time Now!

Interest Rates/Loan Limits | Jim's Take on the Market | North County Coastal | Sales and Price Check

March 26, 2019

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Mortgage rates have continued their slide, and lenders should be offering fixed-rate loans with rates starting in the threes again, with little or no points! The new pendings are flowing, but we still haven’t seen a flood of new listings:

NSDCC Detached-Home Listings and Sales in March

Year	March Listings	Median LP	March Sales	Median SP
2015	497	$1,275,000	298	$1,137,500
2016	532	$1,470,000	252	$1,143,665
2017	505	$1,395,000	258	$1,074,000
2018	446	$1,549,000	259	$1,397,500
2019	396	$1,514,497	153	$1,320,000

The latest numbers are month-to-date, and will increase considerably with four business days to go. But the March sales will end up well under last year’s count, though the lower rates should help boost sales in April and May.

There are threes on the street:

For those who want to prepare for making an offer and would like to review our contracts, the California Association of Realtors have made available a sample copy with explanations:

https://www.car.org/riskmanagement/Consumer-RPA

Don’t be surprised if it’s a little clunky.