Baby boomers in full control of the market, and very few have a reason to sell. In fact, the list of reasons NOT to sell is so long that you can’t help but have a personal favorite that keeps you in limbo:

1. I don’t need the money.

2. The grandkids are here.

3. My low property taxes have me locked in.

4. My low mortgage-interest rate has me locked in.

5. Everything else is too expensive.

6. I don’t want to leave the city/state.

7. My parents might move in.

8. My kids might move in.

9. My kids need to inherit because they can’t afford a home.

10. I don’t want to pay capital-gains (on more than the $500K).

11. I got a reverse mortgage.

12. I love it here!

13. Waiting for the market to peak.

Yet we don’t have an inventory problem – heck, there are 1,005 houses for sale in North SD County’s coastal region (La Jolla to Carlsbad).

To buy one, you need to have some horsepower – the median list price is $2.25 million.  But at least it looks like higher-end pricing has slowed:

First-half stats for homes priced over $2,000,000:

Year	Jan-Jun # Listings	Median LP	Jan-Jun # Sold	Median SP
2013	628	$2,998,000	203	$2,620,000
2014	646	$3,197,438	218	$2,776,000
2015	712	$3,250,000	252	$2,820,500
2016	856	$3,092,500	257	$2,754,000
2017	805	$3,100,000	293	$2,749,000
2018	862	$3,098,000	312	$2,645,000
2019	898	$2,995,000	298	$2,694,000

Has the higher-end market peaked? Compare this year to 2013.

It could be that egos are causing homes that are really worth $1.7-$1.9M to slip up into the $2M+ range, which would skew the median prices lower. But the sales have leveled off over the last three years, in spite of more choices. More listings but fewer sales keeps the pressure on pricing.