We can endure a slight and gradual reduction of inventory in the higher-end market, where there will always be hundreds of choices available and the number of buyers are limited, relatively. But the squeeze on the lower-end is getting worse:
NSDCC Total Number of Listings, Jan 1-21
| Year | ||||
| 2017 | ||||
| 2018 | ||||
| 2019 | ||||
| 2020 | ||||
| 2021 | ||||
| 2020 vs 2021 YoY diff |
Not only has there been just 52 new listings priced under $1,500,000 in 2021, but today there are only 17 of them that are actively for sale. In an area with 300,000+ people!
P.S. The totals don’t always add up because of the ill-advised Range Pricing.
Today we are down to 3 detached listings here in 92011 Carlsbad/Aviara area. Now that we are past the inauguration we need to get the vaccine in the peoples arms. Then people can get out and move about more freely (by this Fall?) and home inventory should free up some.
I think I learned here that the Superbowl was the unofficial kick-off for the selling season. This year it’s 2/7/21.
I don’t think anyone should be counting on vaccines to be readily available to the general public for a long time.