Inventory Shortage

Market Conditions | North County Coastal | Sales and Price Check

September 12, 2021

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The NSDCC Monthly Sales were hopped up in April and June of this year, but are now getting back in line with previous years. Is the demand ‘cooling off’, or is it because we don’t have enough homes for sale?

NSDCC Listings & Sales

Year	June Listings	July Listings	August Listings	3 mo. total	August Sales	Median SP
2018	476	447	433	1,356	275	$1,325,000
2019	435	459	418	1,312	262	$1,354,500
2020	448	487	457	1,392	350	$1,419,812
2021	386	357	307	1,050	267	$1,950,000

If the number of listings between June-August is usually around 1,350, we are 22% below that this year.

Yet the number of August sales is about normal. But the 37% YoY increase in the median sales price suggests that the demand is not only strong but that we’d have more sales if there were just more listings!