New-Listings Comparison

Written by Jim the Realtor

May 23, 2022

The market’s direction will be determined by inventory, and San Diego is #1 on Bill’s list for the biggest percentage drop year-over-year.  Also consider how the San Diego metro compares to others that had a similar number of new listings in April:

Metro Area
April Listings
Metro Population
People Per New Listing
Boston
3,386
4.9 million
1,447
San Diego
3,513
3.3 million
939
Portland
3,684
2.5 million
678
Columbus
3,620
2.1 million
580
Jacksonville
3,472
1.6 million
461

Our market is starved for inventory, so you really can’t blame sellers for pushing it, price-wise. Buyers may back off some, and not as many listings will sell. But when the success rate of listings-that-sell has been an unusually-high 80% to 90%, we can afford some additional failure.

We’re going to have fewer sales. Panic selling? Probably not.

https://calculatedrisk.substack.com/p/final-look-at-local-housing-markets-a11

1 Comment

  1. Jim the Realtor

    We do have three offers on the Carlsbad entry-level condo, all over $800,000 (list is $750,000). I have four showings today of the La Jolla masterpiece, two of which are come-backers. I think I’ll have multiple offers by tomorrow.

    Get Good Help!

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