After the display of quarterly sales, reader ‘propertysearch’ asked about the pricing curve.
The cost-per-sf measurement is an imperfect tool when analyzing individual homes, there tends to be a complexity of other factors that weigh into the buying decision. But here it charts the trend fairly well of the quarterly detached home sales from Carlsbad to Carmel Valley:
Was last quarter just a blip in the downward trend, or is the trend looking for the floor?
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How much do the higher-end homes skew the chart?
Of the 506 houses that closed last quarter, 130, or 26% were over $1,000,000.
Below $1M = $309/sf
Above $1M = $533/sf
Maybe I should split them, and do two charts?
Is the quality of the $1MM+ homes almost twice that of the others, or are those sellers just more stubborn? (I’m guessing the latter.)
I’m guessing the lot sizes/location skew those $/sqft numbers in $1mm+, but I also think Kwaping is right.
I was surprised to see we’re still so far away from $300/sqft.
I’m surprised 26% were over 1 million.
I’m not sure how that lines up in a historical comparison, but that’s a fairly significant chunk of the pie.
Especially with all the talk of the high end market being frozen.
Yes, me too – maybe the frozen tundra is just in OPTs’ heads?
There have been 677 homes close this year over $1,000,000 in San Diego County, at an average of $557/sf. With full-doc jumbo loans only.
In July there were 121 closed, at $541/sf.
Just add two more lines to the existing chart!
Stuff is moving. A friend of mine today just accepted an offer at $250.00 per sq ft and is in escrow selling this home in Santee.
http://www.sdlookup.com/MLS-090037024-8577_Clifford_Heights_Santee_CA_92071
I would think Santee and inland SO SD CTY would be $200.00 per sq ft or less for a smaller tract home?
That 26% does sound pretty impressive. Any data handy on the pre-boom ratio?
This is a HOT market. I wish we had a house, only so we could sell it right now.
Can you overlay north county inland as a point of comparison? I’m interested to see the trend between REO % and price drop – does it lag or lead?
thanks,
Chris
1Q09 is a bottom… just like 1Q07 was.
I’m of the opinion that one trend line is insufficient. Yet I have no idea what $ ranges would make for the most interesting graph.