Steady In NSDCC

Jim's Take on the Market | Market Conditions | North County Coastal | Sales and Price Check

Written by Jim the Realtor

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August 13, 2019

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Though there has been a lot of noise and commotion in the real estate business lately, our local market has been relatively solid, given how unaffordable homes are for the masses:

NSDCC Between June 1 – July 31

Year	Number of Listings	Number of Closings	Listings/Closings Ratio	Median Sales Price
2014	937	593	1.58	$1,045,000
2015	1,056	663	1.59	$1,050,000
2016	1,008	583	1.73	$1,165,000
2017	856	624	1.37	$1,255,000
2018	925	572	1.62	$1,302,500
2019	894	553	1.62	$1,289,500

Of these six years, the mortgage rates were the lowest in the summer of 2016, so there doesn’t seem to be a direct connection between rates and sales – the L/C ratio was the worst then.

The number of sales were the lowest this year, and you could blame it on the lack of opportunity – there hasn’t been that many new listings. It’s surprising we had that many sales.

Look how close we have been hugging the median L/C ratio of 1.6 lately!

As long as the supply remains in check, our market conditions probably won’t change much.