Have the frenzy conditons become the norm? With Frenzy in the spring, and Not-Frenzy the rest of the year? Real estate agents/brokers/builders: what are you seeing in your local housing market right now? Note that the negative comments below are mostly the usual...
This house first listed for sale on November 1st for $1,650,000, and got all the extras; one Coming Soon, two Holds, four price changes, two Pendings, and finally closed today for $1,397,500. The listing agent gave it a good go, but it just looked like too much work...
I'm not going to get crazy-optimistic just because the over-list percentage more than doubled MoM, or because last month's median sales price was 11% higher than it was a couple of months ago. I'm just happy that the number of sales appears to have bottomed out. Let's...
It was a year ago that my uncle's girlfriend's house went on the market for full retail at $3,195,000. Nobody is going to feel sorry for the buyers who pay a half-million or more over list, and the buyers probably knew that it was lost money for now. But hey, they got...
It was the most insane frenzy ever, and it was the most intense at the beginning of last year as inventory started to thin out. Compared to that environment, I think these stats look pretty good: NSDCC Monthly Sales and Pricing Down 5% to 10% YoY, and on the rise? ...
The local index is 11% lower than its peak in May. The beauty about this market is that buyers don't have to fight with the decision to buy now or wait. Because the inventory of quality homes is so thin, having to wait is baked in. How often do buyers see a home for...
We have an unusual obsession with home pricing - I say unusual because nobody cares that our measuring devices are deeply flawed and regularly give the wrong impression. With the stakes being so high, you'd think homebuyers would investigate thoroughly - but everyone...
Let's revisit yesterday's graph and add the sales to compare the relative health of the market. If higher mortgage rates were stopping home buyers, then sales would plummet, especially in relation to the number of listings. But if the number of listings plummets too,...
Jessie says we are in the top 3% of local realtors, which means she is counting 16,000+ agents in the county. She doesn't include out-of-area or off-market sales, and because we made it into the Compass Top 50, we're hoping it might mean we're a little higher. Stay...
It was last year when Olivenhain homes selling for $3,000,000+ became a regular occurance. This house? 2019: $2,310,000 2023: $3,965,000 (+72%) Here is a glimpse: There were two new Olivenhain listings today that were priced over $5,000,000!
