It's been ten years since the bottom of the market. Let's see how the annual median-sales-prices of detached-homes have changed: Town or Area Zip Code 2009 2014 2019 10yr % chg Cardiff 92007 $785,000 $1,180,000 $1,408,000 +79% NW Carlsbad 92008 $587,000 $740,000...
The SP:LP ratio has been very consistent for those selling a home under $2,000,000 - you can expect to get pretty close to your asking price. Above $2,000,000 is a different story. Mortgage rates had averaged 3.99% in 2017. You can see how the lower-end buyers became...
This is a price survey that ranks the over/under for each metro to the 2.8% value growth expected nationwide. I'll take the over for San Diego! The Zillow Home Price Expectations Survey sponsored by Zillow and conducted quarterly by Pulsenomics LLC, asks more than...
Mortgage rates were the best they've been in December since 2012. How were sales? We had a nice pop in sales compared to 2018, but that's about it: NSDCC December Sales Year # of Sales Median SP Avg. Cost-per-sf 2015 258 $1,094,500 $477/sf 2016 240 $1,150,000 $502/sf...
We've never had a soft landing before, but this is how I imagine one would look - mortgage rates drop just enough to have sales and pricing level out: Year # of Sales Median SP Avg. Cost-per-sf Median DOM 2014 173 $985,000 $489/sf 34 2015 196 $1,173,750 $518/sf 38...
Our market was slumping towards the end of 2018, so no surprise that the numbers this year look so good. But the pace since 2013 is remarkable, and for last month's sales to only be down 10% vs. 2013 is incredible, given how strong our market was then: NSDCC...
A positive forecast from our friends at JBREC: Our proprietary model using Google search trends shows a bottoming & re-acceleration in resale and new home sales growth YOY into year end. Lower mortgage rates, better affordability, and an easy comp vs. last year's...
I was talking to Nick yesterday about the current market conditions, and how home sale have been affected by the low mortgage rates recently. You can see in the graph above that over the last five years we've been accustomed to rates in the threes, so it seemed...
I agree with Rich about pricing, and we are too deep into the year for it to change much now. There will be occasional deals, but for the most part, sellers will just wait until spring rather than give it away....
Talking heads would look at these MSPs and declare, "Home prices were UP 6% last month! But it's the median sales price that increased - not every home's value: NSDCC Detached-Home Sales, September: Year Sept. # Sales Med SP Med $/sf 2017 259 $1,265,000 $450/sf 2018...
