If you want to stay closer to San Diego and don’t mind living in the desert, then check out the homes that Davidson Communities is building in Cotino, a master-planned community in Rancho Mirage!
Bill doesn’t have pricing on his homes yet but the community is selling in the high-$1 millions to low-$2 millions.
https://homes.storylivingbydisney.com/#/journey/package-exteriors
Two days left!
San Jose, CA, emerged as the fastest-moving market in the U.S. in February. A typical home there waited for a buyer for just 22 days, even though the median home list price in the wealthy Silicon Valley hot spot stood at an eye-watering $1.3 million.
No. 2 on our list of the swiftest real estate markets in the nation is yet another high-priced Silicon Valley tech hub. The largest city in California’s Bay Area, San Francisco saw its for-sale homes linger on the market last month for a median of 30 days, or less than half of the national figure.
A typical home in San Francisco during that time had a median list price of $899,944, down 9% compared with February 2024.
“Large coastal markets continue to see homes sell quickly as high-earning home shoppers flock to these business hubs,” says Hannah Jones, senior economic research analyst at Realtor.com.
Looking across the country to the East Coast, the historic city of Boston had the third-fastest market pace in the U.S., with just 33 median days on the market for a typical home, despite the relatively high price tag of $839,450.
“The East Coast markets have not seen inventory recover to pre-pandemic levels, which keeps market pace snappy,” says Jones.
Some 430 miles southwest of the famous New England college town, the nation’s capital of Washington, DC, saw the fourth-fastest home selling times in February, with a typical property staying on the market for a mere 34 days.
It remains to be seen whether the large-scale purge of the federal government, led by Elon Musk’s Department of Government Efficiency, would have a chilling effect on the DC real estate market in the coming months.
The latest data analyzed by Realtor.com economists and compiled in the weekly housing trends report revealed a rapid surge in for-sale inventory in DC, which has the nation’s highest share of federal workers, at 11%.
San Diego rounds out the list of the nation’s top five fastest-moving markets, according to Realtor.com data. A for-sale home in the beachside metro with a population of 1.38 million people, located on the border with Mexico, sat on the market for a median of 34 days last month.
The median list price in San Diego was $949,995, down 4.7% year over year.
“The West Coast markets are better supplied [than the East Coast] but continue to be highly competitive as still-strong demand keeps these markets moving at a brisk pace,” according to Jones.
Based on the Best Time To Sell report from Realtor.com, homeowners in San Jose, San Francisco, Washington, DC, and San Diego should be getting ready to list their properties by March 23 if they want to get a bigger payout, while taking advantage of higher-than-normal demand, less competition, and fewer price reductions.
Link to ArticleNSDCC Total Number of New Listings, Jan 1 to Mar 15
The number of listings hitting the market is higher than it’s been, and there will be more late-reporters adding to the 2025 count in the coming week or two.
I’ve been a regular customer of Rancho Photos since 2012. On Wednesday, for the first time in memory, they were completely booked for a photo shoot the next day. I really needed a shoot, so I went through my email trash to find the latest solicitation….and Insight Photos had availability.
Don, the owner, met me at the house, and we struck up a conversation.
His team of five photographers was booked for 19 photo shoots yesterday, which wasn’t his record – they set their record last Tuesday when they had 22 photo shoots! He said his monthly volume has been up +30% each month since December!
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Check out our new listing in Avaron (The Crosby-ish!)
15608 Rising River Pl. N, San Diego 92127
5 br/4.5 ba + office, 4,553sf
Lot size = 18,495sf (0.43-acre)
LP = $3,450,000
Open house Saturday March 22nd 12-2pm
Are you looking for an entertainer’s paradise, inside and out? This premier semi-custom estate on a quiet culdesac features 5 bedrooms (including a large en-suite downstairs perfect for MULTI-GEN) with 4.5 baths plus a detached casita for office or yoga retreat! Upgrades include plaster-wall treatments, hardwoods, classy quartzite kitchen counters, 48″ Sub-Zero, two Miele dishwashers, and huge walk-in pantry! Given its expansive lot size, there’s plenty of room for outdoor activities, and the layout is well-suited for hosting gatherings or enjoying some peaceful time outdoors. Award-winning schools are right around the corner too, highlighted by Del Sur Elementary, Design39, and Del Norte HS High School. Located in guard-gated Avaron, a community of 59 homes built in 2006 by renowned builder Standard Pacific. At $757/sf, it’s one of the best buys behind a gate in the whole 92127!
Watch this video of “Give Me Love (Give Me Peace on Earth)” by George Harrison.
Will there be a point when the unsolds start affecting the buyer enthusiasm? Will the unsolds impact the ability of the hot new listings to fetch top dollar? Or will all listings be affected, like in the photo above?
Buyers are finding it easier to forget all about the unsolds, and they won’t be coming back to lowball them later….at least not until the end of the year.
Will sellers lower their price? Today, sellers are thinking, “Hey, it’s only March, it will get better, later!”
At this rate, the percentage of stale listings will be into the 80s by the end of the month.
Everyone is waiting for “the market to pick up”, but it might be a long wait – longer than usual, and it might not happen at all.
Go all in – try to sell in the first two weeks when urgency is there!
Which sellers might have more luck getting lucky later?
If you have an older 1970s or 1980s two-story tract house to sell, then your chances of selling are lower, and you might have to ‘give it away’ – unless you go heavy on the recent improvements!
Generally speaking, each of the 2025 quartiles is lower today than they were last year, and the median list price is down to $4,000,000 – which is 11% lower than it was at the start of the year.
It’s because the lower end has been cooking, and the higher-end not so much.
There have been 309 homes sell or go pending since January 1st that were priced under $4,000,000, and only 69 homes priced above $4,000,000 have found a buyer.
Who cares – find the right house for you, and make the best deal you can.
NSDCC Number of Active Listings by Price Range
0 – $2,000,000: 52
$2,000,000 – $4,000,000: 156
$4,000,000 – $6,000,000: 87
$6,000,000 – $8,000,000: 39
$8,000,000 – $10,000,000: 24
$10,000,000 and up: 58
This is an area (La Jolla to Carlsbad) where the median sales price in 2024 was $2,400,000.
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One year after the National Association of Realtors agreed, as part of a legal settlement, to change a key rule on real estate commissions — a rule that had long upheld a tradition of commissions between 5 and 6 percent, little has changed.
What was hailed as a watershed has so far produced a mere drizzle.
Some economists predicted the rule change would upend the business model and bring competition to a long-stilted marketplace, breaking the standard 6 percent rate — one of the highest rates in the world — and forcing down home prices as a result.
Though average commissions appear to be slipping, industry watchdogs say that Realtors and their brokerages have used workarounds and pressure on sellers like Mr. Chambers to subvert the settlement. So far, they’re finding success.
“The industry understood the threat to 5 or 6 percent rates right away, so looked for opportunities to discourage negotiation,” said Stephen Brobeck, a senior fellow at the Washington, D.C.-based Consumer Policy Center, who has been vocal about the need for greater consumer awareness in the real estate industry.
Read full article here:
Link to article
The climb in the number of active listings between La Jolla and Carlsbad took a break and only rose by two. Here’s how the actives and pendings compare to the last two years in mid-March:
NSDCC Actives and Pendings, Mid-March
The 25% YoY increase in the number of actives doesn’t seem to bother the buyers!
All that matters is what will the sellers do who are left out of the party? Will they bang the door down with a big price reduction?
Or pack it up and wait for the market to ‘pick up’?
