I’m shuffling off to show property this morning but, before I do, it seemed timely to share the CliffsNotes on the home buying activity we are seeing in Scripps Ranch. I predicted that we might see some declining sales numbers as we move past the longest day of the year. Maybe I was wrong. Or maybe my prediction was just premature.
This is the trendline for homes “under contract” (in escrow) in Scripps Ranch for the past year. The data is for both attached and detached homes. Seems to me that low inventory is not enough to keep a motivated buyer down. Homes in our little community continue to sell in an average of approximately 50 days, and the well-priced, well-prepared and marketed homes seem to be flying off the shelf.
This morning we only have 62 true active detached listings in Scripps Ranch (discounting the homes in “contingent” status awaiting lender approval of an offer), this for a community of approximately 8,000 detached homes. Good grief! We also have 60 detached homes tucked into escrow at the moment. Assuming that most stick, July may beat the May and June sales numbers yet. Seller pricing has gotten more realistic, and I believe this to be the biggest factor in the buying wind sprints we are seeing. And it doesn’t apply to just Scripps; I am seeing it up and down the I-15 corridor and in Sorrento Mesa where we have buyers currently desperately seeking homes.
So, now, I’m off to try to find something to show my buyer client this morning. Pray for me.