I’m back. And just in case you don’t believe it is really me (or as spellcheck likes to say, “really I”), I will try to throw in a few typos as proof.
Ignore the title of this post. This isn’t really about the royal baby. That was just, as they say in journalism, a “lede” to suck you back into the vortex of my neglected little blog. If you are one of those wacky royal watchers, however, rest assured you don’t have to go rushing out of here lest you miss the news of the big birth. Kate, being royal and all, was whisked off to the hospital at her first signs of slight discomfort. She could be there for days. On the other hand, when I, a commoner, was in labor, my doctor told me to stay home and practice my breathing for about 22 hours. He didn’t want to hear from me again, he scolded, until the baby crowned.
Since my last two posts – in April and February (insert sad face) – touched on our little local pricing run up and dearth of inventory, I thought it would be fitting to celebrate my coming home party by picking up where we left off.
Back on February 25th, I noted that Scripps Ranch (Zip code 92131) had a dismal active inventory of 33 detached homes and 8 attached homes. Fast-forward to today, and Scripps has 74 detached and 25 attached homes offered for sale. Doing some quick mental math, that’s, like, way more houses for sale. What gives?
Well, summer gives, for sure. But the sudden spike in offerings is arguably more a result of those rising prices. As a case in point, we are seeing an unusually higher percentage of tenant-occupied listings. Sellers who, unable to get what they considered to be a palatable price a year or two ago, made good on their threats to “just rent it.” Suddenly, selling makes a little more sense.
Hat tip to the Movoto Blog for giving me permission to reprint their June year-over-year housing performance statistics for West Coast cities. Note that San Diego had a slight inventory increase of 3.6% but a whopping 20.8% increase in list price per square foot. And since the sale price to list price ratio for San Diego County sales in the past 60 days is 99% (Sandicor MLS), sale prices are following suit.
Tada! I finished a blog post. That didn’t hurt at all. I might make this a weekly habit.