Real Estate Watch – Deanne Motsenbocker – Portfolio Real Estate
And the Heat Goes On!
It is often said that real estate is local. We all know San Diego is different than other parts of California. We also know there are “hot pockets” here in San Diego County. So as we roll into what is typically the “hottest” time of the year for real estate, let’s take a look at the temperature of the RSF market compared to San Diego County as a whole – it’s a very interesting thermometer. Remember, when looking at real estate data in Rancho Santa Fe, we are talking about a much higher price point than San Diego County as a whole. Correspondingly, we are comparing a much smaller number of sales in RSF.
“Sold” listings show us where the market has been. “Pending Sales” shows us where the market is headed. In San Diego County the price range with the greatest increase in pending sales from May 2014 through April 2015 were homes priced $1,250,000 and above (a 17.4% increase). That’s good news for the luxury market!
But here’s where it gets interesting for 92067: if you compare last April with this April you will see that pending sales are down 29.6%. But if you compare 2014 with 2015 year-to-date pending sales the thermometer changes! Pending sales are up 26.6% year-to-date. We’ve had a pretty active year so far, but not a gangbuster April in RSF. We could be headed for a fever – or chills. Stay tuned to my market watch – the summer will be interesting!
The luxury market is special. Rancho Santa Fe is unique. Rancho Santa Fe is a lifestyle. It is important to know the numbers but it is also important to know what is motivating the buyers and the sellers. Your agent needs to understand both stats and psychographics.
I’ve sold luxury properties in both northern and southern California for over 10 years and have degrees in both marketing and psychology as well as numerous real estate designations. So remember if you want to “Get the MOST, call MOTS!” That’s me – Deanne Motsenbocker at 858-444-MOTS (6687).