Home Listings And Prices in La Costa, CA For August 2018
Real estate market data for la Costa, CA provided by Rob Denny of Home Smart Realty West
La Costa Home Prices
This La Costa, California listings and home market report is for all of zip code 92009. If you would like to search La Costa homes broke down by price, please scroll down to the bottom of the page. I do not include any Manufactured homes or multi-unit homes in any of my housing reports. if you are looking for these, please email or call me and I would be happy to put a report together for you.
Detached single family homes
This month’s La Costa, California listings and home market report shows a bounce back from what has been a little bit of a down year. All numbers that you want to have a + sign next to them do, even if new listings are only +8.8, and closed +6.8, pending saw a nice jump to +14.3. Considering these three have all been in the negative all year (slightly), anything on the plus side is good to see. Of course, the main one, as always, is prices and the average prices continue to stay slightly above the previous year as they have all year long. Days On Market (DOM) stayed close to identical as it has all year too. Considering attached La Costa homes have been taking a decent hit this year (see below), it’s nice to see Detached sales stay close and have some numbers in the positive. There are currently 137 active listings for sale in La Costa.
This month’s La Costa, California listings and home market report for attached homes shows some not so impressive numbers (at least if your selling. Buyers, there are some deals to be had!) The bottom line is La Costa had a lousy August compared to 2017. New listings dropped from 33 to 27 which isn’t really that big of a deal but pending sales dropping 44.8% and closed sales dropping 43.8% can’t be sugar-coated. DOM increasing two weeks isn’t a huge deal but the fact there is a 15-day increase I would have expected prices to stay in the positive instead of taking a dip this month. The reason I say that is usually homes that come on the market overpriced will have longer DOM but closing prices remained close to listing price at 96.7% of list price. It could just be one of those mot=nths, we’ll have to wait and see how September sales turn out.
La Costa, California Listings And Home Market Report Report Summary
The La Costa market continues to see lots of volume. It’s good to see detached have a bump after a quite few months. What I think will be interesting is if interest rates continue to bump up as predicted. Last week they hit a seven-year high at 4.71%. Will this make people sitting on the fence jump into the market due to fear of rates rising? Time will tell, but each time interest rates go up, buyers qualify for less of a house. I will be watching to see if mortgage loan applications continue to go down. If so, this could turn from a seller to a buyer market. While this won’t happen overnight especially with sold prices staying up around 98% of listing price.
Median Sale Price vs Average Sale Price explained
Median sale price literally takes the middle number of total homes sold for an area. For example, say 16 homes sold. You would take home number 8 which sold for $200,000 and home 9 which sold for $100,000. You would add these two numbers together which equals $300,000 then divide by 2 which equals $150,000. In this scenario, the Median homes sales price is $150,000.
Average sale price takes total $$$ sold amount divided by the number of homes sold. For example, if 2 homes sold for $500,000 the average would be $250,000.
La Costa Neighborhood Market Report Breakdown
Click on a price range to be taken to the latest La Costa, California listings and home market report for that particular neighborhood.
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