Coastal San Diego Inventory and Sales Activity

As we head into Fall, 2008.....the most important factor noted in the high end and central coastal housing market is our rising inventory levels.

What I have noticed lately is that the coastal market activity for homes has slowed in the past few months, but the rest of the market throughout San Diego has seen increased sales due to the amount of bank owned foreclosed homes and condos selling in those neighborhoods.

Here are current active and pending numbers for La Jolla, Del Mar and Rancho Santa Fe:

La Jolla, 92037: 243 Actively listed homes and 23 currently in escrow

Del Mar 92014: 131 Actively listed homes and just 13 in escrow

Rancho Santa Fe 92067: 271 Actively listed homes but just 22 in escrow

So yes, the coastal area and high end market is slowing down some, but prices are not necessarily dropping yet here. However with the lower absorption rate, I am led to believe prices may come down some in the next 4-6 months because of it.