Steve recently wrote:
Since Kris always seems to steal my best and most creative post ideas (without giving me credit) I am, again, left only with the dry statistics to present to you. Please know that for next month I plan to add some fun and pizazz to this otherwise very rote, but important exercise.
First of all, blasphemy! Secondly, I know a call to arms when I see it. So this morning, with the help of our friends at Altos Research, I am out to steal his thunder. Here are your current Scripps Ranch real estate market trends.
This is the 90-day rolling average for single-family detached homes in Scripps Ranch, San Diego (92131).
This 90-day rolling average of median price per square foot is similar to the overall median.
The last down blip is questionable but, ignoring that, the chart is right-on. This is the 7-day rolling average, and this morning our Scripps Ranch inventory sits at 110 homes for sale (detached).
Again, the seven day rolling average, and market times are climbing in late Spring, somewhat of a seasonal anomaly.
If I could figure out why I keep getting an error message on the market action index chart, I would post that too. The market action index, which measures demand relative to supply, suggests we are still in a “warm seller’s market” (by the skin of our teeth). For now, you will have to take my word for it.
And, now for a final bit of “pizazz”:
So, take that, Steve!
{ 3 comments… read them below or add one }
dommidge
07.03.07 at 3:47 pm
Those stats certainly have curiosity value. Those altos folks are very clever. I wonder whether such a small sample has any significance beyond that curiosity value? It seems to be very ‘noisy’ data to me.
p.s. I saw you skipped the altos days on market graph. Any particular reason?
I have a question re: DOM on altos. Do you think that figure is harvested from houses when they sell (DOM of closed sales), or is it average DOM from all properties in MLS.
dommidge
07.03.07 at 3:52 pm
oops, i must be blind not to have seen it. sorry!
Kris Berg
07.03.07 at 5:14 pm
Yeah, dommidge. I am working to correct whatever haunts their SD data. I have been meaning to post on this (a little too busy this week), but what I love is the presentation - The data is clearly not reliable at this point. The Altos dudes say is may be something to do with the prevalence of value ranges in SD, but I think the problem runs deeper, since the inventory numbers are whack as well.
Give me a little time, and I’ll figure out just what all this “great” data means, and the specific source. Your DOM question, for instance, is a good one. I was assuming it was until sold, but who really knows?