Found 26 blog entries about Market Statistics .
Summer is almost here! The real estate market in San Diego is hot hot hot. We remain in a strongly sellers' market, with average days on market the LOWEST as it has been in years. Our average sales price is officially above what it was right before the market crashed in 2008. I get asked often if I see a housing recession coming. I do believe we are due for a correction, but I do not think demand and prices will fall nearly as hard as they did the last time around. Buyers are still doing well in this market if they write extremely competitive offers and keep their heads up!
Let's take a look at the April market! Sales price continues to rise, with days on market staying low. There is SO MUCH buyer demand in San Diego right now. As we approach the spring and summer real estate market, I predict that prices will continue to rise, unless we see a sizable jump in interest rates!
Welcome, spring! We are entering the busy season of real estate. In March, the average sale price dipped just a bit. There was a large uptick in "sold" properties, which makes sense because the market is slow in January and February as we exit the holiday season. The main story in San Diego remains the LACK of inventory. Inventory remains extremely low, and sellers seem hesitant to get their homes on the market despite this being the best opportunity for sellers in recent history. Certainly an interesting time in the market!
The inventory is still SO LOW in San Diego! This means multiple offers on almost every property, which can drive the purchase price up. The average sales price went up this month after going down last month. For the first time in years, the San Diego inventory dropped below 5,000 homes on the market. If you are thinking of selling, now is your time!!
As we begin 2017, I want to kick off the new year with a quick market analysis. I want to talk about only one thing--INVENTORY. San Diego's inventory is so incredibly low right now. We currently have under 5,000 properties for sale. At this time last year, there were almost 7,000! What this means is that most properties are generating multiple offers, because the same buyer pool is still looking to buy. I believe that after the election, many people are holding off on selling and seeing which way the market will trend. This hesitation has caused a massive inventory shortage that all buyers are feeling as they go out and shop for homes.…
I read an interesting article this morning about an upcoming recession in the real estate market, or rather, how experts aren't forecasting one in San Diego. Often compared to a baseball game, one expert compared the San Diego regrowth period as a "doubleheader." What he means by this is that our slow but steady growth may continue on as it has been, rather than peaking and starting to fall. As interest rates creep up, watch for a slow down in the rise of home prices, but we are not looking at a large fall in the immediate future.
It's the most wonderful time of the year! Let's take a look at the November market. Sales price held steady this month. The number of new listings took a big dip, typical of the holiday season. Market time stayed quite flat, going from 39 days to 38 days. The interest rates rose this month, so we'll take a look next month to see how the higher rates have impacted our market!
The average sales price in San Diego rose this month. The number of days a property is on the market (on average) stayed flat. We are seeing a drop off in the number of active listings, which is typical as we approach the holidays. The percentage of sales price that a property achieves is declining; at its peak, we were around 98%, and are now closer to 96.5%. Interest rates have started to creep up, so if you are thinking about buying, now is the time!