What’s going on with the real estate market? Is it hot, is it not?
Well, now that we have 7 months of statistics in the books for 2016 it seems like a great time to do a review and see what's really going on. Here is how it breaks down:
The inventory level has matched the same statistics that we saw last year in 2015, however Closed Sales have decreased 3.9%. Yet even with the decrease in sales our Average Sales Price has increased 5.5%.... How is that possible? Well, statistics don't show this but having been involved in the market every single day, I believe we have a logical answer for this. We are seeing an increase in demand for properly priced homes that show well. Meaning, we don't have enough sellers selling properties that are in good / move-in condition. And the properties that are in good condition are selling for higher amounts and increasing our average sales prices.
What does this mean for buyers and seller? (Answered below in our buyers and seller advice)
Author:Joseph Arendsen Phone: 760-672-0174 Dated: August 3rd 2016 Views: 63 About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...
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Having been raised in San Diego, Joseph has a great wealth of knowledge of each community San Diego has to offer. Combined with being extremely hard working, having a great attention to detail, and having the ability to listen Josephs clients receive an elite level of service.
Who Said the Market Slows Down During the Holidays???With the holidays
"Joseph was an Amazing real estate agent and my husband and I had a positive experience . We we're in a time crunch for our move in date he was able to meet the deadline. He's organized and is always on the ball . Also, he was able to share his background experience with flipping houses. I found this most valuable when walking through a house and getting ideas from him and possible costs of projects . This is the first of hopefully many homes we purchase in the area and we would utilize him again ."