June 2017 Real Estate Update

June 2017 Real Estate Update


The Battle Continues... the Inventory Battle that is!


Throughout most of the County, we continue to battle an inventory shortage issue which is causing home values to significantly increase. This condition has lead many people to believe that we must be in some type of market bubble; however, the problem with this logic is that there are no valid indications of the market slowing down. Quite the opposite. We live in a market now without subprime mortgages, $0 down loans, or no stated income loans - lenders have MUCH stricter qualifications that serve as a market safeguard during a rising sales spike. Now, if we apply the law of averages, we can predict that things will eventually slow down, but so long as inventory stays this low, all signs confirm that this competitive sales market is here to stay.


Here are the numbers I am referring to...

June 2017 San Diego Real Estate Update






Closed sales have decreased -4.3% from this time last year, even worse is the current amount of inventory is down to -25.2% !!! With such minimal levels of inventory, of course the Median sales price has increased to 8% compared to this time last year, and caused the average days on market to decrease 31.2%.



Article from San Diego Real Estate Today


Joseph Arendsen Headshot
Author:
Phone: 760-672-0174
Dated: June 8th 2017
Views: 79
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

November 2017 Buyer Seller Advice - Buyers Advice: Stay active
November 2017 Real Estate Update - Who Said the Market Slows Down
Buyer Seller Advice October 2017 - Buyers Advice: Don't believe
October 2017 Real Estate Update - That's it... I Need to Set

Our Bloggers

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

The Arendsen Group
655 West Broadway, Suite 1650
San Diego, CA
760-978-6387
888-503-3117

Other Locations