As we come to the end of the second quarter of 2015, a large amount of new listings are expected in most parts of the U.S. however us San Diegan's have not seen or felt that. We have had inventory levels drop and because of that we have seen prices jump.
The Average Sales Price was up 6.3% to $520,000 for Single family homes and 4.3% to $344,250 for Single Family Attached properties. Days on Market (DOM) decreased a huge 12.8% for Detached homes and 7.3% for Attached properties. Supply decreased over 13%.
Rental prices continue to shock us all with accelerated prices, which may cause some to think before locking into a 12-month lease. Mortgage rates being so low should also have a huge effect on the number of buyers who will become homeowners this year. All great signs for a strong real estate market!
Joseph's Recommendations for: Buyers - Be prepared for low inventory. It does not mean you can't find a good deal, you just need to look a little harder and be prepared to jump when the right property does come on the market. Also make sure to have an agent working for you that is as aggressive as you are! Now get out there and get it! Sellers - Simply put, the market is hot and if you are thinking about selling, now would be a great time! If you would like to know the value of your home give me a call, I think you would be surprised to know how much it is worth!
Author:Joseph Arendsen Phone: 760-672-0174 Dated: May 20th 2015 Views: 773 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
"We used Joseph Arendsen to help us locate a home. That turned out to be a great decision. Mr. Arendsen helped us to locate and buy the home, when the competition was stiff, and negotiated a good sales price. Throughout the process he was a strong advocate and we received many concessions from the seller that we did not expect. Mr. Arendsen was very knowledgeble and was able to recommend a good broker, inspectors, termite inspection, etc. We would not hesitate to use him again."