The short answer seems to be YES! As crazy as it sounds, prices keep on rising in many communities throughout San Diego, which is creating an urgency in buyers to secure their dream home or risk paying more for that same house a few months down the road.
To add to that, we have a good portion of sellers who are also buyers… sellers who want to upgrade or downsize. This adds another layer of buyers to the market and reduces the amount of inventory. Now this is all speculation and what we are seeing first hand, however here are some stats to back this up:
We have seen Closed Sales decease 15.8%, and the Average Sales Price for detached homes increase 2.4% to $687,775, yet our inventory level has still decreased 11.9 %. So what does that tell us…? Well not much until you see this stat, our average days on market decreased 11.2%. What does this mean for us… too many buyers, not enough homes!
Author:Joseph Arendsen Phone: 760-672-0174 Dated: September 2nd 2016 Views: 256 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 instrumental in finding me a property that fit specific requirements. He negotiated in my favor and wound up with a real gem below appraised value. He was attentive and definitely concerned about my interests. I highly recommend using him."