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: 80 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.
Market Watch: Is "Big Change" on the Horizon??Scary times ahead? Well,
"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."