March 2016 San Diego Real Estate Update

March 2016 San Diego Real Estate Update

Some rising concerns across the board to sustain a balanced market! Image title

Yes I said it… but I'm not talking about the market slowing down, I am actually talking about home prices continuing to increase! For the 12-month period spanning March 2015 through February 2016, Pending Sales in San Diego County were up 10.0% overall. The price range with the largest gain in sales was the $500,001 to $750,000 range, where they increased 23.1%.
The overall Median Sales Price was up 5.6% to $469,000. The property type with
the largest price gain was the Single-Family Homes segment, where prices increased
6.2% to $530,000. Market-wide, inventory levels were down -18.8%.

With this much demand and the fact that interest rates dropped to the lowest point they have been in over 1 year, I am expecting to see prices continue to climb until we see inventory levels increase.

With that all said, if you need assistance selling or buying, please contact us. We are here to help! 888-503-3117

Joseph Arendsen Headshot
Phone: 760-672-0174
Dated: March 21st 2016
Views: 711
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

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