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: 794 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.
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"Joseph with the Arendsend Group was the Agent that helped us to buy our first home and we could not have been happier with the experience. He is incredibly knowledgeable about the industry. He was able to take the time to hear what our wants and needs were as well as give us insight on things that could be beneficial to us in the long run. He found us the perfect home for our lifestyle and budget, as well as a great investment for our future.
He made the process very easy and stress free cooridinating the loan as well as the notary. I was most inpressed with how he made himself available whenever we had questions (as I am the type to ask ALOT of questions). The seller of our home wanted to close very quickly and Joseph made it happen working hard to get all of our ducks in a row so that escow would be easy and quick.
I have nothing but good things to say about purchasing my first house. I expected it to be very difficult being a first time buyer, but I couldn't believe how easy it was. Thanks to our Agent.
Joseph also does Property Management, so when the time comes to use the purchase of our home as an income property...there is no one else I would trust to help us put that together.
Great experience! Thank you Joseph and the Arendsen Group!"