October 2015 Real Estate Update

October 2015 Real Estate Update

All right folks, October is at an end and the third quarter is off to a good start. With promising economic news coming from many angles, including our unemployment rate improving and earnings increasing, there are no immediate factors that should get in the way of the healthiest real estate market we have seen in the past 15 years. Of course, we are going to see a slight annual decline in the numbers of sales going into the holidays. The only other bad news to consider in the near future would be increased interest rates, which will most likely come in the beginning of 2016.

“Healthiest San Diego Real Estate Market in 15 Years?” “That can’t be right!” Well, here are some stats to back up my statement”.

First off, the Median Sales Price compared to this time last year is up 3.3%, and Days on market has decreased a whopping 19.3%. With a demand that high for properties, we saw the number of homes for sale decrease 23.3%. This is phenomenal, except that this stat could be inflated slightly due to the amount of homeowners not willing to sell their properties with the holidays right around the corner. The only stat that wasn't positive was the number of Closed Sales, which decreased 4.4%. Mind you, I believe this is due to the lack of inventory. All in all, everything points to a Healthy Market!

Joseph Arendsen Headshot
Phone: 760-672-0174
Dated: October 23rd 2015
Views: 401
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

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