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February San Diego Real Estate Update 2017

 

Real estate professionals across the nation are as busy as ever!

Everybody in the Real Estate industry is saying the same thing, “the market is hot!” This is what we are hearing around town and it’s also what we are hearing nationwide.

We have very low inventory levels in San Diego County right now, when you combine that with a lot of buyers entering the market we are going to have a supply and demand issue and most likely see prices continue to climb. One other factor that could be driving buyers into the market is the fact that the Fed has released statements promising to raise interest rates. This is alarming for buyers because if interest rates jump another 0.5% this could push them into a payment they don’t feel comfortable with. However even if rates jump to 5% nobody expects this to affect our market in a negative way. This simply shows that we are in a strong economy and there is confidence in the real estate market.

 

Now it’s time to look at the numbers.

Closed Sales were down 15.8% compared to this time last year, however Pending Sales were UP 12.3% . We believe this is from the lack of inventory and buyer activity we had last year in December. THe good news for sellers is that days on Market was down 6.5%, and the Median Sales Price was up 7.6% to $572,190 for Detached homes and 4.3% for Attached homes. Overall outlook looks promising for the real estate market. Onward and upward!

 

BUYERS ADVICE

With the limited amount of inventory on the market buyers must be aggressive and active when searching for a home. Remember to hire a Realtor, get all your ducks in a row (Pre-approved), and actively look daily. Keep up the good work, the right opportunity will come! Find Your Home Today.. ​​​​​​​​

 

SELLERS ADVICE

The ball remains in your court. Continued low inventory keeps bringing multiple offer situations. Now is the best time to set a new record sales price for your neighborhood!

Find out how much your home is worth! Click Here

 

  1. 2 beds, 2 full, 1 half baths
    Home size: 1,279 sq ft
  2. 2 beds, 2 full baths
    Home size: 1,063 sq ft
  3. 3 beds, 2 full baths
    Home size: 1,232 sq ft
    Lot size: 3,999 sqft
  4. 2 beds, 2 full, 1 half baths
    Home size: 1,348 sq ft
    Lot size: 1,306 sqft
  5. 3 beds, 2 full baths
    Home size: 1,134 sq ft
    Lot size: 7,499 sqft
  6. 5 beds, 3 full baths
    Home size: 2,465 sq ft
    Lot size: 24,829 sqft
  7. 3 beds, 2 full baths
    Home size: 958 sq ft

See all City of San Diego Real Estate.
(all data current as of 4/26/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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