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The Secret’s in the Sale

We certainly have some interesting times seen in our local markets here in San Diego County. What we’re seeing is an odd disconnect between what’s recorded in our monthly housing stat report and what we real estate professionals are seeing on the ground, working day-to-day in our local market. We dove deep into this month’s market report to find the secret to this mystery – here’s what we found…

First statistic I’d like to bring attention to is our closed sales this month is DOWN 15% compared to last year .. that’s a significant drop! Now, sales are down.. and the number of homes for sale is actually UP! So we have less homes closed, but more inventory. Now usually this results in prices going down.. however, instead we actually have a 6.3% increase in value (home prices) in closed sales from this month.

Scratching your head over that one? Yup, we did too.. but we dove deep and here’s what we found:

We see that yes, we have more inventory, however we’re seeing more homes coming on market that aren’t showing well and are overpriced .. So what we have are these homeowners who see the housing market doing great, so they say, “hey, market’s great – let’s go ahead and list our property.. let’s sell our home”.. But they’re not taking the proper steps to sell their homes for the best results – their homes aren’t being prepped for market properly. These listings aren’t showing well. Some homes aren’t priced at fair market value either – they’re overpriced, they’re not showing well… so naturally, we’re seeing this population of listings sit longer on market.

Then in contrast, we’re seeing the sellers ( “smart sellers” ) who are taking into account the condition of their property, making it look good …they’re hiring professional realtors to help prep their homes properly for market, having them come in and help prep, PRICE and market their home properly. Sure enough, these sellers are having more success with their homes on market than these other poorly prepped, overpriced homes – more closings & quicker sales with these “smart seller” listings. So despite more inventory, not all listings are equal.. however those “smartly” listed are selling with more success & faster, resulting in our increase in home prices seen still in San Diego county.

Here’s the stats from this month:

Buyers Advice: 

So on the BUY side, BE CAREFUL. Make sure you do your proper research!
Even if there’s no comps in the neighborhood, make sure you have your realtor to run comps for those homes you’re interested in. You want to make sure these homes are actually priced at fair market value, and seeing as several homes on market today are overpriced, make sure your realtor helps determine if in fact you are getting a fair price when you buy your new home.

Contact us today!

Sellers Advice: ​​​​​​​

On the SELL side, take the time to meet with your realtor – make sure your listing agent really works to sell your home properly. Have them really guide you through this process – have them tell you what you need to do for staging, painting, PRICE..and then the proper marketing plan for your home sale. Note: we ARE still seeing a high demand for these types homes on market – sellers: if you prepare your home for market, you WILL be able to sell with great success! Maybe sell for more than your neighbor did, or get a great listing agent and you could even max out what your neighborhood can sell for.. the secret’s in the sale!

[ Find out about our Hands Free Selling System… ]

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