Search All San Diego Foreclosures

November San Diego Real Estate Update 2016

Are Millennials driving today’s housing demand?

All signs point to YES! With 42% of all homes sold by Millennials, I think it’s sdar-november-2016-mkt-overviewsafe to say they are a huge factor to this thriving housing market. Millennials are all grown up and ready to embark on their home-buying journey, which in turn is making their parents, a.k.a. “empty-nesters” realize, it might be the time to downsize. I believe both of these factors combined with low interest rates are causing this strong housing demand. Here are some numbers to back that up:

Pending Sales increased 17.6% for Detached homes and 15.4% for Attached homes. Which in turn caused inventory for Detached homes to decrease 12.4%, and a staggering 28.7% for Attached homes. With this huge decrease in homes for sale you can guess what happens next.

yes prices have gone up! The Median Sales Price is up 8.6% for Detached homes, and 10.3% for Attached properties year over year. Yes you heard me right, over 10% increase in values for most Attached Homes. The best part about it, there are no signs of this slowing down going into next year.

BUYERS ADVICE

If you’re wondering why there are very few houses on the market, know that it is only going to get worse going into the Holidays. We usually see a slight slow down through November however come December we will see even less homes come to market. However we also see a lot of buyers stop their search during the Holidays so that means potentially less competition for you! See if there are any homes available in the area you are looking for Click Here 

SELLERS ADVICE

We keep hearing from our clients that they have been told that the market is slow during this time of the year. All I have to say is look at the numbers, the numbers never lie! Pending Sales have went through the roof and inventory levels are down, those numbers tell us it’s a perfect time to sell. Want to know the value of your home? Find out for free 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.

Share and Enjoy:
  • Print
  • Digg
  • StumbleUpon
  • del.icio.us
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
Be Sociable, Share!

    RSS Feed

    <<

    >>

    Web Design and Seo Services