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August San Diego Market Update

Don Pelletier

With over 36 years as a professional Realtor, and the 2,200 San Diego home sellers and buyers Don has represented, he has a long-standing tradition an...

With over 36 years as a professional Realtor, and the 2,200 San Diego home sellers and buyers Don has represented, he has a long-standing tradition an...

Sep 1 3 minutes read

Want to know what’s happening here in our local San Diego Real Estate Market? Is now a good time to sell in San Diego?

It can be so confusing with the constant changes in the market to know what the best decision for your family will be. It’s always a good idea to look at the data and what’s happening in the market so that you can make an educated decision.

Is it a good time to sell here in San Diego? Well, let’s look at what is happening in the month of July. We currently, at the time of this video, have 1,926 homes that are active. The average time to sell is only 28 days, with 247 homes selling thus far. So here in San Diego County, we still have relatively low inventory, even though the inventory is up nearly 300 percent, since the all-time lows we were experiencing just a few short months ago, and we also still have relatively strong buyer demand. However, the market is very volatile right now. We are currently seeing more homes on the market than in recent months, and we aren’t seeing as many offers on homes, or offers as quickly, as we were seeing just a few months ago and, homes aren’t being bid up as high and buyers are not willing to remove contingencies as much as they once were.

It’s still a good time to sell because we are just coming off of the all-time historical high, with respect to home prices, and interest rates are expected to continue to go up and that is the reason for the sudden shift in the market. If you’re thinking of selling, now would be a good time before they continue to go up even more because remember, as interest rates increase, buyers have less buying power and will have to purchase a home that is less expensive to make up for the difference in interest rates increasing.  

Whether you want to sell your existing home, buy your first home, upsize, downsize, purchase a vacation home, or just talk about options, a real estate professional is your best source for information based on current trends in our area. If you're interested in learning more about the 2022 real estate forecast, don't hesitate to reach out - we're happy to help

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