Local Market Update San Diego
Hello San Diego! Good news!! Home prices are up 12% since February, primarily due to somewhat lower interest rates than we saw mid-last year, coupled with significantly lower-than-average inventory. We are seeing homes sell more quickly and the buyers are more active. We are also experiencing multiple offers, in most cases. Also, as we move into the warmer months of summer, we will begin to see increased activity in the market. Let's look at what's happening in greater San Diego.
At the time of this recording, there were 1,029 active listings, 1,108 pending homes, in escrow, and 1,447 homes that have sold in the past month. Homes sold for an average of $1,207,000 and were on the market for an average of 25 days. So, you can see, with the changing market, it is no surprise to us that homes are selling faster based on the lower amount of inventory.
With the constant shifts, you need an experienced agent to help guide you through your next moves in real estate. I’ve personally successfully sold over 2,200 homes, in 67 different communities throughout greater San Diego. Connect with my team today to get more information, and we can strategize what to do with your home.
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 2023 real estate forecast, don't hesitate to reach out - we're happy to help!