The San Diego real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the San Diego area click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 619.977.8364.
The San Diego market is doing great right now. We currently have 8,500 homes for sale in our area, which is way up from the historic low of 4,500 homes we saw about 18 months ago. While the market is recovering, we're not quite back to where we were before the downturn - we usually see around 12,000 homes for sale during this time in San Diego. While this has resulted in slightly longer listing times, we still have one of the top 12 fastest moving markets in the nation, with the average listing selling in under 2 months.
In the recent past, our market was driven by investors buying up properties all over town. Luckily, the market has shifted for the better - many first-time buyers and move-up buyers are making moves due to historically low interest rates, which are sitting between 3%-4%. This is a sign our market is trending toward normal conditions.
A fun fact we came across recently is the price difference between homes owned by Democrats and those owned by Republicans. Trulia reports that the average price per square foot in Democrat households is $227, while Republican households are priced at $119 per square foot. This may indicate Democrats will start leaning toward loosening lending standards to support those prices. I guess we'll just have to wait and see.
Thanks for stopping by our blog. If you have any questions about our market here in San Diego, don't hesitate to shoot us an email or give us a call. We would love to assist you with all your real estate needs!
