Good afternoon, fellow San Diegans!
Here is a short market update from you. The following information is just a concise bullet list of market updates. If you would like to see the full report (from Clarus MarketMetrics®), please let me know and I will email it to you!
Based on the last 12 months:
- The median sold home price is up 10%. This means that if you list your house now, you’ll be able to get top dollar for it. We can’t know for sure what the market will do in the short or long term future–but we do believe at some point home prices will stabilize and take a dip.
- The average days on market is down 11%. Translation? Properties are selling fast.
- The average month’s supply of inventory is down 23%.
A lot of people believe in the myth that during the holidays, nothing sells. However, if you’re waiting for Spring to list your house–don’t. The notion that real estate sales stop cold during the holidays is a total myth.
The truth is that real estate is ALWAYS being bought and sold, year around, worldwide. Owning real estate is one of the highest dreams one can hope to realize, and it doesn’t matter what time of year it is. In fact, sometimes the fall and winter months are the best times to buy or sell real estate. This is because sales can move more quickly because serious buyers and sellers go into the market during these months.