Tears or Cheers for San Diego Real Estate?

My Most Asked Question in 2019: How is the Real Estate Market in San Diego?

I’ll answer that in a second, but for now take a look at the below stats for January 2019!

Jan 2019 Median Sales Price For Detached Homes(aka Houses!) = $630,000

(up 3.3% for 2018)

Jan 2019 Median Sales Price For Attached Homes(aka Condos & Townhomes!) = $417,750 

(up 3.1% for 2018)

Inventory of Detached(Houses for Sale) a 30.3%incease from last year

Inventory of Attached(Condos/Townhomes for Sale) a 56.7% increase from last year

So how is the real estate market?

It’s great, because my business partner and I only work with four property sellers and buyers at a time. This way we give you our full attention and the absolute best service.

But how is the real estate market for property sellers and buyers?

For Sellers… It is still a good time to sell…why?

Three words… Still Low Inventory! 4,074 houses for sale in Jan… still significantly low!

For Buyers…March usually has more opportunity for buyers than early summer. Here are the Top 3 Reasons Why:

1. Because of slower markets over the holidays, there are many price reductions.
2. Following the holiday months of Nov. and Dec., it is Jan.- Feb. that are the second slowest months for real estate
3. Average market times for property is 43 days, 20% higher than last month, so sellers are more motivated, so earlier in the year= A GREAT TIME TO BUY!!!!!

…but what about the market correction?

If you know you’ll definitely be selling in 2-3 years, then don’t buy. There will be a market correction!