I’m going to talk about how our San Diego real estate market has been. First, I’m going to talk about the entire San Diego County. Then I’m going to talk about Carmel Valley, 92130.
So I looked at the data. In the entire San Diego County, I looked from July 1st all the way to September 30 (last year) there were 4,000 SFH that sold. During the same period this year, only 2,300 SFH were sold. That’s 40% less transactions.
I’m going to give you a little bit more data: Inventory has been up by 63% in the entire San Diego County (every neighborhood is different). Median sales price is down by 5%, and DOM is up by 50%. So, it is taking much longer to sell. Then I looked at Carmel Valley, I compared September of last year versus September of this year to give you more accurate data. Median sales price is down by 2.5%, not bad, and our median sales price is $2.6 million for SFH in Carmel Valley. DOM is up by 42%, so it’s taking longer to sell. Inventory is up by 13%.
So what does this all mean to you? If you are a buyer and you’re not buying right now, you’re not out looking, you’re not making offers, you’re making a very big mistake. Because when spring market comes, and spring market does not come in March, it’s going to come in mid-January, you’re going to be in multiple offer scenarios. You may have to offer over asking price. You’re going to have a huge competition. So, do not listen to anybody who’s telling you wait, because that’s a big mistake you’re making. If you are a seller, you need to price your house aggressively at the market price. Otherwise, it’s not going to sell and has to be in a great condition because you may not be able to get a top dollar if it’s not in great condition.
Ready to make your move in the San Diego market? Don’t wait! Call me at 858.345.0685 for personalized advice. Let’s achieve your real estate goals today!
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Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379
