Local Market Watch — J&J Realty

VIRTUAL HOME BUYING PROGRAM 👉 CLICK HERE! 👈


The Rundown:

Some in the industry are predicting a heavy shift toward fewer sales and lower prices but we’re not too sure about that. In San Diego County, inventory of homes has increased but they are still selling relatively fast. Declining sales are not always the best indicator that sales are starting to slow down. Longer market times, in conjunction with rising inventory of homes for sale, are the better indicators of a slow down. The fact remains that the trends do not yet support a dramatic shift away from what has been experienced over the last several years. The housing market is performing well if not excitingly, prices are still inching upward, supply remains low and consumers are optimistic.

 

Bottom Line:

Buyers - Buyers are a lot more educated than in the past decade (we are happy to educate them :) and are eyeing the long game. For most, it all comes down to the monthly payment. If home prices drop a bit but interest rates rise, it’s a wash.

Sellers - Sellers are to enlightened and can see that now is the time to list (especially if downsizing). As the market gets more competitive (good for buyers), having top-notch marketing will come into play.

Investors - Investors too are still finding value in the San Diego market as it’s eight percent increase in a year outpaces the rest of the region, but it is still a cheaper option for coastal California.

 

Interest Rates
 (Source: Bankrate.com as of 9/5/2018)

15-yr Loan - 4.16%
(Up 0.04 from last week)
30-yr Loan - 4.71% 
(Up 0.02 from week)

Looking for a referral to a great lender?  We can help!

 

 

Community Spotlight:

Spotlight: Carlsbad 92010

Single Family
Median Sales Price, $860,000 (+ 14.0%)
Days on Market Until Sale, 30 (+ 87.5%)
New Listings, 23 (+ 9.5%)
Pending Sales, 13 (+ 18.2%)

Townhouse-Condo
Median Sales Price, $584,010 (+ 10.8%)
Days on Market Until Sale, 18 (- 28.0%)
New Listings, 19 (+ 35.7%)
Pending Sales, 2 (- 75.0%)

 

San Diego County Overview:

Single Family
Median Sales Price, $590,000 (+ 8.3%)
Days on Market Until Sale, 28 (+ 3.7%)
New Listings, 4,935 (+ 12.9%)
Pending Sales, 3,038 (- 6.1%)

 

Recently Sold:

SOLD:

  • 6857 Carnation Dr, Carlsbad - $620,000

  • 3754 Mango Drive #115, San Diego - 399,999

Pending:

  • 20282 Elfin Forest Rd Escondido - $1,700,000

New Listings:

Coming Soon:

Coming Soon:

 



Loading ADA Widget...