With California dominating the country’s 20 hottest real estate markets, an increase in home prices and a flash of buyer activity during May has lead to more than the usual seasonal momentum. San Diego county has seen its fair share of activity, with an ample supply of homes available for interested buyers.
As summer unfolds, the market finds itself feeling the heat. There are now more opportunities for buyers as the listings inventory has grown by 4% over April. Buyers will still need to stay on their toes as this is down compared to last year at this time. Nationally the median list price crept to $228,000 which is up 7% over the previous year due factors such as limited inventory. But homes are turning over fast: Median days on market are now at 66 and continue to trend downward: down 11% year over year and 10% month over month.
If you’re considering purchasing a home, you may want to also read my article on Renting vs. Buying, which includes information on how to decide what is the best fit for you.
If you want to chat more about the housing market and any upcoming changes, please contact me at any time, I am always happy to help!
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.Get Pre-Approved Today