We’re more than a month into 2020, and our San Diego County real estate market is still very strong.
From February 2019 to this past January, pending sales rose by 5.3%, and the price range with the largest gain in sales was from $1 million to $1.5 million (a 15% bump).
During that same time, the median sales price rose 2.6% to $585,000. Any properties listed below the $500,000 mark usually only lasted a maximum of three weeks on the market, while luxury properties listed over the $5-million mark lasted 100 days on the market, on average.
Both of these numbers indicate that buyers are looking for homes and ready to move on properties that are priced correctly. Inventory, meanwhile, has dropped by 38%, and we only have a 1.4-month supply for single-family homes.
What does this mean for you? You’re not a statistic, and I want to help you reach your personal goals. When it comes to real estate, who you work with matters 110%, so if you’re looking for someone with an investor mindset who’ll help you get the best deal possible, give me a call.
As always, if you have any other questions, feel free to reach out to me as well. I’d love to help you.