Real Estate Market Update

Real Estate Market Update

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The beautiful weather, gorgeous beaches, casual lifestyle, and thrilling attractions make San Diego a popular destination for both locals and transients. Because of this reputation, San Diego is also known for its in-demand housing market. Home inventory is at its lowest right now which means prices are going up. Recent data suggests that homes are staying on the market for 45 days or less. With San Diego being a seller’s market, a big challenge for real estate agents has been finding a place for sellers to go once their home has sold. If you are entertaining the idea of selling or buying a home in the San Diego area, having a partner to assist you in the process and provide you with valuable knowledge of the community is a must have.

Finding the right real estate agent is the first, and most important, step. Rich Johnson, owner of Windermere Homes & Estates, explains, “When it comes to choosing a broker, the agents you are interviewing need to explain their qualifications, including how good they are at negotiations, and their experience in the local market. They must know the neighborhood.” He also suggests that you talk about their level of detail when
it comes to marketing, and ask what systems are in place to market the home, such as
social media, open houses, and advertising.

Once you have picked an agent you are comfortable with, walk through your house with them. The agent can make suggestions for improvements that you may have missed on your own. If the home is unfurnished, you should most definitely stage the home before you list it because staged homes tend to sell for higher prices.

With the San Diego area, and Rancho Bernardo in particular, being a rapidly growing locale, Rich states, “A healthy market has an average of 6 months of inventory. Rancho Bernardo has a little over 2 months. This means it is a strong seller’s market.” The 92127 zip code (west of I-15), has about 2.3 months of inventory in mostly new construction developments. East of I-15 in zip code 92128, there is a lack of supply for both
attached and detached housing, leaving the market with about 2.1 months of inventory.
“These are moving at an incredible rate, which is raising demand and prices.”

Windermere Homes & Estates not only provides the highest level of integrity to the housing industry, but also brings decades of knowledge and sharp attention to detail. Their well-trained agents are focused on integrity and understand the marketplace, and know that buying or selling a home is an experience, not a mere transaction.

Written By Jill Marber