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Inventory Trends: What Homeowners in San Diego Should Know
As summer comes to a close, the San Diego real estate market is showing some signs of action. Although home sales might be tapering off, more inventory is hitting the market. This surge offers an exciting opportunity for buyers and a strategic moment for sellers, giving them a chance to capitalize on rising interest from potential homeowners!
What's Happening With Sales?
According to recent data, there have been only 89 closed sales this month in the North San Diego County Coastal region, which falls short of last year's 198. However, if we can reach somewhere between 160 to 180 closed sales, it would indicate a healthy marketplace despite the summer slow-down. The interplay between inventory levels and sales could lead to interesting dynamics as we transition into the fall.
Price and Time on the Market
In the $0 – $2,000,000 market, we’re seeing average list prices per square foot floating around $918-936, with properties typically on the market for about 54 to 63 days. Active listings are currently hovering around 43 to 47. For homeowners contemplating selling, this pricing information is crucial. Adjusting listings based on current market conditions could maximize selling opportunities and maintain competitive pricing.
The Bigger Picture: Predictions and Strategies
With increased inventory, sellers might find themselves competing for buyers, potentially driving prices down. However, should the number of pending sales rise above last year's counts, it could mean a slight uptick in demand—a column to watch closely! Keeping an eye on these trends can help you make informed decisions, whether you're buying a house in San Diego or selling your property.
Homeowners in San Diego should consider reaching out to a knowledgeable realtor familiar with local market trends. The right real estate agent can help you navigate this increasingly competitive environment effectively.
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