Posts Tagged ‘Realtor.com’

Central San Diego Housing Market Update-November 2013

With the holidays upon us, the housing market has cooled down. Homes are starting to sit on the market longer. The skyrocketing home prices seen for over a year, through the summer, are no more. While the number of homes sold is dropping, the average sale price of San Diego homes has stabilized.

There are a number of factors at work right now slowing the housing market down a bit. These include rising interest rates (from 3.5% earlier this year to a current rate of 4.43%), housing inventory levels catching up with demand, and prices simply peaking (they can only go so far before many potential buyers get priced out of the market). It’s also simply a slower time of year for real estate sales.

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

*Please note, I am now using MEDIAN figures instead of AVERAGE. I believe it will show a better representation of true housing trends.

 Housing Figures-Central San Diego

Date # of Sales Median Sale Price Med Price/Square Ft. Ave Days on Market    
November 2013 169 $407K $334 22
October 2013 212 $399K $344 17
November 2013 206 $372K $297 28

There are currently 6500 active listings in San Diego county, down from 6600 last month.

san diego housing market update

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Central San Diego Housing Market Update-October 2013

With fall setting in  and the air getting cooler, the housing market prices have also cooled down. The skyrocketing home prices seen for over a year, through the summer, are no more. While the number of homes sold is staying stable, the average sale price of San Diego homes is dropping month-over-month.

There are a number of factors at work right now slowing the housing market down a bit. These include rising interest rates (from 3.5% earlier this year to a current rate of 4.25%), housing inventory levels catching up with demand, and prices simply peaking (they can only go so far before many potential buyers get priced out of the market).

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

 

Housing Figures-Central San Diego

Date # of Sales Ave Sale Price Ave Price/Square Ft. Ave Days on Market    
October 2013 212 $426K $352 33
September 2013 208 $480K $356 30
October 2012 231 $399K $308 48

san diego housing market updateThere are currently 6600 active listings in San Diego county, down from 7100 last month. Properties newly for sale also continued to sell very rapidly, with a mere 33 days on market.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Central San Diego Housing Market Update-September 2013

As the month of September drew to a close, It is still a strong sellers market, while buyers (including cash investors) continued bidding wars on listed properties. However, the skyrocketing home prices may be peaking, with the average sale price finally slipping over the previous month. Our 20% year-over-year price increase has been slipping closer to a 17% increase.

There are a number of factors at work right now slowing the housing market down a bit. These include rising interest rates (from 3.5% earlier this year to a current rate of 4.25%), housing inventory levels catching up with demand, and prices simply peaking (they can only go so far before many potential buyers get priced out of the market).

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

 

Housing Figures-Central San Diego

Date Number of Sales Ave Sale Price Ave Price/Square Ft. Ave Days on Market
September 2013 208 $480K $356 30
August 2013 224 $436K $360 27
September 2012 193 $401K $292 64

san diego housing market updatePrices continued to rise in San Diego (now 17% year-over-year), while inventory seems to finally be catching up with demand. There are currently 7100 active listings in San Diego county. There were nearly 6700 last month and only 4000 earlier this year. Properties newly for sale also continued to sell very rapidly, with a mere 30 days on market.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Central San Diego Housing Market Update-August 2013

As the month of August drew to a close, It is still a strong sellers market, while buyers (including cash investors) continued bidding wars on listed properties. However, the skyrocketing home prices may be peaking, with the average sale price finally slipping over the previous month. Our 20% year-over-year price increase has been slipping closer to a 17% increase.

There are a number of factors at work right now slowing the housing market down a bit. These include rising interest rates (from 3.5% earlier this year to a current rate of 4.7%), housing inventory levels catching up with demand, and prices simply peaking (they can only go so far before many potential buyers get priced out of the market).

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

 

Housing Figures-Central San Diego

Date Number of Sales Ave Sale Price Ave Price/Square Ft. Ave Days on Market
August 2013 224 $436K $360 27
July 2013 239 $447K $353 29
August 2012 225 $359K $287 55

san diego housing market updatePrices continued to rise in San Diego (now 17% year-over-year), while inventory seems to finally be catching up with demand. There are currently 6700 active listings in San Diego county. There were nearly 6000 last month and only 4000 earlier this year. Properties newly for sale also continued to sell very rapidly, with a mere 27 days on market.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Central San Diego Housing Market Update-July 2013

For the first time in over a year, pricing is taking a breather, as the month of July drew to a close. It is still a very strong seller’s market, while buyers (including cash investors) continued bidding wars on listed properties. However, the skyrocketing home prices may be peaking, with the average sale price finally slipping over the previous month. Our 20% year-over-year price increase also slipped to a 17% increase. To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.

 

Housing Figures-Central San Diego

Date Number of Sales Ave Sale Price Ave Price/Square Ft. Ave Days on Market
July 2013  239 $447K $353 29
June 2013 247 $505K $366 29
July 2012 231 $371 $290 69

san diego housing market updatePrices continued to rise in San Diego (now 17% year-over-year), while inventory seems to finally be catching up with demand. With nearly 6000 active properties for sale in San Diego County, we were close to 4000 earlier this year. Properties newly for sale also continued to sell very rapidly, with only 29 days on market.

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com

Should I Fix the Roof Before Selling?

Home sellers often wonder what sort of repairs or upgrades should be done before putting their home on the market. When it comes to a home, one of the biggest expenses people worry about (and with good reason) is the roof. Roofs are a home’s number one defense against the elements. Not only are they very expensive, but leaky roofs can be the culprit of water damage, mold, and a host other problems. A new roof is often worth a lot to potential buyers, because it puts their minds at ease about any looming future problems.

sell home fast san diegoIn general, roofs last about 25-30 years (longer for tile). If you are about to sell, should you replace the roof? That depends on the situation, so the first step is to get roofing contractor to look at it. The inspector can examine the roof and let you know what may be needed so that you can make an informed choice. Having your own inspection also prepares you for what the buyer’s inspector may recommend.

If the inspector determines that a new roof is needed, a few key questions can help you arrive at a decision on whether to replace it.

1. Do you own the home outright? Your decision about replacing the roof may depend on whether you are looking to get a lot of money for the home. If you already own the home, you may not need as much of a return as someone who has a large mortgage and still hopes to leave with some cash in pocket.

2. Can you afford the cost, or will you need a home-equity loan? A home-equity loan can be used to make repairs, but that loan will also need to be satisfied when the house is sold.

3. What is the housing market like? At least for now, the San Diego housing market is hot enough that your home will likely receive multiple offers. Examine whether there are other homes for sale in the area that are priced in your range and, if so, what condition they are in. In a sellers market like this one, sellers are in control and don’t need to do much (if any) repairs such as a roof. Of course, when the market eventually turns,  a major incentive to potential buyers is a new or repaired roof.

4. Will leaving the roof as is have a negative impact? Is it necessary to put a new roof on the property to prevent other damage to the home? If you have already seen leaking, you must act immediately. It may be hard for the buyer to get a mortgage if the roof is in bad shape.

If you aren’t interested in replacing the roof, you could investigate a partial repair to address immediate problems. Another option is to offer buyers a lower price or credit that factors in the potential cost of the roof. Some buyers may be more interested in replacing the roof themselves. This can also be good for a seller because it reduces their liability, should the roofing company do a sub-par job.

 

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
Visit my Website: http://ryanyourrealtor.com
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