Real Estate Watch – Deanne Motsenbocker – Portfolio Real Estate
It’s Hot and Getting Hotter in RSF!
It may still be cold and wintery in the much of the U.S., but here in sunny San Diego it’s heating up! And not just the temperature – the real estate market is hot and looking to get hotter!
Here is why: as I wrote in the last issue of 92067 Magazine, we began 2015 with low housing inventory. Now heading into spring, let’s take a closer look at what’s happening in 92067. As winter turns to spring we are beginning to see more homes come on the market. Year-to-date inventory is up 15%. But that is only part of the picture. Pending sales (which tell us where the market is heading) are up almost 40% year-to-date, and closed sales are up a whopping 67%. The median sales price for a detached home in RSF is up about 12% year-to-date, and the average days on market (how long a home is on the market before it goes into escrow) is down over 15%.
With stats like this we expect to see more sellers deciding to get in the ballgame and put their home on the market, so look for home inventory to increase. At the same time indicators are that interest rates may tick up a bit but will remain attractively low, at least for a while. Many folks are going to see this as the time to jump in and buy as the increase in inventory gives them more choices and interest rates are still low.
What we have here is a good scenario for a healthy market for both buyers and sellers.
This may be the perfect time to make your move and I can help you! Please call, text, or email me today. Remember – to get the MO$T call MOTS at 858-444-MOTS (6687).
Deanne Motsenbocker CA BRE# 01724437
PORTFOLIO Real Estate | 858-444-MOTS (6687)
www.portfolioluxuryproperties.com | DeanneMots@gmail.com