San Diego Market Update July 2021 - WATCH NOW!

This month, the median home price for San Diego County has reached an incredible $875,000 which is up 20% from this time last year. With inventory levels at an all-time low of only 1 month’s supply, you can see why sellers are continuing to get 104% of their asking price on average.

Only 2,698 homes were newly listed last month which is down by 9% from last year. This is the lowest number of homes listed since March! 2,255 homes went pending last month which is also down by 12%. 2,283 homes closed last month which is also down by 7%.

A big factor that is playing into these all-time low numbers is sellers do not know where or how to make their next move and buyers are exhausted from the buying process this year.

So, what does all this mean to YOU?

If you have been thinking about selling, RIGHT NOW is still a great time, but this might not last for long. We saw an increase of days on market last month which means homes are starting to sit on the market slightly longer than before. Buyers, if you understand what a huge factor low-interest rates play into your monthly mortgage payment, you can understand why demand is staying strong in San Diego.

If you are one of the sellers or buyers who are struggling with today’s market, I would love to speak with you about your unique situation and help strategize with you on how to make your next move. Call, text, or email me TODAY. I am always here and happy to chat. Have a great week and I will see you next month for another update on the San Diego market.