San Diego Housing Prices are UP!

Say it isn't so: SAN DIEGO HOUSING PRICES ARE UP! I know it's hard to believe but it's true. According to the National Association of Realtors prices for San Diego homes increased 7.3% from this time last year.

San Diego Housing prices are up! Why you ask? There could be several contributing factors. First and foremost is the $8000 tax credit many first time buyers are taking advantage of. This month alone I opened four escrows with motivated buyers who wanted to take advantage of prices. Secondly, investors are getting in on the game. There are investors buying up to hold rental property and there are the investors who are flipping. Flipping homes, while risky in this market is still being done. That means two transactions on one property could be taking place in the same quarter.

As of today, the average county sales prices is $424,931 for a median priced home. In the last 30 days in San Diego County there have been 3010 closed transactions and currently in escrow at this very moment we have 6003 transactions pending. How exciting is that? Even more exciting is the number of units listed in this market where we are seeing prices going up. Last month, there were 5910 homes listed in the county. That brings the total number of listings in San Diego county to date to 10,397. Do you know what that means? People are buying in this market and prices are going up. Now is the time everyone. Buy now, hold for 5 to 7 years and sell later.

Don't miss the boat. Now is your opportunity to own in San Diego. If you have questions on buying or selling, don't hesitate to get in touch with me. I'm here to make a difference for you.