As an active full time San Diego, CA Real Estate Agent, I want to point out how a buy now or later decision effects some but not all. Many people are moving in to the area, marrying/divorcing/expanding their family, etc and they may need to buy now regardless of what may be happening in the market. For those that are contemplating but don't have a specific requirement, it's a question of trying to time the market similar to the stock market. The problem with that is, the general public info lags behind on both up and down swings. For example, previous market reports I posted, 6 weeks ago have changed. It was slower than average as was April but Jun & early July have picked up steam again in the San Diego. Builders have burned off some of the new home inventory that was building up and permits for new construction are are still slightly down so it should keep supply and demand in check for most price points in most San Diego's markets.
Many articles being published now are looking at national trends in Real Estate. Even local articles can be deceiving as they are lumping San Diego and surrounding area statistics together. Most San Diego markets, with few exceptions, are still very strong and not expected to have the fall out that is being seen currently in some outlying suburbs. The downturn in these markets may never materialize or be inconsequential and trying to time the market where info lags behind may only force a buyer to pay more if they are betting on a downturn. Rates continue to be great for qualified buyers and Rancho Santa Fe in general appears to be stable and steady. Get with a qualified Realtor you trust to get further in depth questions answered about the local Rancho Santa Fe, CA Real Estate Market or I'm happy to help and provide specific area statistics and answer questions. San Diego Home Buyers Do You Know Your Buying Power? Contact me @ rodrickwatson@remax.net or visit www.thewatsongrouprealty.com to start your home search and Request a Free Local Market Report!
Price Trends
The median single family home price as of July 10 2011 for SAN DIEGO is $463,622.
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Market Conditions
With a Market Action Index as of July 10 2011 at 18.27, SAN DIEGO is currently a buyer's market.
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Sales and Demand Trends
The average property in SAN DIEGO as of July 10 2011 has been on the market for about 127 days.
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Price Per Square Foot
The median price per square foot for homes in SAN DIEGO as of July 10 2011 is about $268.
Homes for Sale
There are about 3,066 properties on the market in SAN DIEGO as of July 10 2011.
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