Hi All! The Market doesn't Look so Bleak for the Rancho Penasquitos Real Estate market area of San Diego! LOOK!
Here are the Stats for Detached homes in Rancho Penasquitos for June compared with May:
Rancho Penasquitos
Detached Homes |
New Listings
June |
Home that went under contract in
June |
Sold Homes
June |
New Listings
May |
Home that went Under Contract in May |
Sold Homes
May |
| Number |
35 |
37 |
27 |
18 |
9 |
37 |
| Avg List Price |
$674,927 |
$605,972 |
$650,374 |
$666,875 |
$561,085 |
$644,267 |
| Median List Price |
$639,900 |
$575,000 |
$640,000 |
$675,438 |
$565,000 |
$629,000 |
| Avg SOLD price |
------------ |
---------------- |
$626,611 |
-------------- |
-------------- |
$616,560 |
| Median SOLD Price |
------------ |
---------------- |
$618,000 |
-------------- |
-------------- |
$575,000 |
As you can see, the number of SOLDS in Rancho Penasquitos for DETACHED homes decreased slightly from 37 to 27 but, the number of homes that went under contract more than QUADRUPLED!!!! from May to June, and the average and median SOLD price increased from May to June too! Very positive signs for Rancho Penasquitos Real Estate. The number of homes under contract is very good, because that seems to be a precursor for increase SOLD homes for the following month we will have to wait and see.
Nevertheless, If you are looking to buy in Rancho Penasquitos, NOW would be a good time to get in the game One never can see the bottom exactly in stats until after it has already happened, and by then it is too late. So, with mortgage interest rates climbing, and the prices down where more buyers are jumping in, if you are thinking about a home, contact me.
Gerard Maher is a REALTOR for the San Diego area. Gerard specializes in Poway Real Estate, Scripps Ranch Real Estate, Rancho Penasquitos Real Estate and Mira Mesa Real Estate. You can reach him by email at G@CallGman.com or call him at 619-481-0882.
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Gerard,
These news are the ones we all like to hear about. Under-contract numbers are really encouraging over there, as people are starting to believe in the market again. Mortgage rates did come down a bit this week, so that's good, too.