Market Conditions in San Diego Present a Unique Opportunity

The San Diego County market is suffering from an inventory crisis. However, the best agents are turning this into an opportunity for more business.

Thinking about a career in San Diego real estate sales? 
 Email me today for a private San Diego real estate career consultation.

The latest numbers are in for San Diego County, so I wanted to take a moment to talk about the real estate market and what I’m seeing right now.

We’re down about 9% in the number of new listings from last year. We’ve only brought about 12,000 homes on the market this year compared to 14,000 last year. The pace of sales is slowing down a bit too. We saw 7,400 home sales by this time last year, but right now we’re sitting at around 7,300.

Combined, those two factors are really knocking down inventory in the market just as the busy season is starting. That’s going to make prices shoot up. Who knew that San Diego County could get more expensive to live in, right?

Our median sale price is up by another 5.5% from last year and sits at $510,000, which is absolutely incredible. Half of the home sales are below $510,000, but the other half are above that number. That’s a higher figure than we saw in 2006.

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There are only 1.6 months of available inventory right now.

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The big question looming for Southern California is what will happen with our active inventory. We’re down by 30% year-over-year.

As of April 1st, we had 4,864 properties listed for sale in the entire county, a 1.6 month supply. We typically sell about 3,700 homes each month and that number can rise as high as 5,000 in the summer.

Buyers face a scary proposition in this market. When you consider that half of buyers are also sellers, the inventory problem makes sense. Sellers are hesitant because it’s hard for them to answer the question of where they are moving next in this kind of market. That’s where the best agents are turning this market into an opportunity.

Next time, I’ll talk about how you can turn these market conditions into a big opportunity for your business. If you have any questions in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

What Do Worsening Real Estate Conditions Mean for You?

Thinking about a career in San Diego real estate sales? 
 Email me today for a private San Diego real estate career consultation.

October is in full swing here in San Diego, and it's starting to get a bit chillier outside. Does this mean it's the slow season for real estate? If history is any indication, we're probably going to see the number of home buyers decrease.

The other day, I was reading a great article that mentioned that August signaled the end of the home buying season here in California. We're seeing more listings sit on the market for a longer time and sell for a bit less money. Historically, it's nothing to be concerned about this time of year. However, when taking a look at the amount of inventory with new construction and the national and international economic uncertainty, it's starting to look like the market is making more than just a seasonal shift.

I was talking to Gary Keller recently and he said to look out for a surprise in the market over the next 6-8 months. This brings me to the next thing I want to remind you about: The Shift Book. Gary wrote it back in 2007-2008, and it really taught our agents how to thrive when the market changes. We can't know for certain whether the market is going to change next year, but we do know that the market will change eventually.

To get a bit more information about The Shift Book, click here! Pick yourself up a copy if you want to learn how to stay on top even when the market shifts!

What Can You Expect from the San Diego Market Moving Forward?

Thinking about a career in San Diego real estate sales? 
 Email me today for a private San Diego real estate career consultation.

Every year, we watch for several things: how many new listings are hitting the market, how many are going into escrow or pending, and how many are closing escrow and actually selling. All of this leads us to the simple supply and demand economics of our local real estate market.

If you're an agent and you're working in the market, you know we're currently down on inventory. In fact, on the detached housing market, we're down to only 2.8 months of inventory. This means if we didn't list any new homes in the next 3 months, we would sell off everything we have available and run out of inventory. Historically, anything under 3 months of inventory is considered an extreme seller's market, meaning a seller can name their price, within reason, and that buyers are going to have a tough time getting into homes because of multiple offer situations.

These conditions are very dependent on the price point. Anything below about $600k-$750k is selling incredibly fast. These homes are selling quickly and for top dollar when priced reasonably. On the other hand, when homeowners price their home 10% over the most recent sale, we know they have eliminated 90% of the buying market. This is a valuable tip to remember when selling if you want to make the most of the process!

All in all, the market is looking strong. Days on market are coming down and we've sold about 14% more inventory this year than the same time last year, and prices are on the rise. As we move to the end of summer and get ready to enter an election year, you can expect things to get interesting!

If you have any questions or need real estate assistance of any kind, don't hesitate to reach out to me. I would love to assist you in any way possible.

What's Going on in the San Diego Marketplace?

Thinking about a career in San Diego real estate sales? 
 Email me today for a private San Diego real estate career consultation.

Are you curious about what market conditions are like in San Diego County? If so, stick around for a quick market update.

Year-over-year we've seen massive improvement in the market. Once again, we're seeing multiple offers, sellers naming their prices, and buyers gladly paying what's asked. At this time last year, we were sitting at 3.3 months of unsold inventory; right now, we're at only 2.6 months! 


The market is so hot right now that the average home is selling in only 34 days! When I'm talking to buyers or sellers, I act with urgency. After all, if there's one thing we know about this market, it's that these wonderful conditions won't last long. You'll be doing your buyers a huge favor by getting them to act quickly.

Do you have questions about how you can best service your clients in this competitive market? Give me a call or shoot me an email at any time for the real estate assistance you deserve. I would love to help you grow your business this summer!

How Can You Make San Diego Real Estate Work for You?

Thinking about a career in San Diego real estate sales? 
 Email me today for a private San Diego real estate career consultation.

Email me today for your FREE copy of Gary Keller's The Millionaire Real Estate Investor.

Today, I want to offer some quick tips on investing in real estate.

As real estate brokers, we often fail to realize that we see the best opportunities in the San Diego market before everyone else has a chance to take advantage of them. Those who do realize it wonder if they have the time, money, and experience to make an investment pay off.

The truth is, a profitable investment in real estate is at your fingertips! To help you realize the goal of successful real estate investing, I want to offer you a free copy of Gary Keller's The Millionaire Real Estate Investor. In it you'll find all you need to know about making the right investments at the right time. Click this link to receive your free copy, where you'll learn the art of flipping homes, buying homes and selling them for profits, buying homes and holding them for rent, and investing in notes.

There are so many opportunities in The Millionaire Real Estate Investor, and I look forward to sharing them with you!

How Will Rising Interest Rates Affect Affordability in San Diego in 2015?

Thinking about a career in San Diego real estate sales? If you're a current sales professional looking to control your own income and success in a new industry, or you're an existing real estate agent who needs more help to reach your goals, email me today for a private San Diego real estate career consultation. I'll share with you what a sales career at Keller Williams looks like, as well as the great income you will earn helping San Diego homeowners sell and buy homes in our greater San Diego County area.

Hello and welcome to 2015! 

Last year was a pretty interesting one for real estate in the San Diego area. We finished the year with the same amount of inventory we started the year with, but saw significantly less buyer demand as 2014 came to an end. What does this trend mean for prices, sales, and real estate in general as we begin a new year?

When we look at the market overall, we're still seeing rates near all-time lows. Interest rates are currently hovering around 3.5%, but we're not expecting that to last much longer. The real estate market, like all markets, is cyclical - it goes up and it goes down. Since the crash and the recession that followed, we've seen great appreciation in the market, and sellers have been making solid gains. 

Our market is in a similar position to where we were in 2003. The Federal Government is incentivizing home buying with low down payment programs, decreasing FHA mortgage insurance premiums, and generally making money more available. Lenders are also stepping up to the plate, making loans easier to get. This is all fantastic news for buyers and sellers today.

The thing to keep an eye on is interest rates - at some point they are going to rise. When they do, we expect the increase to spur home buying activity. Sellers need to see that as an opportunity to make their move. As more sellers and buyers flood the market, it has an impact on prices and thus affordability goes down. This downward trend will happen, as it always does - it's simply a matter of when. 

No one can know for sure when we'll see these wonderful conditions come to an end. What we know is, as always, the best priced homes, that are staged appropriately and marketed to the right audience, sell every day! 

If you have questions about our market, or would like real estate assistance of any kind, we would love to hear from you! Give us a call or shoot us a quick email, and we'll help you in any way we can!

Thanks, and make it a great day!