Real Estate Watch – Dan Conway
3rd Quarter Slow Down Turns into 4th Quarter Boom!
The first half of 2014 proved to be very strong for real estate in San Diego. Homes were only lasting a few days on the market, often receiving multiple offers and over-asking price sales! We attribute this to families moving from and into different school districts along with homes appreciating after the long downturn, which saw sellers listing homes at an increasing rate.
However, why the sudden stop in sales? Quite frankly no one knows, but we speculate on some of the obvious signs. Buyers found their homes earlier than usual while sellers saw the increase in their home values and decided to sell. Summertime typically marks a heightened home buying season, and once the dust settled most people elected to enjoy the splendid San Diego summer and the fun that comes with it!
Meanwhile, several sellers either missed the market surge or had their homes priced out of reach. This fact contributed to a slowdown in sales. The slowdown in the third quarter had sellers rethinking their pricing and gradually lowering their price. We hit the fourth quarter with a flood of price reductions, and, coupled with new inventory, it was off to the races! The market growth continues to rise as interest rates remain low… buyers are back!
“With the election cycle behind us and 2015 well within sight, it’s a good time to start assessing how the market is shaping up. Inventory levels are finally rising in many areas and demand is still strong in most segments.” – Excerpt from San Diego Association of Realtors
Thinking of changing your address? Let the our team of elite realtors assist you! We can be found at Pacific Sotheby’s International Realty at 3860 Valley Centre Dr. Suite 409, San Diego, CA 92130 next-door to Vons. Call at 858-243-5278, email at firstname.lastname@example.org, or visit www.danconwaysold.com.
CA DRE LIC #01885744
3860 Valley Center Dr.
Suite 409, San Diego,