San Diego Real Estate Market

Despite increasing interest rates, the San Diego real estate market is continuing to flourish. By taking a look at recent trends, it is easy to compare home listings that you are interested in with average sales in the San Diego area. When looking at a sample of accounts sold between the dates of March to September of 2004, these homes had 2,850 square feet of living space at $343 per square foot on average. The typical home was only on the market for about a month, which is great news for homeowners who are looking for a quick sale.

Assessing the Market

2005 is promising to be an even stronger year in the real estate market for San Diego County. Some real estate brokers have noted that they are seeing a lower inventory level than what they have seen during the past nine months, which can be easily attributed to seasonal trends. That said, the popularity of the San Diego area keeps demand high for these attractive properties.

Some real estate brokers are attempting to predict where the market will end up at the end of the year as we head towards a degree of economic uncertainty. Many brokers still expect the market to grow, but we will most likely see this growth occur at a much slower pace. Many analysts will tell you that if you are thinking about buying a home, now is the time. Attempt to lock in a low interest rate now, as opposed to being left behind.

If you are looking to sell your San Diego home, make sure you price it properly. If you own an attractive home, it will most likely sell quickly as long as the price is reasonable. If you price your home high, it may take longer to sell and you may end up having to make a concession once you receive a reasonable offer.