April 2017 Real Estate Update

April 2017 Real Estate Update


The first quarter of 2017 is in the books, so what happened?

Well… the market has outdone everyone's predictions. We are seeing month over month price increases, we are seeing buyer activity at an all time high, and we aren't seeing any signs of this slowing down. Why? Because we don't have enough inventory. I think this is due to the common concern I keep hearing from potential sellers… they are concerned if they sell, they won't be able to find their next home. (If this is you, read our Sellers Advice in 2 weeks)


With all that being said, here are the stats to back this up:


Closed Sales decreased 0.8% for Detached homes & 14.1% for Attached homes, however inventory decreased 29.9% for Detached homes and 34.7% for Attached homes which caused the Median Sales Price to increase 7.9% to $565,000!

DOM (Days on Market) decreased 13.6% for Detached homes & 17.1% for Attached.
All this is telling us we are in a HOT market!



Article from San Diego Real Estate Today


Joseph Arendsen Headshot
Author:
Phone: 760-672-0174
Dated: April 5th 2017
Views: 105
About Joseph: Having been raised in North County San Diego, Joseph has a great wealth of experience and knowledge ...

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