The Battle Continues... the Inventory Battle that is!
Throughout most of the County, we continue to battle an inventory shortage issue which is causing home values to significantly increase. This condition has lead many people to believe that we must be in some type of market bubble; however, the problem with this logic is that there are no valid indications of the market slowing down. Quite the opposite. We live in a market now without subprime mortgages, $0 down loans, or no stated income loans - lenders have MUCH stricter qualifications that serve as a market safeguard during a rising sales spike. Now, if we apply the law of averages, we can predict that things will eventually slow down, but so long as inventory stays this low, all signs confirm that this competitive sales market is here to stay.
Here are the numbers I am referring to...
Closed sales have decreased -4.3% from this time last year, even worse is the current amount of inventory is down to -25.2% !!! With such minimal levels of inventory, of course the Median sales price has increased to 8% compared to this time last year, and caused the average days on market to decrease 31.2%.
Having been raised in San Diego, Joseph has a great wealth of knowledge of each community San Diego has to offer. Combined with being extremely hard working, having a great attention to detail, and having the ability to listen Josephs clients receive an elite level of service.
Buyers Advice: Don't skip over that home with ugly pictures! Yes,
"Thank you Arendsen Group for all of your help! Joseph and his amazing team helped us prepare and sell our house in Oceanside and also advised us while we worked with our buyers agent to buy another home out of state! We had a couple of small bumps in the road but they were able to guide us through and sell our home for more money than we initially expected to!!! Thank you all for your hard work and professionalism!"