Here’s what you need to know about the slight shift taking place in our San Diego market.
Welcome to my very first real estate blog post! Every month from here on out, I’ll be bringing you a variety of helpful tips, tricks, and need-to-know facts about our San Diego real estate market. Today’s topic covers everything you need to know about the shift we’re seeing in the market.
Though we’re still in the midst of a hot seller’s market, things are beginning to slightly shift. Over the last few months, we were seeing homes get into multiple-offer situations and sell within hours of being listed. That’s not happening as much now because more inventory is coming onto the market. Buyers have been able to view more and more homes and take their time before making an offer.
In previous years, we would tell sellers to hold tight for two weeks after we list their homes. If we had no showings and no offers in that time frame, we’d know we’re overpriced. That’s not happening right now; rather, overpriced homes are simply taking a few days to be sold instead of hours.
Interest rates are hovering around 3%, which is fantastic because it makes purchasing a home much more affordable for buyers. It’s a great time to start looking for a home.
If you’re ready to jump into the market, or if you have any questions, feel free to reach out to me. I’d be happy to discuss how we can help make your real estate dreams come true. Until then, I look forward to hearing from you soon.