September 2022

Stabilizing September

The housing market may have cooled but the San Diego Association of Realtors says sales are up 9% compared to last year in San Diego. The latest data shows home prices are continuing to appreciate, just at a slower, decelerated pace. But that doesn’t mean they’re depreciating.
Experts believe we are not in a housing recession, rather the market is stabilizing. Meaning, homes with fantastic views are staying on the market 30 to 45 days which was typical pre-pandemic.

Existing single-family home purchases were down 22% in July compared to June, according to the Greater San Diego Association of Realtors (GSDAR). Prices dipped in July, which is a continuation of a trend that started earlier in 2022.

The median price of single-family homes in San Diego County was $969,000 in July, which is down one percentage point from June, the GSDAR said.

So... What does this mean for homebuyers? The buying frenzy from the last two years is cooling off, which means more options for homebuyers and less competition. It also means buyers have more negotiation power and are taking advantage of seller concessions, which can help towards necessary repairs and closing costs.

If you want to know more about what’s happening with home prices in our local area, contact me today and let’s connect.

Janicke Swanson

Our team just got back from our Annual Real Estate Summit in Dallas hosted by Tom Ferry, one of the biggest real estate conferences in the nation with over 6,000 top producing agents and coaches!

We had an incredible 3 days filled with new tools, market analysis and discussions that will help us better serve our clients. From the leading experts of communication, market trends, and luxury marketing, we learned so much valuable information that we can't wait to share with you!

PRICE IMPROVEMENT!

4055 LAMONT ST, SAN DIEGO, CA 92109
2 BED l 2.5 BATH l 1,554 SF
Now Offered at $1,449,000

Welcome to San Diego living at it’s finest! This turn-key 2017 built Crown Point Townhome features 2 beds and 2.5 baths with designer finishes throughout.

Open House this Weekend!
Saturday 9/3 1-4PM

SEPTEMBER EVENTS CALENDAR

September San Diego Events Calendar

THE NEWS

What's Actually Happening With Home Prices Today?

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.

Appreciation is when home prices increase.
Depreciation is when home prices decrease.
Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

Read the Full Article

RECENT ACTIVITY

ACTIVE
420 Le Verne St l Mammoth Lakes
5 BED l 6.5 BATH l 6,763 SF
Listed at $6,750,000
*Representing Seller

ACTIVE
4055 Lamont St l Crown Point
2 BED l 2.5 BATH l 1,554 SF
Listed at $1,449,000
*Representing Seller

SOLD
1537 Hillstone Ave l Escondido
4 BED l 3.5 BATH l 3,259 SF
Listed at $1,975,000 l Sold at $1,815,000
*Represented Buyer

SOLD OFF-MARKET
3985 Carmel Springs Way l Carmel Valley
2 BED l 2 BATH l 1,236 SF
Off Market Fixer - Listed at $1,249,000 l Sold at $1,280,000
Represented Buyer and Seller

SOLD
13227 Petunia Way l Carmel Valley
3 BED l 2.5 BATH l 1,830 SF
Listed at $1,599,000 l Sold at $1,599,000
Representing Seller

SOLD
7190 Shoreline Dr #6302 l UTC
2 BED l 2 BATH l 848 SF
Listed at $699,000 l Sold at $730,000
Representing Seller & Buyer

SOLD
727 Sapphire #404 l Pacific Beach
STUDIO | 1 BATH | 360 SF
Listed at $569,000 | Sold at $560,000
Representing Seller

SOLD OFF MARKET
3937 Carmel Brooks Way l Carmel Valley
3 BED | 2.5 BATH | 1,738 SF
Listed at $1,600,000 l Sold at $1,610,000
Represented Seller & Buyer