July 2018 San Diego Real Estate Market Update

July 2018 San Diego Real Estate Market Update

– Is there a shift happening in the San Diego real estate market? The numbers say so. (upbeat electronic music) Hi guys, it’s Kyle Whissel with eXp Realty and today I wanna give
you your market update for San Diego, July 2018. As always, I love to focus
on the leading indicators of what’s happening in
the real estate market. I don’t wanna talk about
what the media reports, which is the number of
sales and the average price, because they’re talking about what’s happened a few months ago. We always wanna focus on what’s happening in the market today, and we’re starting to see a little bit of a shift in the numbers. So, first up, number of new
homes coming onto the market, that’s up 2.9%. Now, not surprising there. We normally have more
homes coming on the market. We’re here in that summer selling season, more people tend to make
their move around this time. So, no big surprise there. Next number we look at is
the number of pending homes. This is how many homes
have gone into escrow, and that’s down 4.7%. So, we’ve got more homes
coming on the market, but less homes going off the market. So, what that’s doing is that’s
causing supply to increase. Supply has actually increased 9.5% over the same time last year. So, you’re starting to see a few more homes coming onto the market. So, if you are somebody who’s out there thinking about buying a home, inventory’s opening up
a little bit for you; especially as you go up in price, there tends to be a
little bit more inventory. So, if you’ve been
sitting on the sidelines and you were getting beat out
over and over and over again and you got frustrated, market’s
opening up a little bit. There’s some more opportunity out there, so maybe it’s time to reengage
and start looking again. You might be surprised at how much inventory there is available. Again, it’s up 9.5%. On the other side of
things, the days on market, if you’re selling a home, how
long is it taking to sell, that’s actually down 3.8%. So, you might ask yourself,
“The supply’s going up, “but then the time or days on market “has gone down a little
bit,” and that is true, but that’s because it’s all
about pricing your home. As inventory starts to grow a little bit, it’s really, really, really important to price your home accurately. If you don’t price it accurately, a lotta times you’re gonna
end up sitting on the market for a long, long time. But if you price it right,
you price it to sell, you could sell that home just as quickly if not faster than you could
the same time a year ago. So, that’s where it’s very important you’ve got an agent on your side that knows the market inside and out and has their finger on the pulse and really understands how
much homes are selling for and what does it take to
sell a home for top dollar. So, whether you’re looking to move because of the expanded inventory or you’re looking to sell and make sure you price that home right, we’d love the opportunity to help you out. Call me, text me anytime,
Kyle Whissel, 858-699-3895. Thanks for watching.

4 thoughts on “July 2018 San Diego Real Estate Market Update

  1. Great Market Update.

  2. Very helpful

  3. Make videos about this weekley

  4. Hi Kyle, great video and very professional! Was this done all yourself or did you have a camera crew come in with pro gear? I'm gearing up to start making videos like this.

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