Up up and away, as San Diego home prices soar. According to the real estate firm CoreLogic<, the median home price for the month of March 2016 rose to $478,000. This increase is higher than the median home price in August 2007 of $475,000 when the recession was in full force. San Diego County home prices have increased 5.1% year-over-year from February to March. Our agents have noticed a clear shift in the market. Recently, within three days we received multiple offers above the list price for a 3 bedroom 2 bath home in Lemon Grove. The demand for housing, in conjunction with very low inventory has created a seller’s market.
However, today’s market also presents a great opportunity for buyers since low interest rates offset the higher prices for housing. Buyers should aggressively pursue the market and their initial offer should be at or close to their highest and best in order to maximize their chances of buying a house.
Please feel free to contact our office for all your real estate needs. We offer free confidential consultations.