The San Diego real estate market is performing well, but it is leaning towards a seller’s market in most neighborhoods because inventory is low. Homes that are staged well and priced correctly should be selling for top dollar in this market. If you’re having trouble selling it’s often a result of the price of your home.
Another key component of our market is interest rates. They’re sitting right around 4% and this will bring a lot of buyers into our market because homes are extremely affordable right now. Rates won’t stay this low forever, so if you’re thinking of buying, then now may be the time to do so.
When I got into the real estate market the interest rate was 14%! Most projections about interest rates don’t predict them to jump that high, but they are expected to be around 5% by next year.
As always, if you’re looking to buy or sell in San Diego, please don’t hesitate to contact me. I’m always here to help!