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The San Diego real estate market is very interesting right now. The lower price range you go, the hotter the market becomes. In the lower half (under $800K), it is very active. The upper price ranges aren’t exactly cold, but they’re not performing at the speed that other markets have. You can expect multiple offers and a quick sale on the lower end, and if you’re selling a higher-end property it may take a little longer to sell a home.
Mortgage rates are also playing a role in our market, and they’re forcing a lot of buyers to come onto the market before interest rates get too high. Fixed rates are hovering around 4% right now (rates were at 14% in 1984), and that is a phenomenal deal for you.
If you’ve been thinking about buying or selling a home this year, then I suggest you get on the market soon. 2016 is going to be a great year to enter the market.
I look forward to hearing from you!
