What's Fueling the Fire?

San Diego
April Market Update

Good news for San Diego homeowners! The national outlook for home prices in 2024 has shifted significantly, with experts now predicting a rise instead of a fall. This positive trend aligns with what were seeing locally in San Diego County.

Remember that whole “home prices might fall” thing? Yeah, experts are throwing that out the window faster than a toddler flings Cheerios. Now they’re predicting a rise, which aligns perfectly with what this mama realtor is seeing on the ground.

Here’s the skinny on San Diego’s market so far for 2024 (as of April):

  • New Listings: Up 11.5% with a whopping 7,566 homes on the market (hello, choices!)
  • Median Sales Price: Up 9.2%, settling in at a cool $870,000 (deep breaths, mamas!)
  • Closed Homes: Holding steady at 5,133 (-0.2%) thanks to that pesky low-inventory.
  • Percentage of Original Sales Price to Sold Price: Up 1.8% to a sweet 99.6%. So, those offers you’re putting in? Getting closer to asking price, sister!

Remember that whole “home prices might fall” thing? Yeah, experts are throwing that out the window faster than a toddler flings Cheerios. Now they’re predicting a rise, which aligns perfectly with what this mama realtor is seeing on the ground.

Here’s the skinny on San Diego’s market so far for 2024 (as of April):

  • New Listings: Up 11.5% with a whopping 7,566 homes on the market (hello, choices!)
  • Median Sales Price: Up 9.2%, settling in at a cool $870,000 (deep breaths, mamas!)
  • Closed Homes: Holding steady at 5,133 (-0.2%) thanks to that pesky low-inventory.
  • Percentage of Original Sales Price to Sold Price: Up 1.8% to a sweet 99.6%. So, those offers you’re putting in? Getting closer to asking price, honey!

So, what's the secret sauce behind this market surge?

Two main ingredients are keeping things spicy:

  • Scarce Inventory: There just aren’t enough houses to go around, which means prices are staying high, girl.
  • Mortgage Rates: Remember when those rates were skyrocketing and buyers were hiding under the covers? Yeah, they’ve chilled out a bit, bringing buyers back with a vengeance. This, coupled with low inventory, is making experts do a 180 on their predictions.

Thinking of Buying or Selling in San Diego?

This optimistic forecast is basically an open invitation to strategize your next move! Whether you’re a first-time buyer, a seasoned homeowner, or just curious about the market, I’m  here to be your partner with you and help you move towards your goal. 

Look, I get it. The housing market can be a beast. But fear not! I’ll work my butt off (because, let’s be real, with a toddler, that’s basically my exercise routine) to understand your goals and create a plan that gets you where you want to be.

Ready to chat?

 Let’s grab a coffee (because, hello, fuel!) and talk about your real estate dreams. You bring the vision, I’ll bring the hustle.

Mary Tall 

Broker-Associate  

DRE#01378751

Mary@marytall.com


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