Posted On: February 5th, 2015 10:59PM
So I'm sitting here looking at my spreadsheets with last year's statistics trying to decide which information would best suit my buyers and sellers.
Let's start with SFD units SOLD in San Diego County last year: 22,137, or 5% fewer than the previous quarter. Still this number was slightly better than what I had predicted (21,500) in Q3's report.
Add to that 10,925 SFA homes that SOLD last year and we have a total of 33,062 homes sold county wide, down 3% from 2013. Which isn't bad considering 2013 was a mini-boom year.
The other piece of good news is Bank Owed (REO) sales comprised only 2.1% of all total sales last year. If we think back to 2011 that number was 25%. Short Sales were down as well comprising roughly 5.5% of all sales in 2014, down from 25% in 2011.
What about home values you ask? Well, for SFD homes we've seen an average of 10.8% increase in value over 2013; 18.3% over 2012; and a whopping 31.1% over 2011. The numbers are equally good for SFA homes with an average increase in value of 13% over 2013; 37% over 2012; and 42.7% over 2011.
I think we can safely say that the real estate market is well on it's way to regaining its health.
Call me today to receive a free comparative market analysis of your home's worth. I'll also come buy and give you valuable tips on how to get your home ready to sell in time for the Spring buying season.
Buyers and Sellers.....start your engines!
Posted On: November 18th, 2014 8:41PM
Sales for Single Family Detached (SFD) homes in the 3rd Quarter of 2014 were down by 12.7% from Q2. This should be no surprise as Q2 historically tends to be San Diego’s hottest quarter for homes sold.
What do I expect for Q4? About a 6% to 7% drop in sales for SFD homes. If that happens, we should finish the year with around 21,500 SFD homes sold – close to the numbers posted in 2011. For all practical purposes, the mini-boom years of 2012 and 2013 are over.
What does that mean to buyers and sellers? As a seller, you should be more willing to negotiate on price and terms. Be flexible. Remember, fewer buyers will be out there shopping for your home…unless of course you want to wait until Spring to sell your home.
As a buyer, you can expect to be in a stronger negotiating position due to there being fewer buyers competing for homes. However, keep in mind, there are also fewer homes being listed during this period so you can’t be too picky or take too strong a negotiating stance…especially if you fall in love with a house. This is where I excel in guiding my buyers through these tricky negotiating waters.
Looking ahead, if trends hold true, the last quarter of 2014 and the first quarter of 2015 should the best time for home buyers to make that move and get into home ownership. I’m here to help you get started. Call me!
Until next quarter…