It’s the buzz around town…”Where are all the homes For Sale at?”
As of today the inventory is the lowest it’s been in over 7+ years! In 2007 San Diego County had 23,000 homes available on the market. Just last year alone we had 15,000+ homes on the market. Today we have only 6,372; with a very low number of those bank owned homes, less than .05%. Last year at any given time in San Diego County 25% of the market was bank owned homes and the other 25/30% of the market was Short Sale.
Due to the inventory being half of what it should be right now (50% less listings of a normal market) combined with record low interest rates, this leaves us with tons of anxious buyers who are facing multiple offers on every single property within the first few days of hitting the market. What this means is if you’re thinking of listing your home, now is the time! They’re plenty of buyers out there willing to pay top dollar for your home!
Heres the numbers today:
6,372 properties on the market
1,037 are Short Sales (16.3%)
324 are REO (.05%)
4,606 are detached (72.3%)
1,770 are all others, twin/town/row/attached (27.7%)
– Joel Blumenfeld | 5/16/2102 |Prudential California Realty | firstname.lastname@example.org | 619-508-2192