Literally there has not been a better time, since 2007, to sell your San Diego home. With a historically low amount of available homes for sale, coupled with a strong healthy demand, you can expect to net top dollar for your hard earned investment. Most people have not heard the term seller’s market for quite some time. However, most neighborhoods throughout San Diego, can be considered to be in a seller’s market currently.
Most bubble watchers define a seller’s as any market which has an absorption rate below six. Six month’s exactly is considered a balanced market as there are a relatively equal number of homes for sale for available buyers. And over six, represents a buyer’s market.
It may surprise many San Diegan’s to know that in many of our neighborhoods we are seeing a return to a sellers market; a relatively low absorption rate of below six. That is to say, there are more buyers looking to buy a home, than homes available. As a result, most areas are seeing slight price increases and 9 times out of 10, multiple offers. The more interest your home generates, the better negotiating position you will be in to net top dollar for your hard earned asset.
The chart below illustrates the demand for housing throughout California by analyzing the percentage of properties with multiple offers.
Percent of Properties with Multiple Offers in California
For more information on what types of prices, offers and interest your property might generate email me today. I will sit down with you and provide you with a detailed market summary of your home as it compares to your neighbors to help you better understand what value you can expect.
Tami McCraw
