The chart below, provided by the San Diego Association of Realtors, illustrates closed escrows for the month of July throughout San Diego county, based on a rolling 12 month average. What we see is a slight decrease in closed sales from the same time last year. For single family homes in San Diego, there was a 13.2% slowdown over last year. While condo sales fell less at 5.8%. One of the largest drop in sales, for both single family homes as well as condos in San Diego, was in the $250,000 price point or less. My guess for this fall in sales is simply a supply issue. Since we continue to gain in value in San Diego and since distressed sales continue to remain thin, there simply is not as many condos and homes priced at or below $250,000 available for purchase.
On the other end of the spectrum, the price point which saw the biggest jump in closed sales was for million dollar homes and above. Similarly with condos, we saw the largest gain in sales at the price point of $500,00 to $750,000.
If you have questions about what your home may be worth, give me a call today. I promise everyone to always share my educated, honest advice. I can provide you with accurate information you will need to make your decision of when is or is not a good time to sell your San Diego home!
Tami McCraw
