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From the category archives: Market Update

Improved Affordability

Who's Buying Homes?

SDLookup September Newsletter

 
 
 
The San Diego real estate market remains strong with listing inventory on the lower end. The average selling price has increased by 6.80% year over year. The number of sold listings has increased by 3.90% since last year. In terms of new listings coming on market the change has seen a increase of 5.37% from a year ago. Our market has encountered a large drop in active listings from a year ago, which decreased by 13.3%. Homes are selling faster in today’s market with a 10.3% decrease in the average days on the market. Market conditions benefits sellers and continent buyers that are selling in particular if moving into a higher price point where there are fewer buyers. If we can help you let's talk!Contact Us

 

SDLookup July Newsletter

 
 
 
The San Diego market is a seller’s market. The average price is increasing. It is up 4.7% from a year ago. We are also seeing that the number of sold listings has decreased by 11.5% since last year. In terms of new listings coming on market the change has remained relatively steady with a decrease of only 0.9% from a year ago. We saw a large drop in active listings from a year ago, which decreased by 15.7%. Homes are selling faster in today’s market with a 15% decrease in the average days on the market. Market conditions benefits sellers and continent buyers that are selling in particular if moving into a higher price point where there are fewer buyers. If we can help you let's talk. Contact Us

 

California Home Sales

Beautiful 2br/2ba Townhome With Garage in Desirable Scripps Ranch Coming Soon!

Beautiful 2br/2ba Townhome With Garage in Desirable Scripps Ranch Coming Soon! $394,000

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Lookup Realty named to REAL Trends America's Best List

Lookup Realty the owner operator of SDLookup.com was named as one of America’s most productive Real Estate teams as a part of REAL Trends America’s Best Real  Estate Agents the newly issued ranking report produced by REAL Trends and produced in partnership with Trulia.  REAL Trends America’s Best Real Estate Agents ranks over 9,500 residential real estate agents solely based on their excellence in real estate sales during calendar year 2013. All production numbers are independently verified by a third-party in order to ensure accuracy and report integrity. This group of highly successful real estate sales agents represents less than 1 percent of all real estate practitioners in the United States. The real estate agents are ranked in four categories: • Individual agent — Sales volume  • Individual agent — Transaction sides   • Agent team — Sales volume • Agent team — Transaction sides To qualify for inclusion, ...

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City Council Approves Big Castlerock Housing Development

City Council Approves Big Castlerock Housing Development 

The San Diego City Council has unanimously approved a housing development project at the San Diego-Santee border, which will eventually be either annexed into Santee or remain part of San Diego. 

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What is meant when a property is “Contingent?”

First the term Contingent or Contingency is used constantly during the course of a typical real estate transaction related to various conditions in the contracts we prepare for you as your Realtor.  However when the actual status of the property is listed as Contingent then the property is being sold as a short sale or possibly it's a probate sale. Most of the time it will be as short sale.  The phrase "short sale" comes from the situation where the seller owes more to their lender(s) than the home is worth in today's market. If the home were sold at the current market price the seller would be "short" at the closing to pay off the lien that the lender has on the property,  if there is a home equity loan on the home there will be two liens, one for each loan.   There is no time frame for a Contingent property to fall out of contract, but most contingent properties will do so in the first 60-90 days. Some even longer if there are two lenders involved in the short sale settlement. &n ...

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Why is the Inventory of Homes for Sale in Downtown San Diego so Low?

  As of June 12 in the 92101 zip code there were 286 listings compared to 513 listings June of last year. There are several possible reasons for the low inventory.    Sellers may be waiting for the market to go up before they list. Financial institutions are unable or unwilling to release distressed properties on the market. New home developers have not been building new condominium units with the more recent projects coming to the our market as rentals.       In some cases condominium projects such as Vantage Pointe were converted to rentals. Whatever the reason it all adds up to an inventory squeeze that is driving a significant change in the market.  In terms of prices comparing to June of last year the median sold price was $370,000 compared to this June of  $436,00 and increase of 18%.  Additionally the price for square foot is also up from $401 to $429. In such a competitive market it can be very frustrating to find t ...

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