The San Diego Real Estate Market continues to be fantastic for sellers and quite challenging for buyers. The inventory of homes for sale of 2,391 is down substantially from a year ago. The average sold price of $850,000 is up 15% year over year. Finally days on market which tells us how long it takes for inventory to go into pending status is a short 20 days which is eights days faster year over year.
The market is clearly a sellers market. The best positioned sellers in our market are home owners that are selling without a contingency to purchase the replacement home as cash non-contingent buyers dominate the multiple offer scenario found in the typical listing.
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