San Diego County Housing Report: Different Flavors of the Market, June 9, 2023
The San Diego County housing market differs for every price range; some are hot, while others are not.
Call George to see what the buyer demand is for your home at 619-846-1244.
Price Range Differences
The market is scorching in many price ranges, but the luxury end is the most significant exception.
What's your home worth?
The FOR-SALE sign is pounded into the front yard of a detached home listed at $1 million. It is in mint condition, nicely upgraded, on a beautifully landscaped, small lot. During the initial weekend, the Saturday open house is a success, with buyer after buyer bumping into each other to see the home. By Tuesday morning, the listing agent is sorting through ten offers to purchase the home. By the week's end, the seller agrees and accepts an offer at $1,025,000 that closes in 30 days, $25,000 above the list price.
An extensively upgraded luxury home is placed on the market with an entertainer's yard and panoramic canyon views and is listed at $2.5 million. Seven different buyers tour the home in the initial week. Quite a few people come through the weekend open house. The first week's activity is solid, yet no offers are generated. It is not until after surpassing the two-month mark that the sellers entertain their first offer. There had been some interest, but nobody was ready to step up and write an offer to purchase. A few days later, after back-and-forth negotiations, the seller agrees and accepts an offer at $2,325,000 that closed in 60 days, $175,000 less than the list price.
These two scenarios occur in San Diego County and are typical for their specific price ranges. Yes, the market is HOT, but the higher the range, the longer it takes to sell a home. The "FLAVOR" of the market depends upon a home's price point. Get the full report.
The San Diego County housing market differs for every price range; some are hot, while others are not.
Call George to see what the buyer demand is for your home at 619-846-1244.
Price Range Differences
The market is scorching in many price ranges, but the luxury end is the most significant exception.
What's your home worth?
The FOR-SALE sign is pounded into the front yard of a detached home listed at $1 million. It is in mint condition, nicely upgraded, on a beautifully landscaped, small lot. During the initial weekend, the Saturday open house is a success, with buyer after buyer bumping into each other to see the home. By Tuesday morning, the listing agent is sorting through ten offers to purchase the home. By the week's end, the seller agrees and accepts an offer at $1,025,000 that closes in 30 days, $25,000 above the list price.
An extensively upgraded luxury home is placed on the market with an entertainer's yard and panoramic canyon views and is listed at $2.5 million. Seven different buyers tour the home in the initial week. Quite a few people come through the weekend open house. The first week's activity is solid, yet no offers are generated. It is not until after surpassing the two-month mark that the sellers entertain their first offer. There had been some interest, but nobody was ready to step up and write an offer to purchase. A few days later, after back-and-forth negotiations, the seller agrees and accepts an offer at $2,325,000 that closed in 60 days, $175,000 less than the list price.
These two scenarios occur in San Diego County and are typical for their specific price ranges. Yes, the market is HOT, but the higher the range, the longer it takes to sell a home. The "FLAVOR" of the market depends upon a home's price point. Get the full report.
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