How to know if San Diego home prices will increase or decrease
George Lorimer
Monday, March 25, 2024
How can you determine if San Diego home prices will increase or decrease?
A simple way is to compare the ratio of supply to demand.
If the supply of homes exceeds the demand from buyers, the prices will go down. If the buyer demand for homes exceeds the supply of homes, the prices will go up.
For San Diego Housing
The hottest segment for San Diego housing is the $500,000 to $750,000 segment, with supply equaling demand and 30 days of inventory available (hot seller’s market).
Get your free home value here.
The coldest market is the $6 mil+ market, with 125 homes and only 10 sold in the last 30 days, so there are 375 days of inventory.
Most San Diego areas have 1.5 months of inventory, property types, and price ranges.
Example
This means that if there are 45 homes available for sale, 30 sell a month, so the supply of homes will be sold in 1.5 months. Again, this is considered a seller’s market, and San Diego home prices are likely to increase.
If you would like to talk about selling your current home or buying a San Diego home, call or text me today – George Lorimer at 619-846-1244
The chart below features all property types. SDMLS.com
A simple way is to compare the ratio of supply to demand.
If the supply of homes exceeds the demand from buyers, the prices will go down. If the buyer demand for homes exceeds the supply of homes, the prices will go up.
For San Diego Housing
- The supply of homes under 3 months is a seller’s market.
- The supply of homes for 3-6 months is a balanced market.
- The supply of homes for over six months is a buyer's market.
- Right now, the supply is 1.5 months. A Seller’s Market.
The hottest segment for San Diego housing is the $500,000 to $750,000 segment, with supply equaling demand and 30 days of inventory available (hot seller’s market).
Get your free home value here.
The coldest market is the $6 mil+ market, with 125 homes and only 10 sold in the last 30 days, so there are 375 days of inventory.
Most San Diego areas have 1.5 months of inventory, property types, and price ranges.
Example
This means that if there are 45 homes available for sale, 30 sell a month, so the supply of homes will be sold in 1.5 months. Again, this is considered a seller’s market, and San Diego home prices are likely to increase.
If you would like to talk about selling your current home or buying a San Diego home, call or text me today – George Lorimer at 619-846-1244
The chart below features all property types. SDMLS.com
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