1 Minute San Diego Market Update [Jan24]

The real estate market in San Diego County is currently favoring sellers, with low inventory and homes selling quickly. Sellers are receiving offers close to their asking prices, and the median sold price is $850,000. Buyers can expect competition and potential price hikes but can benefit from working with a knowledgeable agent. Good day, buyers and sellers. I'm Kat Josephowski with Coldwell Banker Realty. And today let's dive into key real estate metrics for our market update. The month supply of inventory is at 1.17 showing a competitive seller's market where homes are selling quickly. Over the past year inventory has decreased by minus 7.87% emphasizing the advantage for sellers. Homes are listed for an average of just 18 days indicating high demand and fast sales and sellers are receiving offers close to their asking prices with lists sold price percentage of 99.5%. The median sold price stands at $850,000 throughout San Diego County illustrating a higher price range. In summary, sellers enjoy low inventory, quick sales and favorable prices and buyers should anticipate competition and potential price hikes but working with a knowledgeable agent can lead to success. For tailored insights feel free to reach out to me. Thank you so much for tuning in and may your real estate endeavors thrive.