Housing Supply Overview

The housing and stock markets continue to be the leaders in the economy. In August, showings and pending sales remained at strong levels. Housing inventory remained + 27.9% + 4.5% limited in many segments, continuing the competitive bidding we have seen across much of the market in recent months. Nationally, the Commerce Department and U.S. Housing and Urban Development report total housing production is up 22.6% to a
seasonally adjusted annual rate of nearly 1.5 million units, the highest rate since February. According to the National Association of Home Builders estimates, lumber prices have surged more than 110% since mid-April, adding approximately $14,000 to the typical new single-family homes. For the 12-month period spanning September 2019 through August 2020, Pending Sales in the San Diego were up 2.0 percent overall. The price range with the largest gain in sales was the $1,250,001 to $2,000,000
range, where they increased 27.9 percent.

The overall Median Sales Price was up 5.7 percent to $608,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 5.8 percent to $682,500. The price range that tended to sell the quickest was the $500,001 to $750,000 range at 25 days; the price range that tended to sell the slowest was the $5,000,001 and Above range at 103 days.

Market-wide, inventory levels were down 44.8 percent. The property type with the smallest decline was the Condos – Townhomes segment, where they decreased 30.2 percent. That amounts to 1.3 months supply for Single-Family homes and 1.7 month supply for Condos.

If you would like to sell your house in San Diego, contact local San Diego Real Estate Agent.


Tips for Selling Your San Diego Home

If you are planning to sell your San Diego Home this year, it is key to have a strong understanding of this year’s basic market trends to make sure you can sell quickly and get the best possible price. 

“Election years mean uncertainty to a housing market,” San Diego Real Estate Agent Mark Kunce told us. “If you are concerned that the election could potentially throw a wrench in the market, [spring and early summer] will be early enough in the year to get the house sold before wild speculation starts breeding fear in home buyers.” 

No matter when you decide to sell your home, you have to make both its interior and exterior look appealing to the greatest number of people. You do this through a process called staging, which involves making any necessary home improvements, whether for looks, safety or efficiency before buyers come to view your home. 

Unlike San Diego Home buyers, who want to minimize competition, sellers benefit from demand. Prime home-buying season begins in April and reaches its peak in June, according to analysis of home sales. Sellers who list their home during the prime spring and summer months benefit from a larger population of buyers and potential bidding wars, which often result in higher prices and faster closings.


San Diego Home Selling Tips and Advice

To sell your San Diego home fast, you have to take an active role in the process. Don’t sit back and wait for the buyer who can see past potential flaws. Do your homework, make fixes, and go out of your way to show just how great your property is. Here are 5 tips to guide you through the process.

  1. Remove clutter: There is a beautiful world of freedom and fresh breath hiding behind that clutter. Deciding how to declutter your home is up to you.
  2. Light it up: Open all the curtains and blinds, turn on all the lights and look at each space through the eyes of a buyer.
  3. Hire local real estate agent: Like any employer who interviews potential candidates for positions within their company, a seller should interview local real estate agent(s). Don’t hire a Los Angeles agent when you are looking for Palm Springs Real Estate Agent. Don’t hire a Riverside Real Estate Agent when you are looking for San Diego Real Estate Agent.
  4. Stage the home: When you’re selling your home, you want it to look its absolute best for the potential buyers who walk through the door. 
  5. Hire professional photographer: Amazing real estate photos actually do have a major effect on your home sale, so don’t you think that blurry iPhone photos will cut it.

Lighting Tips to Help Sell Your San Diego Home


Lighting Tips to Help Sell Your Home

March 22, 2019

Unique light fixture

You’ve found the right real estate agent.
You’ve repaired or replaced everything that needed fixing.
You’ve covered the three D’s of home staging—Decluttering, Depersonalization and Deep cleaning.

Finally, it’s time to put your home on the market. But, wait! There’s one often-overlooked detail that could sabotage all your hard work: the lighting.

In the game of First Impressions, a poorly lit home is at an automatic disadvantage. Darkness can make a home feel small, uninviting and dirty, even when it isn’t. Worse, a potential buyer may wonder what flaws are lurking in the shadows.

Now, lighting design is a topic that could fill its own blog, but here are some basic tips to help you make a bright, energizing impression at your next home showing.

Do a room-by-room light audit.

Open all the curtains and blinds, turn on all the lights and look at each space through the eyes of a buyer. Use your camera if it helps you make note of any areas that need help. Keep in mind that showings may happen at different times of day, so it’s good to repeat the exercise in the evening, when there’s less natural light.

Address non-lighting light problems.

Sometimes “lighting problems” are actually décor problems. Dark furnishings, wall colors, flooring and even ceiling colors can make a room seem dark no matter how much light you pour into them. If you don’t have the time/budget/desire to paint or replace these things, here are some lower-commitment options:

  • Use light colored bedding, throws, slip covers, drapes, area rugs and other room-appropriate accessories to brighten the space.
  • Mirrors can reflect available light and make a room feel larger and more open. Try adding them to rooms with inadequate windows.
  • Add light sources that can wash across dark walls. The diffused light can add to the ambient illumination and give the eye a little help when assessing the room’s true dimensions.