January 2021 Real Estate Price Report - North San Diego County
Wow!! What a crazy 2020!!
First of all, I hope you and your loved ones are safe and your New Year is off to a good start. In spite of everything going on in the world, the real estate market in North San Diego County has been, and continues to be, on fire. If you are a home owner or a home seller you should be tickled at the appreciation and as long as you don’t do anything foolish like cash out your equity and blow it on material things your NET worth just took a very nice tick up. If you are a home buyer you need to be PATIENT, this is not the time to make low offers and look for a great deal. If you see a home you love you need to make good offers right off the bat and move quickly or someone else will and you won’t get the house. Yes, it is that kind of market right now.
Please click the video picture to see the short/condensed market update and price report covering price only, or click HERE to see the longer video where I dive deeper into the inventory levels, time on market, etc.
Here are a few stats on the current market.
- The average sales price is up ~19.2% year over year for detached homes in North County. This time last year it was around $873,000, it is now around $1,040,000. (not all price levels and areas are the same, this is the average across North County)..
- Available inventory or homes on the market has gone down over 62%% from 2,402 homes to 900 homes. Holy cow that is low!
- On average homes are selling in just 22 days, about 48% faster than this time last year.
- The 30 year interest rate is at a historic low, hovering around 2.7% at the end of 2020.
The market needs your home. If you are thinking about cashing in on this appreciation and selling while values are high please give me a call and I will show you how we can squeeze every dollar of equity out of your home for you.
For more details either give me a call, send me an email, or simply CLICK HERE to complete a contact form and include a short message with some details.