June 2020 Real Estate Market Update
Covering North San Diego Count Detached Homes
Data from 5/1/20 - 5/31/20
Attached is the most recent real estate market update for North San Diego County. In general the market has remained pretty strong in spite of everything going on in the world, especially at the lower to mid level price points.
Homes in the lower to mid value ranges are selling quickly, many times with multiple offers. Homes in the upper value ranges are taking much longer to sell and the activity is not as brisk.
A big reason for this is financing. Rates are at near historic lows for conventional and conforming loans, but the jumbo loan market is different. Loans over $701,000 are being scrutinized much more heavily and not as much financing is readily available. This “drying up” of financing at the upper level has really slowed activity down in that price point.
If you are thinking about selling right now it can be a GREAT time to do so at the lower, entry to mid level price points. If your home value is higher you can expect it to take longer, you can expect less competition, and you may need to adjust your pricing to attract more buyers.
If you have any questions about how this impacts your specific scenario please call or email and I would be happy to help further.
Thank you for watching!