If the latest stats are any indication, now’s a good time to buy or sell in our market.
What’s the latest news from our summer market? Let’s take a look at the month-over-month statistics from the end of June for detached homes across North San Diego County.
- The median home price rose $30,000 to $760,000, which means more homes are selling at a higher dollar amount than a lower one, and homes values, in general, are trending upward.
- The average days on market was 32 days, which was a one day drop from the previous month. This means homes are selling quicker.
- The housing supply was at three months—a rise of 0.1 months.
- There were 1,022 total homes sales—a decrease of 66 homes.
- The average interest rate for a 30-year fixed conventional loan dropped from 0.2% to 3.82%.
What do these stats mean? The drop in interest rates is a big reason home values have risen, fewer homes have sold, and they’re doing so at a quicker rate. More people are entering the market, which makes now a good time to sell. Because interest rates are so low, it’s also a good time to buy.
If you have any more questions about our market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me any way you can. I’d love to help you.