San Diego Showings reflect in Sales
San Diego home showings have been on the rise since December, and the Sales have caught up! Overall inventory is down in most areas of San Diego. We are seeing increased demand from buyers due to extremely attractive interest rates. Showing Suite data shows the impact the increased interest translated to increased showing activity which lead to sales. Sellers have sat on the sidelines unless forced to sell under sometimes distressed situations. While prices are slow to catch up to the year over year value decreases, time on market is also decreasing. This is positive for sellers no matter what your circumstances.
We are seeing the Spring Frenzy similar to years past, before the bubble burst! Though the increased demand is working against buyers in need of financing. Cash is King and the cash buyers are coming out of the wood work to find a deal. Cash buyers have been steering the market for sometime, once driving prices down, and now driving the market through inventory. Often with multiple offers to consider, if there is a choice between cash and financing, cash will win most of the time. Buyers no longer have the luxury of ‘sleeping on it’ and spending time considering their options. If you are in the market to buy, and see something that meets your needs and you can afford, RUN, don’t walk, because it won’t last long! Sellers, though prices will not recover for sometime, if you have been thinking of selling, now is as good a time in the past 5 years to list your home on the market. If priced right, and prepared for the market, you will have buyers knocking down your door, and helping you pack. Selling low, also means, you can buy low. Whether downsizing or climbing the property ladder, there are still deals to be had! You just won’t find them sitting on the sidelines.
Contact me and you’ll be glad you did!