July 18, 2024
San Diego home sales
San Diego home sales

In a report issued by MDA DataQuick, July  San Diego home sales were up by 11% from the same period a year ago.  This should come as no surprise as many first-time buyers have been enticed by an $8,000 federal tax credit, interest rates around 5% and a California  new-home buyer’s credit.  The San Diego median home price was$320,000, up from $280,000 in January.

The best summation of the San Diego housing market was a statement by Andrew LePage, a MDA DataQuick analyst:  “Overall, prices still appear soft, they’re not plunging anymore, but I also don’t see them climbing consistently month over month in most areas. When they climb, it’s pretty minor. They’re flat, at best, in most cases.”

The first time, lower end properties are generating the most interest. It is quite common to see multiple offers and properties selling for at, or over, the listed price in the first time buyer market segment. The majority of the offers are FHA with 3.5% down.

San Diego real estate agents

3 thoughts on “San Diego Real Estate Sales Uptick

  1. Recovery will start after the election. I do believe that you cannot expect rapid growth for a number of years, however normal growth on a smaller scale is very doable. I believe it will vary from region to region and even from neighborhood to neighborhood in many instances in large cities as this really is a local business.

    San Diego real estate agents

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