San Diego’s real estate inventory at less than one month?
September 29th, 2009 Categories: Client Testimonials, Real Estate News, San Diego County Community News, San Diego county Real Estate News
SAN DIEGO- I received an email from a client this morning in which they expressed concern that my home search notification was not working as they had not received any updates since last Saturday. Knowing that ‘things happen’ I checked out their profile and delivery information which was all accurate and the expiration date of the search was still current.
The area search parameters for this particular client are pretty large in scope. We are using a map overlay from the 15 down the Sorrento Valley traffic corridor to the coast up to Carlsbad. While on the coast it does only run about 5 miles inland, but this is still a fairly large slice of real estate.
For the home itself, we have detached and attached with a garage, one or two car attached or detached, at least 2 bedrooms and 2 baths and no less than 1100 square feet in size up to $450,000. Now that is not asking alot! Consider the average home price in San Diego for August 2009 ranges from $255,000 in the South Bay area to $450,000 in the North County coast region.
So the culprit was not the system, it was the simple fact that there have not been any new listings for the system to deliver. Currently in their search there are only 40 active listings, yes only 40, and that represents less one month of inventory which is currently running at 49 sold homes a month. According to Housingtracker.net, the number of active listings in August 2008 were 11,774 versus 20,748 in August of 2007. This is definitely a seller’s market and may be a great window of opportunity if you are looking to sell.
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