The Latest News & Notes From Our Summer Market

Coldwell Banker Realty - Casey Cooke

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%. “You know as an educated home shopper, that an interest rate of 3.82% is going to allow you to afford more home.” 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.