SD Resident Dannecker & Associates May/June 2024

MARKET REPORT MARCH 2024

Source: Greater San Diego Association of Realtors®

MARKET

LET’S START A CONVERSATION ABOUT SAN DIEGO REAL ESTATE

The 2024 Spring Market has been nothing less than exciting and shocking at the same time. As mortgage interest rates continue to take buyers on a roller coaster ride into April, we’re seeing some new trends.

To take a step back and look at where we were coming from gives some perspective. In October of 2023, interest rates climbed above 8% for the first time in over 20 years. In December, rates started dropping with the Feds signaling that inflation was under control and was on a downward trajectory to their 2% target and they signaled up to 3 rate drops in 2024. This shift in tone from the Feds led to mortgage rates dropping to 6.6% in January and the San Diego Real Estate Market Absolutely started going gangbusters. With a limited supply of homes for sale and a surge of new buyers motivated by the lower interest rates along with the timing of Spring, which is the busiest season for San Diego real estate, the market was off to the races with multiple offers and solid appreciation in February and March.

At the end of March, the Feds reversed their tone based on some economic reports (mainly CPI, PPI and Retail Sales) and the message was that inflation was still rearing its head and interest rates were anticipated to be “higher for longer”. Now, we’re hearing rumors of the possibility of more rate hikes and of course the markets did not respond well. The 10 year treasury jumped up and subsequently the 30 year fixed rate mortgage climbed up

UPDATE

over 7% and peaked at 7.5% on April 25th. The prime Spring season came under attack by way of almost a 1% jump from the lowest rates of January.

What we’re seeing as we move into May is that the number of new listings are increasing because they are outpacing the number of new pending sales. There has been a consistent theme showing when interest rates exceed 7%, many buyers retreat and sit on the sidelines. The high price of homes along with the high cost of mortgages above 7% has shown to slow the market down.

What to expect moving forward? Values will likely show appreciation in April because the homes that sold in April went into escrow in March when rates and inventory were lower. Keep in mind that the April stats don’t come out until approximately 7-9 days into May.

Beyond that, I expect we’ll see values flatten out for the rest of the year unless or until we see a big pullback in rates.

Why? It always comes down to supply vs demand. Supply is outpacing demand, and new buyers are facing many more headwinds than new sellers.

Subscribe to our newsletter and bi monthly market updates —Chad Dannecker, San Diego Residential Real Estate Broker

2024 HAS PROVEN TO BE BUSY FOR DANNECKER & ASSOCIATES REPRESENTING BOTH BUYERS AND SELLERS!

• 42 Properties have been SOLD

• 12 Properties are SALE PENDING

• 5 Properties are FOR SALE

• 2 Properties are COMING SOON

• 5 Listings serviced with Painting, Flooring Staging & more!

• Showings Everyday Throughout San Diego County!

• Resulting in Happy Clients and Great Relationships!

Chad Dannecker (DRE# 01459513) (619) 618-2264 • welcometosandiego.com

• Your home will gain prioritized exposure by potential buyers when they search for properties on Zillow with over 226 million average monthly unique users.

• Your listing will receive dedicated, branded “new property alert emails” sent to interested buyers.

• With a very limited number of Showcase listings in San Diego, your home will stand out with best-in-class media like high-resolution photography, interactive floor plans, room-by-room photo organization and virtual tours now with Apple Vision Pro to impress potential buyers.

Ask us about featuring your home as a zillow showcase listing (619) 309-8011

Every DANNECKER & ASSOCIATES Showcase listing features:

• High-Resolution Interior & Exterior Photography (50+ images)

• Virtual Tour to give buyers a sense of touring the home (now with AR on Apple Vision Pro)

• Interactive Floor Plans that connect the imagery to the location in the home

• Virtual Twilight to show your home in the best light. D&A the first team in San Diego to use Apple Vision Pro for an elevated 3D experience

• Photos of amenities like nearby parks, beaches, pools, spas, rec rooms, etc

• Social Media Videos featuring 30 second reels

• Professional quality full frame videos

HARBOR CLUB

Luxurious Downtown Penthouse Living with Exceptional Views!

AS-IS SALE

Ideal for a home in great condition, nicely furnished and ready to list.

Recommendations provided for de-clutter, furniture placement, cleaning and tidying-up.

Ideal for a home that might benefit from new paint, flooring, lighting, moderate landscaping, cleaning and staging.

We oversee and coordinate presale prep.

Designer consultation

Full scope of work including kitchen and bath remodel, new windows, paint flooring, landscaping,

and

Ideal for the seller looking for a quick, no hassle, cash sale.

Can be as discreet as you likeMLS input or open houses are up to you.

Spacious

Coastal LIVING IN PACIFIC BEACH

Enjoy Coastal San Diego Living At Its Finest! Spectacular Pacific Beach Meticulously Remodeled Beach Retreat! With over 200K in upgrades, this 2016 home has been beautifully enhanced with designer finishes throughout. Modern open concept living room, dining and kitchen flow seamlessly to the covered lanai for indoor/outdoor living. Inviting kitchen with stainless appliances, quartz countertops, breakfast seating, coffee bar and pantry. The family room can easily be an office or 4th bedroom. Sizable primary suite offers a balcony, spa-inspired bath and shower plus plenty of closet space. Two additional bedrooms - one with a view balcony, 1 full bath + 1 half bath and laundry room. Oversized 2 car garage with EV charging and room for golf cart! Fully paid solar, new HVAC system, custom lighting and window treatments, new landscaping/hardscape both front & back, salt water spa and so much more! Not to mention an ideal EZ in/out Pacific Beach location, walking distance to the beach, Kate Sessions Park, shopping restaurants and schools!

Open floor-plan dining room with additional seating at the bar counter.

Great location in Pacific Beach minutes from the beach.

Living room with tons of natural light and an electric fireplace.

ACTIVE REAL ESTATE LISTINGS BY DANNECKER & ASSOCIATES | COMPASS LIST

at

Sunny corner lot location, this home lives like a single level home with a primary suite + additional bedroom and full bath on the first floor!

Carlsbad - Treviso

Encelia Pl

Recently Updated! New Paint and Flooring Throughout! Spacious Split-Bedroom Floor Plan!

Spacious, updated condo with a convenient central San Diego, Mission Valley location with easy access to USD, shopping and more!

Desirable floor plan! Completely renovated! Over 700 SF of covered outdoor living space and panoramic views!

Hit a Grand Slam with this southwest corner unit with a generously sized balcony for taking in concerts or a Padres game!

Rolling Hills Estates! Updated, private, single level home nestled into an exquisitely landscaped, oversized lot with a pool and spa!

Poway - Rolling Hills Estates

Mira Mesa

11950 Thomas Hayes Ln

5 beds • 3.5 baths • 2,281 sq. ft.

Priced at $1,599,900

Updated one owner home, peaceful canyon setting with a first floor primary, pool and views!

Carlsbad - La Costa Greens

6895 Amber Lane

5 beds • 5.5 baths • 4,745 sq.ft. Sold Price $3,888,800

Magnificent Home with Amazing Westerly Views! Updated with Immaculate Attention to Detail!

Marina District - Horizons 555 Front St #1104

2 beds • 2 baths • 1,441 sq.ft. Sold Price $1,540,000

Expensive Remodel, No Expense Has Been Spared! Coveted Corner Unit with Panoramic Coronado, Bay & City Views!

BUYER & SELLER REPRESENTATION BY DANNECKER & ASSOCIATES

Chula Vista, Avalon, 1508 San Borja St #2

3 beds • 2.5 baths • 1,588 sq.ft. • Sold Price $715,000 Columbia District, TREO, 1240 India St #323

1 beds • 1 baths • 772 sq.ft. • Sold Price $555,000 Ocean Beach, Pt Loma Tennis Club

2 beds • 1.5 baths • 976 sq.ft. • Sold Price $685,000

Carlsbad, La Costa Greens, 6895 Amber Ln

5 beds • 5.5 baths • 4,745 sq.ft. • Sold Price $3,888,800 Marina District, Horizons, 555 Front St #1104

2 beds • 2 baths • 1,441 sq.ft. • Sold Price $1,540,000 Little Italy, La Vita, 1580 Union St #504

1 beds • 1 baths • 681 sq.ft. • Sold Price $611,513

Mission Valley, City Scene, 7067 Caminito Degrazia #167

2 beds • 2 baths • 1,046 sq.ft. • Sold Price $697,000

Oceanside, Brisbane, 638 Sumner Way #1

2 beds • 2 baths • 1,141 sq.ft. • Sold Price $580,000

Coronado, 528 E Ave

2 beds • 2 baths • 1,040 sq.ft. • Sold Price $1,220,000 Point Loma, 455 Silvergate Ave

6 beds • 7 baths • 5,319 sq.ft. • Sold Price $3,600,000 City Heights, 4205 45th St #4

2 beds • 1.5 baths • 930 sq.ft. • Sold Price $457,143 Moreno Valley, 27655 Gladstone Dr

5 beds • 3 baths • 2,841 sq.ft. • Sold Price $672,000 East Village, Trellis, 530 K St #213

2 beds • 2 baths • 943 sq.ft. • Sold Price $724,900

We would love for YOU to be our next HAPPY BUYER or SELLER. Contact Dannecker & Associates today!

At A Designed Space, we create vibrant and soulful interiors that enrich your life. We specialize in a unique look and feel that leans on colors and texture found in nature, and a design style that plays to opposites, blending modern with vintage, refined ease amidst artistic surroundings. Whatever the project, A Designed Space is focused on client service and will go the extra mile to bring our client’s design goals to life. HERE TO ENVISION THE POSSIBILITIES OF YOUR SPACE.

www.adesignedspace.com info@adesignedspace.com

PRESENTED BY DANNECKER &

Marea Riedler Founder-Principal Designer

“WHETHER IT’S MY FAMILY, FRIENDS OR CLIENTS, WE ALWAYS MOVE WITH GRIZZLY! PLEASE, TELL THEIR GREAT TEAM THAT I SENT YOU.” –CHAD

DANNECKER

GRIZZLY MOVING

Chad Dannecker & Associates PREFERRED MOVER is right here in San Diego! Whether you are moving across the county or from Point Loma to anywhere in the lower 48 states, you can take advantage of the excellent local & interstate service provided by the absolute best!

Grizzly Moving offers full-service local moving for both small and large loads. Our reliable moving service is suitable for any person, family, or company that needs to transport their furniture and belongings to a new home or place of business. With all the professional attention Grizzly gives to every client, you can rest assured that your belongings will be taken care of to a high degree no matter how little or much you have to move.

Our family-owned, licensed and over insured small business services include: local moving, long distance moving, packing & unpacking, storage in transit, office moving and supplies.

9557 Candida Street, San Diego CA 92126 (858) 341-4794 | grizzlymoving.com PRESENTED BY DANNECKER & ASSOCIATES

TheQwikFix is your one-stop-shop for home repairs from estimates to completion! With just the click of a few buttons, you’ll receive an itemized, accurate and actionable repair quote. Scan the QR code to submit a repair request, and a quote will be sent directly to your inbox! From there, you can edit your quote then ultimately hire licensed contractors directly from our platform to complete the work at the price we quote. Don’t let those pesky home repairs linger. Address them now so you can enjoy a stress-free summer!

| (877) 930-5844 | www.TheQwikFix.com

“It’s amazing how quickly buyers and sellers can get reliable quotes for work so they know how to navigate their position moving forward in a timely manner during a sale” —CHAD DANNECKER

SUNRUN SOLAR

Rechargeable Solar Battery System

Control your energy and savings with Sunrun’s solar power & smart battery solutions.

Enjoy safe, clean, and reliable backup power to keep your home poweringforward in the event of a blackout. For more information on storing your own power and not relying on a 150-year-old grid, call Mark Frapwell from Sunrun today!

TAKING PRIDE IN THE REVITALIZATION OF SAN DIEGO HOMES

The team at Hawthorn & Albatross is nothing short of exceptional. They consistently deliver a top-notch renovation experience, earning them an A+ rating and a well-deserved 5-star reputation. Whether you’re working with them as a buyer, seller or real estate agent, they have mastered the art of creating a seamless and efficient renovation process that fosters a sense of unity among all involved. Their responsiveness and commitment to excellence to deliver quality work is truly commendable. I take great pride in partnering with them to contribute to the revitalization of San Diego homes.

9815 Caroll Canyon Rd, Suite 206, San Diego 619) 961-3070 | hawthornandalbatross.com PRESENTED BY DANNECKER & ASSOCIATES

WHAT OUR CLIENTS ARE SAYING ABOUT US!

Over 500 - 5 Star Reviews

H H H H H

At Dannecker and Associates, our top priority is to ensure our clients are extremely satisfied. We’re committed to providing exceptional experiences for those involved in buying or selling homes. Don’t just take our word for it – see what our valued clients have to say about their experiences with us!”

Chad Dannecker

Columbia District

We made a great decision in choosing to work with Chad, his team, to sell our home.

- Great market perspective and knowledge of the downtown SD area.

- Excellent in crafting a sales strategy to meet our objectives.

- Very effective and efficient in managing the entire process from preparing to list, staging, fielding offers, negotiating, and closing. We couldn’t ask for a better sales experience.

Steve Beaupre

South Park

Steve helped me and my wife buy our first home, and we are so happy! Super knowledgeable of all the neighborhoods. As first time buyers, we had lots of questions and Steve was very responsive and thorough in explaining things. When we first toured our eventual house, we didn’t even think it was in the realm of possibility. The house was so beautiful and everyone seemed interested. Steve helped us put together a competitive offer and navigate negotiations. We always felt in great hands with Steve.

Jen Lange

Oceanside

Jen was an absolute wonder to work with in finding our home! From the first time we met to closing, she was on top of everything and the attention to detail was top notch. We worked with Jen for close to 2 years and in the beginning of the process, I told her we were just browsing and weren’t ready to buy another home. She was very patient with us as we browsed and always checked in to get a pulse for where we were. When we were ready to finally dive deep into making offers, she was ready to hunt! She went above and beyond to help us search, make offers, negotiate, and inspect! We couldn’t have closed on our dream home without her and we are so thankful for her help. Highly recommend her as a Relator and as an advisor for your next home! You won’t be disappointed!

Arlis Travis

Tierrasanta

Arlis was stellar! She worked hard non-stop till we got what we wanted, she would not rest till she knew we were happy! Negotiation skills like I’ve never seen! She knows this market unlike anyone else and taught us so much about the process for our first house. Definitely recommend whether you’re new to San Diego and buying or experienced and know what you want, she’ll take a different approach for each person.

CALENDAR

May 30

OCEAN CONNECTORS MISSION BAY KAYAKING ECO TOUR 1775 E Mission Bay Dr., San Diego, CA 92109 oceanconnectors.org

Take a guided kayaking tour through Mission Bay starting from Paradise Point Resort & Spa or Mission Bay Resort. See marine life, as well as native and migratory bird species as you kayak through this iconic San Diego spot. Also, learn about local conservation efforts and Ocean Connector’s mission.

May 31-June 1

NORTH PARK MUSIC FEST

3812 29th St, San Diego, CA 92104

northparkmainstreet.com

On Friday, May 31 from 4 p.m. to 10 p.m. and Saturday, June 1 from 12 p.m. to 10 p.m., the North Park Mini Park and surrounding streets will be transformed into a music venue, art gallery, and food festival all rolled into one. So call your friends, bring your kids, and come listen to some of Southern California’s raddest bands in the heart of San Diego’s most eclectic neighborhood. Find the full lineup of bands and more below, and get your tickets today!

May 18

HILLCREST CLASSIC CAR SHOW

Normal St. south bound between Harvey Milk St. & University Ave. fabuloushillcrest.com

Since the summer of 2017, classic car enthusiasts have gathered on Normal Street between University and Harvey Milk on the 3rd Saturday of the month to show their vehicles and do some tire kicking. All are welcome!

June 6

WALK IN ART 2024

Alleyway at 400 block of University Ave.

fabuloushillcrest.com

Expect a night filled with lively entertainment, art, food, and music in and around Mural Alley. Find an Art Market featuring unique vendors, creative food offerings with a range of delicious dishes, music, and surprise performances.

PADRES HOME GAMES

May 13 Colorado Rockies @ San Diego Padres

May 14 Colorado Rockies @ San Diego Padres

May 15 Colorado Rockies @ San Diego Padres

May 24 New York Yankees @ San Diego Padres

May 25 New York Yankees @ San Diego Padres

May 26, New York Yankees @ San Diego Padres

May 27 Miami Marlins @ San Diego Padres

May 28 Miami Marlins @ San Diego Padres

May 29 Miami Marlins @ San Diego Padres

June 6 Arizona Diamondbacks @ San Diego Padres

June 7 Arizona Diamondbacks @ San Diego Padres

June 8 Arizona Diamondbacks @ San Diego Padres

June 9 Arizona Diamondbacks @ San Diego Padres

June 10 Oakland Athletics @ San Diego Padres

June 11 Oakland Athletics @ San Diego Padres

June 12 Oakland Athletics @ San Diego Padres

June 20 Milwaukee Brewers @ San Diego Padres

June 21 Milwaukee Brewers @ San Diego Padres

June 22 Milwaukee Brewers @ San Diego Padres

June 23 Milwaukee Brewers @ San Diego Padres

DANNECKER & ASSOCIATES |

AGENT OF THE MONTH

Steve is a dedicated San Diego real estate professional known for building strong relationships. With a background in negotiation and a commitment to service, he employs creative strategies to help clients achieve their goals. Steve’s extensive experience in real estate, coupled with a passion for architecture and design, sets him apart. As a longtime resident of various San Diego neighborhoods, he understands the value of property ownership and aims to guide others in achieving it. Steve, currently residing in La Costa with his wife, two sons and pup, is not only a skilled professional but also an avid surfer, foodie, automobile enthusiast, and adventurer who enjoys exploring Southern California with his loved ones.