By Denise Matthis
San Diego Housing Market Statistics for Q4, 2012
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t’s been a frantic ride for the real estate world all over the United States and San Diego is not exceptional. The city has been in the leading list of the most booming real estate markets. Recently, the market has shown some signs of cooling off giving investors a sign of relief. Well, I can’t for sure tell if the market will shoot even higher or go back to the pre-pandemic mode from the recent stabilization. Here is what San Diego Q4 has in store:
HOUSING INVENTORY The house Inventory drastically decreased from the beginning of the pandemic to April this year when they started to steadily increase.As per Federal Reserve Bank, there were 640, 716 active listings in September. The average number of days homes stay in the market is 1.7 months a clear indication that the housing demand in San Diego is still higher than the supply. With no doubt, San Diego is a sellers’ market and there’s no likelihood of a shift this fall. There is a likelihood of inventories increasing in Q4 as more homeowners will list their homes and new comes might come to the market. This is possible if at all the Covid 19 vaccines become common. HOME PRICES San Diego is amongst the top five most expensive states in California due to its high median home prices. Home prices have been rising since last year but peaked in June this year and since then, there has been a steady decline. The median listing price as of October is $ 957,000 a 19.6 percent increment over last year. Home prices are inversely proportional
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