Stay Calm BUT…
…San Diego Real Estate Prices Continue to Rise
It’s no secret that people want to live in San Diego. In January, people in cold weather climates watch enviously as expert golfers play under sunny skies, and next to blue ocean waters, at Torrey Pines during the Farmer’s Open. Relatives joke that our weather people have the world’s easiest jobs, “75 and sunny” every day.
However, even with the always-interested buying community, San Diego property prices have been rising dramatically in the past few years and continue to do so. In fact, between December 2015 and 2016, the market saw a 5.4% price increase. And by January of 2017, the increase was 7%. Today, the average median price of a home in San Diego County is $495,000. In the desirable North County costal communities like Del Mar, Rancho Santa Fe and La Jolla, it is much, much more.
Despite these increases, most experts feel this is a natural value appreciation that is appropriate to the homes and investments people make here. And they expect that prices will keep increasing. As San Diego adds lucrative jobs in markets like tech and science, the cycle of supply and demand means the housing prices will continue to rise.
A competitive market, fast moving listings, and a bevy of interested buyers can be intimidating, and makes finding the right real estate agent all the more key in a home buying search. Someone that understands needs, and is able to communicate clearly can make all the difference. The forecast shows that San Diego is not expected to become any less popular in the coming years so savvy buyers should be ready to move when the “right thing” comes along.