The current number of listings on the market are 20% lower than this time last year, while the amount of homes pending is up 20%.

What does this all mean for the San Diego Real Estate Market? San Diego real estate agent Clayton Connolly, breaks down the current state of the market for the month of March 2021.

Real Estate Market Update for March 2021

I just wanted to give you a quick market update for the month of March. Here's what's happening. Currently, the amount of listings that are on the market are 20% lower than this time last year. That means that there's less supply. Additionally, the amounts of pending sales, homes that are in escrow are up about 20%.

What does that mean to everybody? That means that there's less supply and more demand and that is making prices continue to go up. Currently we're experiencing about 12% appreciation over this time last year. And, that also is projected to continue to go up and throughout the year as well. People ask me, when are prices going to go down?

The answer professionally, I'm not sure they're going to for quite a while, all indicators show that people want homes right now, people are making moves. And, until we have more inventory on the market, prices are going to continue to go up. What does that mean for you?

If you're considering making a move this year, I would love to schedule some time for a one-to-one sit down and explore more about your hopes, goals, wants, needs, timeline, budget, all that important stuff. Figure out a perfect plan for you as it relates to our real estate market in 2021.