May 03, 2021

How is the San Diego Real Estate Market? It's CRAZY.

Clayton Connolly compares leading market statistics from March 2020 (when COVID shut San Diego down) to final numbers in March 2021 and was honestly surprised. The April 2021 housing market is busier than expected and we have LESS homes for sale than last year.

What does this mean if you are looking to buy a home or sell a home in April 2021 in San Diego? Clayton Connolly goes over the stats and explains it all.

San Diego Real Estate Market Update

Clayton here, and I'm excited to share with you our most recent market update. Something very interesting to consider is last year at this time we were all on lockdown. So when we compare 2020 stats right now to 2021, it's quite interesting.

Current State of the Market

The first thing to note is that during lockdown there weren't a whole lot of listings last year. Now we fast forward to this year when we think that there would be a lot more now that the market is hot, and it's actually less. So let's think about that for a second. During lockdown and COVID, compared to this year, there are 7% less listings.

That speaks to what I've been talking about all year, the supply and demand crunch, which basically means there's little supply and big demand. On the demand side, we're about 56% up in pending sales. Those are sales where people are in escrow right now. It's a very on the cusp leading indicator of the market.

So what does this mean?

For buyers, this is a really good time to purchase, because interest rates are low, and although the competition is fierce, appreciation keeps going up, it's projected that maybe on average, 2% a month. Over the course of the year that's quite a lot of appreciation, so that's why we're noticing buyers wanting to get into the market now. For sellers, it's a good time to sell because in a seller's market you're in charge. You get to call the shots. Now we're noticing some people are leaving the state, and if that is you,

I'd love to be able to help you find an agent in wherever it is you're going to land and make sure that that becomes seamless. And if you're planning on staying here locally, we have amazing programs to help you with the buy, sell simultaneous process. And I'd love to talk about it with you if you're a buyer or seller. That's that, I'm here when you need me. And I'd love to talk to you more about real estate in San Diego, thanks a lot.

If you have more questions about the market is doing you can reach out to Clayton at 619-204-9593

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