2021 San Diego Housing Market
September 10, 2021
Local San Diego Housing Market Snapshot
The word on the street within San Diego Real Estate circles is that there are already signs of “the market shifting.” Here is a short summary of what is happening in the San Diego Housing Market right now.
The shift that I am starting to see isn’t what most people think it is. Despite what you have heard, this current shift isn’t housing prices falling out and deals galore for buyers. This change is subtle and slow-moving over time. We are still in a seller’s market, yet the frantic and crazy pace we saw 1-2 months ago is fizzling out.
A house might not sell in 3 days after being listed on the market and exposed to buyers for only a weekend. Instead, it might take two or three weekends to find a qualified buyer. Homes that are overpriced will have to reduce their asking price, and the number of homes coming back on the market has increased.
The truth is that there currently is more supply and slightly less demand. That change means not as many showings, not quite as many offers, and sales prices not quite as much above their list price.
San Diego is made up of multiple different markets. These different communities are not a one size fit all, they meet buyer’s specific needs. Please share this with someone who is thinking about buying or selling in San Diego. I feel that with more knowledge people can make informed decisions.