Has the real estate market recovered here in San Diego? San Diego Real Estate Market Headed Up? If you believe some of the recent numbers it’s hard to argue. It appears San Diego is heading in the right direction. According to a recent report by Zillow San Diego leads the country in appreciation over the last 12 months at 3.7%. 1.3% for the quarter and 0.4% for the month. Not bad compared to many other markets. If I was in the market to purchase and I was waiting for the right time, I would really think hard about buying right now. I think we have reached the bottom and are moving back up in the right direction. We are not going to see huge double digit appreciation but I believe that we will see a slow steady recovery.
There is always a chance home values could slip and decline a bit but I wouldn’t expect to see much if any for San Diego County.
San Diego Real Estate Market Headed Up? For a complete report and to see the statistics for every city in the county you can view the report on Zillow’s website here.
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Alex, have the Zillow numbers been confirmed/verified by your local board? I ask as Zillow has proven to be inaccurate at times.
Anyway, that sounds like great news for your area. I would love to see a post further relating your market’s activity for the past month (specially if compared for the previous month and for the same month last year). Have you seen much activity based on the CA tax credit?
Speaking from personal experience, and I believe every Realtor in San Diego will confirm; during the last 6-9 months every listing that I put on market is getting Multiple Offers and is pricing is being pushed to unexpected levels. Example a small house in nice neighborhood recieved 22 offers in first few days and ended up going to escrow at 22% above the list price. Our biggest problem is getting appraisers to catch up with increasing values.
This gives me hope, because this may lead to good changes in other parts of the country and also of the world.
I’m glad that the real estate market is doing so well there. I hope that the New York real estate market follows your lead. We are doing much better than most, but…..I still miss the old days. Oops, I think I actually let you know how old I am. LOL
Alex, thank you for this information. This is really a good news for “Real Estate Agents” in San Diego…I hope other markets also improve. During the recession, we were really into the bad shape. This is the good opportunity for all real estate professionals out there in San Diego to recover whatever happened during recession period. My best wishes to San Diego Real Estate Professional!
Regards,
Boris
Real Estate really is having a big part on the business world, on real estate, selling is not as easy as eating peanuts, you need to have the guts, proper marketing and being honest on what you are selling but definitely real estate is really a great investment because it gives a lot of opportunity.
I think that the economy is headed in the right direction and the market is going to get better. I still worry for those who have lost before the upswing.
I hope we see it continue in the right direction… but I have the feeling it’s a false bump caused by a lack of inventory. We’ll see though… time will tell.
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Hearing that real estate in San Diego is appreciating is a great thing. I wonder when we will see that in other markets that were hard hit.
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It does seem to be flattening for most of the regions. It is too early to say and should get clearer over the next few months. Good to see San Diego doing well.
San Diego is the ninth largest city in the United States,also second-largest city in California.I’m glad that the real estate market is doing so well there ,this may lead to good changes in other parts of the country and also of the world.
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With the oil spill affecting the Gulf and probably the east coast over time, I wonder if people may start looking at southern California again for beachfront property. I think Texas is a no-brainer as we area clear of the oil.
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I really hope that this is true! It would be great for business and a clear signal that the economy is rising. Myabe slowly yes, but still growing.
Thanks for the info, Alex!
I was in SD last summer looking at some properties downtown. What a nice area. It is good to hear that the market may be getting better, but I hope not too much. I want to move there so badly!
Good to see the real estate market in the states recovering. In Europe there is still a long way to go in many places. I hope it can follow soon.
Who is doing the buying – investors? People looking for bargains? Price appreciation is great, but prices still must be very depressed compared to 3 years ago.
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This is great news. It’s nice to see the real estate business geared towards that direction.Hope it continues to grow that way, giving us a sign that the economy is getting better!!!
Nice seeing these good numbers in your market. It had made you lead… Best of luck and keep up the good work… We’re seeing good numbers also in our market. Hope the real estate market gets better and better.