Even with a fairly low housing inventory, San Diego has continued to show strong sales. According to the San Diego Association of Realtors, the median sales price for a single family detached home is up 8.6 percent since September of 2015. Many of our East County areas are showing inventory of 1 to 2 months based on current sales levels. Experts consider somewhere between a four to six month supply of inventory as "healthy" or balanced. When we have a smaller inventory it can be called a "seller's market." As inventory grows and sits longer on the market things shift to a "buyer's market." Because interest rates are low, it still makes sense for buyers to jump into the market which is what we are seeing now. Conforming 30-year fixed rate loans average around 3.4 percent with a 15-year rate near 2.75 percent depending on credit scores.
Zillow Doesn't Replace the Advice of a Realtor
