Inventory is still high and properties are on the market longer. What is that doing to prices? The answer is "it depends." Some zip codes are still holding their own (I see you Alpine!) but others are responding to the increased inventory and concerns over rate/politics/you name it. Here are a few snap shots of what is happening in zip codes I am currently working:
It is tough to see the detail on the pending sales in the cities listed (La Mesa, North Park and Alpine) but you can see the county-wide number and see the breakdown on the right in the above chart. Basically pending sales are down county-wide. You can see they hit a peak in early 2022.
This chart shows active listings throughout the county and in the cities mentioned above. Note, North Park listings are actually down 8.6 % year over year for June yet sales are still down. Countywide inventory is up 36.3% year over year. Wow.
This is an interesting one - median sales price. Alpine is slightly up year over year but county-wide, and in the cities listed, prices are down. You can see things are selling but it has switched to a buyer's market. These charts are only a small snapshot of what is happening in San Diego. If you want me to pull your zip code give me a call. The time to sell is when the time is right for you regardless of what the market is doing. With the right price, and the right marketing, your property will sell.
