San Diego County Housing Report:
Extra! Extra!
Inventory Rising!
Click here to get your updated home price Now that the Spring Market has finally arrived, a new trend has emerged, a rising active listing inventory.
For full report and stats click here
A Rising Inventory - The active listing inventory had its largest gain since April of last year.
April 21, 2021
There have been years where sunny Southern California sees very little rain. Sometimes those years accumulate, and the drought becomes severe. Unfortunately, this February was the driest February on record, dating back 127 years. Southern California only received a “trace” of rain. Normally it rains nearly 4 inches during the shortest month of the year. When it finally did rain on March 3rd, the precipitation was a welcome relief.
The supply of available homes has been experiencing its own severe drought, dropping to levels not seen since records were properly maintained. At this point, any additional FOR-SALE signs hammered into the ground are a welcome relief. In the past two weeks, that is precisely what occurred in San Diego County. The active listing inventory rose significantly for the first time since last October, rising from 2,175 to 2,309 homes. The addition of 134 homes was the largest increase since April of last year.
Other than the entry market, every price range experienced a rise in the number of homes available. The largest increases occurred in the hottest price ranges. Homes priced between $500,000 to $750,000 increased by 53 additional homes, up 10%. From $750,000 to $1 million, there were 77 additional homes, up 24%. Between $1 million and $1.5 million, the price range increased by 6%, and for luxury homes priced above $1.5 million, it went up by 1%. That may not be a lot of extra homes, but for buyers, it is welcomed with open arms. In the entry market, homes priced below $500,000 dropped by 18 homes, or down 4%.
Categories:
San Diego Market Statistics
We would like to hear from you! If you have any questions, please do not hesitate to contact us. We are always looking forward to hearing from you! We will do our best to reply to you within 24 hours !