Are We Back To A Seller's Market?
Two significant indicators show we are moving towards a seller's market. #1) The pending prices are higher than the SOLD - this is a good sign for sellers. #2. The market time has decreased by 31 days in 4 weeks.
Look at the chart; it shows that it took 76 days to sell a home four weeks ago (Market Time), and now it is taking 45 days. This is because there has been an incredible surge in buyer demand and decrease in homes for sale (supply).
Much of the price decline already happened from September - December of 2022. So, for many sellers, it may make sense to sell now and cash out while we are close to all-time highs and not many homes are on the market. For more, download up-to-the-day stats and San Diego market trends.
Click here for our Seller Resource page
