MARKET UPDATE





San Diego County Real Estate - La Mesa and El Cajon Real Estate 
San Diego Real Estate


 
Market update -- Through November 2018, San Diego County sales volume for homes has decreased about 19.4% from the prior year.  Median prices for homes through November 2018 are up about 1.6% in San Diego County and we continue to see prices increase, but not as significantly as the last few years, as inventory continues to be very low. Median sales prices for condos, during the same time, are down almost 2%. 

Foreclosures, while continuing as part of routine activity when someone has difficulty with their mortgage, are extremely low compared to activity during the 2008-2013 timeframe.  We have had a clear upswing in real estate values in Southern California and San Diego specifically over the past 3-10 years. Investors have retreated from the market considerably, and remain a smaller percentage of the home buyers, and investors were likely a major reason for driving prices higher until around 2016. Many foreign buyers have also retreated from the market, particularly in the luxury marketplace. Interest rates are near 4.625% as of December 2018, and this rate is about the same as 6 months ago. (interest rates have varied over the past 12 months and still remain near historical lows). While we have seen a decrease in sales volume, inventory shortage has caused concern throughout this past year.  Data mentioned herein is reflective of the whole county, and by region, and each zip code in San Diego County has various individual statistics.  If you would like information on a particular zip code or neighborhood details, call me or e-mail me and I would be pleased to forward to you that information. Whether you have a question about San Diego in general, or any community in the San Diego area, or the San Diego East County, including El Cajon, La Mesa, Spring Valley, Lemon Grove, Lakeside or Santee, or the Eastern communities of the city of San Diego, I would be pleased to assist you. HOMEOWNERS: If you have an underwater loan(s) and you are considering a short sale due to a valid hardship, please call me. I may be able to help. I have successfully represented sellers in short sales.  BUYERS:  Pricing, while it has moved up quite a bit, still is at a level to make a purchase a wise decision for those planning on a purchase to live in. 

My quarterly newsletter-  I send out a quarterly newsletter by snail mail discussing San Diego and San Diego East County market conditions, as well as giving helpful hints and tips regarding home ownership.  If you would like to be added to my mailing list, just call or e-mail me.  There is no obligation, I am pleased to provide the information. 

Roger W. Roberts
Roger W. Roberts
9555 Grossmont Summit Dr La Mesa CA 91941