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San Diego is dealing with dwindling inventory and rising prices and interest rates.

Higher Prices for Homes in San Diego is a Direct Result in Lack of Inventory.San Diego Real Estate

The Greater San Diego Association of Realtors said the average home price hit $481,000 last month, up 23 percent over the average price a year ago.

The average price of a condo or townhome stood at $301,000. That’s an increase of 34 percent since last year.

The number of homes changing hands slipped 11 percent over the past year. Condo and townhome sales were down 2 percent.

The association said the average home was on the market for 48 days last month. The average stay on the market was 88 days a year ago.

The group’s president, Linda Lee, said in a release that the price hikes are not an indication there’s another real estate bubble growing. She said there are a lot of cash buyers in the market and borrowers are well qualified. That wasn’t the case during the last bubble.

The most expensive San Diego County listing to change hands was a $9 million dollar estate in Poway. The 15,800-square-foot home has five bedrooms and eight bathrooms.

Shannon Biszantz

Posted by Shannon Biszantz

Real Estate Consultant at BiszantzConnection

If you choose me as your realtor, I will be by your side through all the steps of the buying/selling process. As my client, I will be primarily concerned with representing your needs.

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Shannon Biszantz

Shannon Biszantz

Shannon Biszantz reviews

CalBRE #01787015
16236 San Dieguito Road, Suite 4-12,
Rancho Santa Fe, CA 92067

Work Cell: 619-417-4655
Office: 858-755-0075




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