According to many sources, including the Wall Street Journal, bidding wars are back. And as a local Realtor, I agree. Competitive bidding doesn’t seem to be resulting in large price increases or huge profits for sellers – yet. However, since there are more buyers than there is inventory right now, there is evidence that the market is finally starting to change.
The median value of a Rancho Bernardo home is now $362,110 with a +3.97% increase over the last month and a +4.95% increase over the last 12 months. The median home value in San Diego County is $379,000 with a +3.38% increase in the last month and +6.41% increase for the year.
This is good news for homeowners, but not so good news for first time homebuyers. Investors are out there in force buying up properties for cash, so getting a financed offer accepted can be difficult. It’s even more important now to work with an agent who has the knowledge and skills to get an offer accepted. And if you’re selling a home, find an agent who knows the market statistics so they can sell your home for top dollar. Visit our website or give us a call for more information www.SDHorseProperty.com
Written By
Melissa A. Santich
Associate Broker, SFR, ePro
San Diego Horse Property
DRE#01438359
619-749-4324
