San Diego real estate market roundup

The San Diego median house price has dropped in the last four months, but only nominally after the city’s record high of $525,000. The median price now stands at $515,000, which has seen an end-of-the-year slip since August. This suggests that price adjustments only comes with holiday market movement and the natural real estate flux towards the end of a calendar year. Sales, however, have reached another high for recorded Novembers (since 1988 when DataQuick began recording) with 4,350 sales that month, proving that the market is still incredibly strong. Sandicor, Inc., San Diego’s Multiple Listing Service shows listings at an almost 300% triple with 9,129, up from 3,754 in December of last year. Four in five buyers are choosing adjustable rate mortgages and as the Federal Reserve began raising short term interest rates six months ago these adjustable mortgage-holders are starting to pay higher rates. The region is seeing a median home price of almost double the national average. Homes are continuing to be built, remodeled, and sold, and should the Chargers make their way to the Super Bowl, San Diego will have yet another attraction to add to it’s list of reasons to live in this climate-perfect but increasingly expensive city. Prices are not expected to reduce significantly, according to pattern. Buyers should consider these factors when deciding the right time to shop for a home.

San Diego Jobs improve

Though the country’s national unemployment rate is 5.4%, San Diego has made considerable strides since December of 2001, matching an unemployment low of 3.4%. Job growth has slowed in the past month but still holds the lowest unemployment rate in 3 years. Nearly 20,000 jobs have been created in the last year. Half of that figure goes to construction work, as San Diego has been rapidly expanding to meet housing and commercial needs and Downtown is constantly evolving into the sky. Other San Diego jobs being filled are in professional and business services, increasing the amount of higher-paying jobs and attracting young professionals to the city. The bio-tech boom and the recent stem cell research grant are going to surely increase jobs in the coming years as well. Other large cities in California are struggling to rebound from 9/11 and the dot-com flop, though San Diego has the second lowest urban rate in California, behind Orange County. These statistics prove Southern California to be a desirable job destination, depending on both occupation and increasing population growth meeting housing needs.

San Diego real estate market roundup

The San Diego median house price has dropped in the last four months, but only nominally after the city’s record high of $525,000. The median price now stands at $515,000, which has seen an end-of-the-year slip since August. This suggests that price adjustments only comes with holiday market movement and the natural real estate flux towards the end of a calendar year. Sales, however, have reached another high for recorded Novembers (since 1988 when DataQuick began recording) with 4,350 sales that month, proving that the market is still incredibly strong. Sandicor, Inc., San Diego’s Multiple Listing Service shows listings at an almost 300% triple with 9,129, up from 3,754 in December of last year. Four in five buyers are choosing adjustable rate mortgages and as the Federal Reserve began raising short term interest rates six months ago these adjustable mortgage-holders are starting to pay higher rates. The region is seeing a median home price of almost double the national average. Homes are continuing to be built, remodeled, and sold, and should the Chargers make their way to the Super Bowl, San Diego will have yet another attraction to add to it’s list of reasons to live in this climate-perfect but increasingly expensive city. Prices are not expected to reduce significantly, according to pattern. Buyers should consider these factors when deciding the right time to shop for a home.