Hi everyone, I want to tell you a little bit about what’s happening in today’s market, specifically here in Carmel Valley, San Diego, zip code 92130. Well, we are seeing more single-family homes on the market and I wanted to give you some more data for you to be able to understand it better. So, I looked at July of 2021 versus July of 2022. If you compare these two months we are seeing 78% more homes on the market. That’s amazing because it typically was the opposite. So we have more homes on the market, 78%, we have 65% less homes closing. But, the good news is that the median sales price has gone up by 24%. So, the supply is still low compared to the demand. The demand is still high but some of these buyers are not looking at homes they are waiting on the sidelines to see what happens to the market, if the market is going to crash. So, that really is a good opportunity for a lot of buyers because there’s less competition so you can get a better price you have more options. So, I don’t recommend you to wait I recommend you to move forward and look because your more options. You have less competition so you may even. be able to negotiate on price versus when all these buyers decide to buy again you are going to have the same problem we had before. So, what does this mean to you if you’re a homeowner? if you’re a homeowner you have gained so much equity in your house, as I mentioned your median sales price has gone up by 24%, and you’re a serious seller you know the price you were getting in March was much higher than today, so you may your home value may not go up as much as before. We know that for sure because Covid time pandemic was a different time. So, if you’re a seller or if you’re a homeowner and you’re thinking of selling, definitely it is the right time to sell, but you have to be very very careful of how you price your home, how you show your property, what kind of condition it is, and what kind of an agent you’re hiring. I am noticing in some areas in Carmel Valley some of the homeowners are hiring agents not local and they’re under pricing the home, they’re putting very bad photos, bad condition and of course it is not selling for top dollar and that’s really affecting the values of other homes. So, be mindful of which agent you’re working with. Make sure you do your homework on that and then, if you are a buyer, I mean this is the best opportunity for you. You have so many options, you can make good offers and no competition, so definitely take advantage of that. If you have any questions about this feel free to give me a call you can call me at 858-345-0685.
Shirin Rezania Ramos | 858.345.0685 | www.shirinramos.com | Compass, DRE 0203379