San Diego real estate trends show high-end home prices on the rise, inventory on the decline
By John Lefferdink
In recent months,
have shown a move toward higher home prices, as well as shrinking inventory in the higher-end markets. According to
, real estate sales in San Diego County rose by 21.5% in May 2012 – a considerable jump compared to the feeble 3.2% rise recorded this time last year.
reports that sales in more affluent coastal regions – both here in San Diego and throughout the rest of Southern California – are partially responsible for the latest regional numbers. As the number of available homes dips, competition spikes – making the coming months an ideal time for sellers to put their homes on the market.
According to data from the
, more luxurious homes are seeing the best value increases, with properties worth at least $500,000 enjoying a 11% price boost compared to a mere 2% increase for less expensive homes. Leslie Appleton-Young, C.A.R. Vice President and Chief Economist, explains that strong sales of higher-end homes signifies that “the tight supply conditions we’ve been experiencing in the lower price ranges…are now extending into the upper price ranges,” signaling yet another step towards recovery.
Capitalize on buyer competition with help from an experienced Rancho Santa Fe broker
High-end homes may be increasing in value, and decreasing in availability; but that doesn’t mean there isn’t still time for move-up sellers to find a bargain and upgrade to a new home. With more and more people looking to purchase real estate throughout the county’s coastal cities,
, Encinitas, Carlsbad, Del Mar and other affluent communities can be bought and sold for great value: all it takes is help from an expert San Diego real estate agent at an established firm like ours at John Lefferdink & Associates.
As long-time San Diego brokers with a keen understanding of the North County markets and a passion for superior service, we at
with Prudential California Realty can offer the best in competitive negotiation skills and client satisfaction for local buyers and sellers alike. Whether you are hoping to get the right price for your home or find a new dream house, our talented team can help you capitalize on current market conditions. To learn more, view listings or assess current property values, call 858-756-8098 or visit us online today: