San Diego Real Estate Market – One of the hottest for home sales
San Diego Real Estate Market
Bob Schwartz, San Diego real estate broker
The San Diego real estate market is one of the hottest markets. currently for home sales, based on recently released industry reports. To clarify, were talking about the length of time the average MLS home listing takes to sell. Naturally, this just means the time that it’s shown on the market that an offer has been accepted, the final closing usually occurs within 30 or 45 days from the acceptance. How quick a MLS home listing has an accepted offer on it is the number one indicator of the strength and popularity of real estate in any city.
Actually, the data shows that the hottest market in the country currently is Dallas, Texas. But the real news is that California cities dominated the list of the hottest markets in the country. The hottest cities for real estate activity included Santa Rosa, Vallejo, San Diego, San Francisco, Santa Cruz, San Luis Obispo, Ventura and Sacramento.
Homes in California showed the fastest moving inventory as far as median days on the market is concerned. In San Jose, California, on average, a MLS home listing sells in 24 days!
Year-over-year on a national basis, home prices have increased by approximately 9%. Considering that we are entering the seasonally hottest time for real estate sales, I would expect the average marketing time of California homes to remain low and actual selling prices to continue to increase at least through September 2015.
Also, it’s interesting to note that Detroit made the list of the 15 hottest real estate markets. Other cities in the top 15 hottest real estate markets were Nashville, Boston, Ann Arbor and Boulder, Colorado.
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