San Diego Real Estate Market Update
for July 8, 2011
Early reports I pulled from the San Diego MLS on 7/7/11, show prices of resale houses & condos combined, dropping by .5%, but cost per square foot remains flat.
San Diego County June home sales will show another monthly increase to the highest number this year. Housing inventory is up again by a small amount.
In San Diego County, bank owned listings dropped to 8% and short sale listings dropped to 24% of active listings. These are the lowest numbers of distressed property inventory we have seen in years in the San Diego Real Estate Market!
Interest rates remain historically low but will rise due to the inflationary pressures of the stimulus money. A one percent rise in interest rates from 4.5% to 5.5% equates to about a 15% rise in monthly payment…and buyers usually buy by monthly payment, not price.
Call me to find a great San Diego County home or investment. 760-436-0087
Call me to find a great San Diego County home or investment. 760-436-0087
This San Diego Real Estate Market Update is brought to you by:
Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Agent
Sunshine Smith, SFR, Realtor® DRE# 01249837
Short Sale, Foreclosure Resource Certified
RE/MAX BY-THE-SEA
www.SanDiegoHomes4u.com
760-436-0087 or cell at 760-212-8225
Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & all San Diego County
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