So if you’re living in south San Marcos, you’re going to want to stay tuned. We are getting into the price, sales, and predictions. What’s going on in the real estate market right here. We’re standing in San Elijo Hills. Let you know how things have changed, because it has changed over the last few months. So let’s hop right into the prices
Speaker 2:
For the first time in a really long time, prices are down year over year in the month of September. Just a little bit, 1.1%, but still that’s the first time we’ve seen that in three years. And another glaring number too is that sales price to list price percentage has gone down too. So when we were used to seeing a ton of houses go for over list price, where that percentage was 104% or 103%, now it’s down to 95%. So homes are selling for under list price for the first time in a long time.
Speaker 1:
Now hopping into sales: the number of listings, actually, so the number of homes that have come on the market in September compared to last September, is actually down a little bit, but so is the number of pending sales or the homes in escrow, and so is the number of closed sales, meaning that buyer pool has shrunk considerably over these past few months. And that rolls into predictions and what we expect to see over the next few months. Now, traditionally, just seasonally, we’re going to see less homes come on the market. It’s just that time of year. But we’re also seeing less buyers out there. A lot of that has to do with the interest rates. They’re over 7% right now. Until the interest rates settle in, become a little less volatile… we’re seeing like 0.5%, 0.25% moves through weeks, which is kind of unheard of. Until that settles down, the buyers might be a little skittish until they see some consistency in the interest rate numbers.
Speaker 2:
So what does that mean if you’re thinking about selling your house here in San Marcos? It means that setting that list price is even more important than it’s ever been. That expectation of getting multiple offers, getting a ton of views on your house is not there right now. So if you are thinking about selling in the coming months, it’s never too early to start that conversation. Definitely hit us up. We are real estate agents here in North County, San Diego. So if you have questions, get in touch with us. We’d love to help you. And if you are looking for just a little bit more information, click that learn more button and you’ll get five tips of setting your list price, and we’ll catch you on the next one.