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San Diego Housing Market – Are Bidding Wars Back?

Low real estate inventory and lots of buyers mean bidding wars are back!

According to many sources, including the Wall Street Journal, bidding wars are back. And as a local Realtor, I agree. Competitive bidding doesn’t seem to be resulting in large price increases or huge profits for sellers – yet. However, since there are more buyers than there is inventory right now, there is evidence that the market is finally starting to change. 

The median value of a La Mesa home is now $364,450 with a +6.96% increase over the last month and a +9.44% increase over the last 12 months.  The median home value in San Diego County  is $379,000 with a +3.38% increase in the last month and +6.41% increase for the year. 

This is good news for homeowners, but not so good news for first time homebuyers.  Investors are out there in force buying up properties for cash, so getting a financed offer accepted can be difficult.  It’s even more important now to work with an agent who has the knowledge and skills to get an offer accepted.  And if you’re selling a home, find an agent who knows the market statistics so they can sell your home for top dollar.  Visit our website or give us a call for more information www.SDHorseProperty.com

Written By

Melissa A. Santich

Associate Broker, SFR, ePro

San Diego Horse Property

DRE#01438359

619-749-4324

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Jean-Pierre Prieur February 26, 2013 at 12:20 AM
Great article thanks for sharing
Melissa February 26, 2013 at 01:53 AM
My pleasure

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