It is the normal cycle of real estate, when interest rates drop housing prices will rise. We are beginning to see just that in North County San Diego.
Multiple offers, overbids and short market times are not only on the horizon but in the NOW!
Sellers are receptive to realistic price recommendations and open to price reductions if necessary. Buyers are understanding that the "deals" are done and we are settled into a normal market if not inching toward becoming a bit of a sellers market again.
All in all, it is good. Good to see a more fluid market and good to be in a time when home prices are stable. New construction is popping up around us and I believe we will begin to see the $1.1M+ new construction begin again.
Are the bad times behind us? Wish I had a crystal ball to offer that insight.
What I do know is that it IS a good time to buy and sell real esatate in San Diego.
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