April 27, 2024
Here are the March 2024 Market Reports for 11 North San Diego County communities. And here are the February Market Reports for comparison.
There were a number of shifts in our local housing market in March compared to February. Additionally, housing activity varied in each community despite some trends.
The data in these market reports was found in the MLS. While the information is believed accurate when these reports were written, it’s not guaranteed.
You might wonder if there is value in reading market reports? The answer, of course, is yes!
If you are buying and/or selling, understanding current local housing market conditions benefits you when you need to make important real estate decisions.
In addition, writing market reports helps me better advise buyers and sellers so they can plan and make informed decisions.
Local market conditions have a big impact on selling and buying due to supply and demand. Supply and demand affect time on the market, buyer competition, and sales versus list prices.
It’s often said that real estate IS local!! You’ve no doubt heard “Location, Location, Location!” Unfortunately, you cannot believe what you read in the media headlines that are everywhere! Media reports are generalized, ignore local market conditions, and typically not current. Media reports and headlines do NOT help buyers and/or sellers make important decisions. They tend to be clickbait to encourage readers to click on the website.
READ MORE ABOUT THIS ISSUE – Real Estate is Local, but HOW Local?
Each seller and buyer situation is unique. I’m happy to share my insights on what local market conditions mean for YOUR personal situation, timing, budget, and decision-making. This information will be specific to the market segment that interests you – zip code, neighborhood, price range, size of house.
MARKET REPORTS
Is the Carlsbad housing market of particular interest to you? If so, the March 2024 Carlsbad market report is here.
You will find individual market reports for 10 other North County communities on my ActiveRain blog. You can view them here (links to my ActiveRain blog home page) OR SIMPLY CLICK ON THE INDIVIDUAL LINKS BELOW. You’ll also find articles on my AR blog about real estate issues, North County neighborhoods, things to do, and general information.
CLICK on the individual market report links below for the March 2024 statistics for each community. March was a busier market than February, in general, for buyers, sellers, and agents. And we saw changes in average prices, inventory, and sales volume from February. However, while there were several trends in sales and inventory, each community was somewhat different.
Please reach out at (760-840-1360) so we can discuss personal housing needs, budget, and real estate decisions you want to make. We can also talk about what to expect when buying and selling in our changing market, and your specific questions.
The housing market continues to favor sellers overall, given the supply which remains limited relative to buyer demand. There are a number of important issues to consider as a buyer, including planning your offer strategy so you can be successful.
And if you are selling, deciding on the appropriate list price in this market is a key decision to make. Understanding the local market conditions will help with that decision.
Are you planning to sell your home and then buy another? There are particular challenges due to timing and coordinating both transactions if that is the plan. One important question is are you able buy another home before selling your current one? Also, you need to think about where will you go if your home sells quickly. We can discuss the options you have and the pros and cons.
NORTH SAN DIEGO COUNTY MARKET REPORTS
San Marcos Market Report
Oceanside Market Report
Encinitas Market Report
Cardiff by the Sea Market Report
Del Mar Market Report
Solana Beach Market Report
Escondido Market Report
La Jolla Market Report
Rancho Santa Fe Market Report
Vista Market Report
NEXT STEPS FOR SELLERS & BUYERS
Please reach out directly to me or by text at (760) 840-1360 with any questions. If you prefer, you can email me at JeffDowlerSolutions@gmail.com. I’m happy to have an honest, in-depth conversation about your particular real estate situation and goals.
Do you need more information about the local housing market, or are there specific questions about your area? Let’s talk about these!
Are you planning to buy a home? I will guide you through the home search and purchase process when the timing is right for you.
If you are curious about the value of your current home in today’s market, I can help with that, too. Just reach out to me so I can gather some important information about your home first!
DO YOU NEED A PRE-APPROVAL?
Do you need a pre-approval for a loan and to know what you can afford? If so, I can share contact information for several lenders I know personally. You can decide who to call and who you would like to work with. I’m sure you are well aware a pre-approval for a loan is essential, unless you have sufficient cash (and many people don’t). Cash buyers will be expected to provide proof of funds with their offer.
In addition, a pre-approval letter enables you to understand your purchasing power. The market continues to shift and it;s important to know what you can afford before touring homes and making an offer. Consider this. Why would you spend time looking at properties that exceed your budget, and risk falling in love with a home you can’t afford.
On a final note, sellers and listing agents will require written proof with your offer that you are a well-qualified buyer financially, and will be able to close the transaction. It’s essential reassurance for all parties involved!
