Here are the May 2023 Market Reports for 11 North San Diego County communities.
There were a number of changes in our local housing market in May 2023 compared to April. Additionally, each community was a little different in terms of their housing market.
The statistics in these market reports are taken from the MLS. While this information is believed to be accurate at the time these reports were created, it cannot be guaranteed.
So why read market reports?
If you are a buyer or seller understanding current and local housing market conditions benefits you when making buying and selling decisions.
In addition, creating market reports helps me advise buyers and sellers on their real estate planning and making educated decisions.
Local market conditions have a big impact on buying and selling due to supply and demand. Supply and demand affect marketing time, buyer competition, and sales prices versus list prices.
It’s commonly said in the real estate business that real estate IS local!! No doubt you’ve heard “Location, Location, Location!” Unfortunately, you cannot believe what you read in the media headlines! Media reports are general, ignore existing local market conditions, and are not current. These media reports are not helpful as a buyer and/or seller with important decisions to make.
LEARN MORE ABOUT THIS TOPIC – 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 could mean for YOUR personal situation, timing, budget, and decision-making. This information can 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? If so, the May 2023 Carlsbad market report is here.
Individual market reports for 10 additional North County communities can be found on my ActiveRain blog. You can view them here (links to my ActiveRain blog home page) OR SEE THE INDIVIDUAL LINKS BELOW. You’ll also find articles there about real estate issues, neighborhoods in North County, things to do, and general information.
CLICK on the individual market report links below for the May 2023 statistics for each community. May was fairly busy for buyers, sellers, and agents. And there were shifts in average prices, inventory, and sales volume from April. However, keep in mind that while there were several trends, the shifts for each community were different.
Please reach out at (760-840-1360) to discuss your personal housing needs, budget, and real estate decisions you want to make. We can also talk about what you can expect for buying and selling in this changing market, and specific questions.
In general, market conditions have improved some for buyers. However, the housing market continues to favor sellers overall, given supply, which remains limited, and increased buyer demand. There are plenty of important issues to consider as a buyer, including planning your offer strategy.
And if you are selling, deciding on appropriate list price is a key decision.
Are you planning to sell your home AND buy another? There are particular challenges due to timing and coordinating both transactions if this is your plan.
NORTH SAN DIEGO COUNTY MARKET REPORTS
Cardiff by the Sea Market Report
NEXT STEPS FOR SELLERS & BUYERS
Please reach out directly to me or by text at (760) 840-1360 with your questions. If you prefer you can also email me at JeffDowlerSolutions@gmail.com. I’m happy to have a detailed conversation with you about your personal real estate situation and goals.
Would you like information about your local housing market, or do you have specific questions about your area? Let’s talk about it!
Are you planning to buy a new home? If so, I can guide you through the home search and purchase process.
Curious about what your home may be worth in today’s market? I can help you with that information, too. Just ask me!
DO YOU NEED A PRE-APPROVAL?
Do you need to get pre-approved for a loan? If so, I can share contact information for several lenders I know personally. You can decide who to call. I suspect you know a pre-approval for a loan is critical, unless you have cash (and many people don’t).
Moreover, a pre-approval helps you understand your purchasing power. The market continues to shift and it’s essential to know what you can afford before touring homes and making an offer. Furthermore, why spend time looking at properties that exceed your budget?
In addition, sellers and listing agents expect written proof with your offer that you are financially qualified and can close.