December 2020 North County and San Diego Real Estate Markets

December San Diego Real Estate North County Monthly Market Snapshot Pam Fraser

While quite busy in October, the North County and San Diego real estate markets did see some slowdown in November. But because new listings dropped more than pending listings and sales, inventory levels plummeted. They’re lower now than I can ever remember seeing. This severely limited inventory paired with historically low interest rates has created an incredibly competitive market for home buyers. Due to these factors, we continued to see strong year-over price gains.

The California Association of Realtors 2021 Housing Market Forecast projects that this inventory shortage will continue, but price increases will be more moderate. They expect interest rates to stay just above three percent, and home sales to increase slightly in 2021.

North County and San Diego Real Estate December 2020

Year-over, median prices were up 10.7 percent countywide and 11.6 percent in North County. Inventory dropped by about 50 percent compared to the previous year, and market times were very short. New listings, pending sales and closed sales dropped countywide. The same was true in North County, but closed sales saw a 10.5 percent gain.

See below for this month’s statistics and daily interest rate updates.

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November & December Gardening Tips 2020

November & December Gardening Tips 2020 Pam Fraser
Photo by Ingmar on unsplash.com

November and December are great times for planting and pruning in the garden. Until the rains start it’s important to continue to water, especially when we are having dry Santa Ana winds. Here are some November and December gardening tips to get your yard ready for the new year.

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A Strong Seller’s Market: The New Normal?

A Strong seller's market: The New Normal?

“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said. And he’s right. Most of us would have expected the housing market to suffer from circumstances like a global pandemic and historic inventory shortages. Instead, we’re experiencing a strong seller’s market.

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October 2020 North County and San Diego Real Estate Markets

October 2020 North County and San Diego Real Estate Markets

The October North County and San Diego real estate markets both saw 15 percent, year-over price increases. Paired with strong price growth were steep decreases in available inventory and days on market compared to the previous year.

Historically low interest rates paired with very little inventory and pent-up demand are forcing prices up quickly. If we see more inventory coming on the market or an increase in interest rates, those price increases should slow down.

The California Association of Realtors 2021 Housing Market Forecast projects that interest rates will stay just above three percent next year. But inventory may start to increase with the recent passing of Proposition 19.

Proposition 19 will allow homeowners who are over 55, severely disabled or those whose homes were destroyed by wildfire or disaster to transfer the tax base value of their primary residence to a replacement residence of any value, anywhere in the state. This may help motivate some homeowners to make a move.

North County and San Diego Real Estate October 2020

Both North County and San Diego County as a whole saw strong, year-over, median price gains of over 15 percent. Inventory dropped compared to last year by approximately 48 percent. Year-over market times were significantly shorter. North County saw increases in new listings, pending sales and closed sales while San Diego County as a whole had more pending sales but fewer new listings and closed sales.

See below for this month’s statistics and daily interest rate updates.

Continue reading October 2020 North County and San Diego Real Estate Markets

5 Secrets Buyers and Sellers Must Know About Virtual Home Tours

5 Secrets Buyers and Sellers Must Know About Virtual Home Tours couple watching virtual tour on tablet

For years now, virtual home tours have helped real estate buyers far and wide find the perfect home. They help military personnel being relocated, investors expanding their portfolio, and homeowners looking for a vacation getaway. Virtual tours make finding a house that’s out of driving distance much easier. And for real estate agents, virtual tours have been a useful way to help buyers with their home search. They also allow us to assist sellers in creatively marketing their homes.

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October Gardening Tips 2020

October Gardening Tips 2020 Pam Fraser narcissus in my garden

As long as the weather stays cool, October’s a great time for planting everything other than tropical and semi-tropical plants. Planting in fall allows strong root systems to develop so what you put in the ground now can produce spring flowers and survive next summer’s heat.

This is also a good time to divide many perennials. Take a look at October 2019 gardening tips for more information.

Here are some October gardening tips to keep your yard looking beautiful year-round.

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North County and San Diego Events October 2020

North County and San Diego Events October 2020 Pam Fraser

NORTH COUNTY AND SAN DIEGO EVENTS FOR OCTOBER

North County and San Diego events for October have transformed to help keep everyone save during the pandemic. Some have gone virtual or have moved outdoors, while others have been canceled or delayed.

Here are some fun North County and San Diego events in October for you, your family and friends. Enjoy, but please stay safe!

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September 2020 North County and San Diego Real Estate Markets

September 2020 North County and San Diego Real Estate Markets Pam Fraser

September North County and San Diego real estate markets are still strong. If you’re thinking of selling, the time is right. If you’re looking to buy, it is the best of times, and it is the worst of times. Buyers can take advantage of historically low interest rates, but are being thwarted by the lack of inventory.

Is the market likely to change soon? Experts predict the real estate market will remain strong throughout 2020, but some think we may see a slowdown in 2021. Mortgage lenders expect home loan rates to remain low, perhaps through 2021. But they do caution that with a COVID vaccine or possible inflation, we will see interest rates rise.

North County and San Diego Real Estate September 2020

Both North County and San Diego County as a whole saw strong, year-over, median price gains of 12.6 and 11.9 percent respectively. Inventory dropped compared to last year by approximately 50 percent. Year-over market times were significantly shorter, and while we saw a drop in new listings, pending sales increased by approximately 25 percent.

See below for this month’s statistics and daily interest rate updates.

Continue reading September 2020 North County and San Diego Real Estate Markets

Move-Up Home vs. Second Home: Which One Is Right for You?

Move-Up vs. Second Home: Which One Is Right for You?

The pandemic has changed the way many of us live, work, and attend school—and those changes have impacted our priorities when it comes to choosing a home. Some of us are considering a move-up or a second home.

Continue reading Move-Up Home vs. Second Home: Which One Is Right for You?