Are you a San Diego or El Cajon homeowner considering selling their home in order to upgrade to a larger property or move on to a new area? In this post we’ll share a quick market update on the San Diego and El Cajon real estate markets, and explain why now is an excellent time to sell your home if you’ve been considering it.
The San Diego Luxury Market is a Seller’s Paradise
The real estate market in San Diego is healthy and is looking positive for sellers. In the March-June 2014 quarter, the median home price in San Diego was about $450,000, a year-over-year increase of about 4.7 percent when compared to the same time in 2013. However, the luxury home market in San Diego is taking off, and this is excellent news for those who are considering a sale of larger luxury homes. In the same time period, luxury real estate is up 13.5 percent year-over-year with a median home price of about $1.93 million. As inventory is limited in the luxury property market, you can expect to sell a bit quicker than usual.
El Cajon: A Great Time to Sell
The market is catching fire in El Cajon, making now the perfect time to get your home listed so that you can close before the annual peak occurs. While the median home price for the March-June 2014 quarter is $383,750 – reflecting a 15 percent increase year-over-year – it’s actually smaller homes that are seeing the largest increases. One bedroom homes in El Cajon averaged $159,000 in the same quarter, which is a whopping 55 percent increase over last year. If you’ve been stuck in a smaller home waiting for the opportunity to make an upgrade, now is an excellent time.
Predicting the Future: a Healthy, Balanced Market
While predictions are always challenging to make, experts believe that we have healthy real estate markets in San Diego and El Cajon, and they should remain balanced and growing steadily into the future. Remember, real estate is cyclical, so as the usually-busy summer season cools off the market may slow a bit to compensate.
Ready to Sell? We’re Ready to Help
When you’re ready to get started with selling your San Diego or El Cajon home, the team here at Whissel Realty is here for you. Contact us at your convenience and our home sales team will kick things off with a comprehensive home evaluation. It’s our goal to ensure that you receive top dollar for your home and that you’re fully satisfied with your sale.