New Year, New Market?

“You are never too old to set another goal or to dream a new dream.” — C.S. Lewis

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San Diego Real Estate


Historically, the beginning of January represents the time of year when the fewest number of homes will be available for sale, as sellers either withdraw their homes from the market during the holidays or wait to list until after the holidays. This year the trend was even more pronounced: on January 3, there were a mere 1,361 homes for sale throughout San Diego County--a 45% decrease from January 2021.


Buyer demand, fueled by historically low mortgage rates, matched with an inventory that was already trending lower prior to COVID, did not let up through the holidays as we typically see. Instead, the majority of homes that came on the market between October and December went "pending" (under contract) or sold, for a total of 8,931 closed sales in that time period.

What to expect in 2022: Inventory is expected to increase from the current anemic level as we head into the Spring selling season and will peak around August. Homes will continue to be swooped up at a rapid pace because of the pent-up buyer demand. Mortgage rates are expected to increase slightly throughout 2022, intensifying buyer demand in the first half of the year, as they lock in the ultra-low, 30-year fixed rates as soon as possible. The most rapid price appreciation will occur from January through July, and then will slow slightly during the Autumn and Holiday markets. You can expect home appreciation in San Diego County to average around 8-10% for 2022. If you have questions about the current or expected market for 2022 or are considering buying or selling, reach out to me and I'd be happy to discuss your personal circumstances. Sources: Steven Thomas, Reports on Housing and Paragon



 

Recent Sales Activity


Congratulations to our clients who achieved their real estate goals in December, including a first-time buyer and newlyweds starting their lives together. We appreciate the opportunity to be of service!

5886 Cowles Mountain Boulevard

SOLD

La Mesa

3 Bed | 2 Bath

Represented Buyer


6055 Estelle Street, Unit 8

SOLD

El Cerrito 2 Bed | 2 Bath

Represented Buyer


 

Local Events


San Diego Home Improvement Expo

January 7-9 Del Mar Fairgrounds

Offers deals on kitchen and bath remodeling, home decor and more all under one roof. Speak to experts from a large variety of home-improvement and maintenance organizations. Admission is free with online registration, click here.


Farmers Insurance Open

January 26-29

Mark your calendars now, because one of San Diego’s biggest events of the year returns in 2022 to the iconic Torrey Pines Golf Course in La Jolla, home of the 2008 & 2021 U.S. Open. Don't miss out on the breathtaking views, world-class golf, and an unrivaled experience at Torrey Pines. Additional information here.



Pure Project 6th Anniversary Party

January 29th Don't miss this party featuring a biergarten, food trucks, games and a raffle! Just $25 per ticket, come enjoy some food and beverages while helping give back to our planet. Pure Project cares about their impact on the planet, so their goal for this year’s event is to strive for zero waste! Details found here.

 

Lifestyle Tips & Tricks

Home Appraisals: What You Need to Know


A home appraisal may not be top of mind when you're looking to buy, sell or refinance a home. But maybe it should be: Appraisals are necessary when buying and selling a home because banks won’t lend money if the appraised value of the house is less than the loan amount. However, there are other times when an appraisal may be required or can help save you money.


Courtesy of US News


These Are the Biggest Color Trends To Keep An Eye On In 2022

The colors we surround ourselves with can directly impact our emotions. Choosing the right dining room paint or the best pop for living room paint colors can make all the difference in uplifting the mood of any space. And after two rather interesting years, more and more design enthusiasts are turning to color to liven up their homes and create spaces of inspiration.

Courtesy of Veranda



Organization Tips for Every Room in Your Home

Organizing your home doesn't have to happen all at once. Go room by room with these practical storage solutions and decluttering ideas for kitchens, bathrooms, living areas, and more.

Courtesy of Better Homes & Gardens


Noel Wheeler

REALTOR

619-890-2877

DRE#01373389

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