San Diego Real Estate Market Update – May 2018

San Diego condos are appreciating faster than detached homes, sometimes almost twice as fast.  Take Rancho Bernardo (92128) for example.  The value of condos and townhomes appreciated by 20% YTD compared to detached homes that appreciated by 9.9%.  Another example, Scripps Ranch (92131) attached homes appreciated by 19% YTD versus detached homes that appreciated by 10.1%

What does this mean for you?

Sellers

If you are in the market to upsize, now is a great time to make the move.  You will get maximum dollar on the sale of your home and get into the bigger home before the price gets out of reach.

Buyers

If you are in the market to buy, get in now and take advantage of the fast appreciation.  California is expected to appreciate by 10% overall.  If you purchase for $400,000 you have potential for $40,000 appreciation over the next 12 months.

Homeowners

Your home could be worth more than you think.  Find out what your home is worth, get equity forecasts and keep a pulse on your #1 asset with ePropertyWatch.

Here are the latest San Diego median home prices.

San Diego Median Home Prices

Detached Single Family Homes

3 Bedrooms                 $536,900         +9.6%

4 Bedrooms                 $715,000         +7.5%

Attached Homes (Condos/Townhomes)

1 Bedroom                   $295,000         +6.5%

2 Bedroom                   $389,000         +8.7%

3 Bedroom                   $471,000         +8.8%

If you'd like more information about the San Diego Real Estate Market, feel free to contact me.