Main Content

Resources

The following are statistical metrics used to indicate whether our market is favorable towards buyers or sellers:

  1. Inventory: the amount of properties currently available for sale.  The amount of inventory in a particular market is significant due to the fact that an excess of supply (homes listed for sale) could cause home prices to decrease if there is a lack of demand for suitable housing.  A lack of supply and high demand for properties would in turn cause property values to increase.
  2. Average days on market: the average amount of time in which active listings have been available for sale.  Only the listing period prior to the opening of escrow will be averaged in the table below.  The average amount of time a home spends on the market indicates how quickly a home may be sold given the current demand.  A mean (average) market period of less than 45 days is indicative of a seller’s market.
  3. Absorption rate: the rate at which homes sell in a given area during a given time period1. A seller’s market is considered to have an absorption rate above 30%. An absorption rate below 20% would indicate a buyer’s market.
  4. Months of supply: the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales1. Three months of supply would be considered a seller’s market. Five months of supply or more would be considered a buyer’s market.
  5. Average price:  the average listing price for all homes currently available on the market.
  6. Broker’s note: Residential properties priced over $1 million could affect the benchmarks for each metric considering the fact that luxury properties are considered to be more elastic than most average priced single family residences. For example, properties priced over $1 million typically have extended periods of availability on the market given there are fewer buyers willing or able to purchase a luxury property. A market with low property turnover would then result in a higher absorption rate and months of supply quotient.

Check the following table to see whether or not the area you are interested in purchasing or selling your property favors your interests!

Detached Residences in San Diego County

City

Zip Code Inventory Average Days on Market Absorption Rate (%) Months of Supply Market Status Average Home Prices # of Properties Sold within last 30 days

Chula Vista

91910

45

28

57.78%

1.61

Seller’s Market

$780,770.00

26

Chula Vista

91911

35

42

88.57%

1.67

Seller’s Market

$562,688.00

31

Chula Vista

91913

60

40

56.67%

2.86

Seller’s Market

$641,568.00

34

Chula Vista

91914

26

38

42.31%

2.36

Seller’s Market

$1,285,485.00

11

Chula Vista

91915

21

51

85.71%

1.17

Seller’s Market

$698,356.00

18

Bonita

91902

22

50

72.73%

1.38

Seller’s Market

$1,089,460.00

16

San Diego

92114

43

29

102.33%

0.98

Seller’s Market

$499,422.00

44

Paradise Hills

92139

15

22

93.33%

1.07

Seller’s Market

$516,320.00

14

Lemon Grove

91945

20

28

85.00%

1.18

Seller’s Market

$499,422.00

44

Spring Valley

91977

63

44

55.56%%

1.80

Seller’s Market

$538,140.00

35

Spring Valley

91978

7

32

57.14%

1.75

Seller’s Market

$683,000.00

4

South San Diego

92154

49

50

53.06%

1.88

Seller’s Market

$652,773.00

26

San Ysidro

92173

11

36

18.18%

5.50

Buyer’s Market

$531,636.00

2

El Cajon

92019

61

66

60.66%

1.65

Seller’s Market

$768,744.00

37

El Cajon

92020

71

50

54.93%

1.82

Seller’s Market

$712,390.00

39

El Cajon

92021

75

50

48.00%

2.08

Seller’s Market

$661,086.00

36

La Mesa

91941

59

53

62.71%

1.59

Seller’s Market

$895,598.00

37

La Mesa

91942

26

36

92.31%

1.08

Seller’s Market

$648,499.00

24

La Jolla

92037

199

80

14.57%

6.86

Buyer’s Market

$4,544,265.00

29

Coronado

92118

98

108

13.27%

7.54

Buyer’s Market

$3,187,381.00

13

Del Mar

92014

68

93

23.53%

4.25

Buyer’s Market $4,781,532.00

16

Home Improvement and property TLC

Are you considering making improvements to your property prior to listing your home?  Let us help you! We exclusively offer our contacts to all of our clients. The Bridgeview Realty network is connected to professionals who offer the following services:

  • Appliances
  • Cabinetry
  • Carpet/Tile/Flooring
  • Garage Doors
  • Landscaping
  • Legal Advice (attorneys)
  • Plumbing
  • Roofing
  • Staging
  • Termite

Give us a call to schedule your listing appointment today!

Sources1https://www.findwell.com/real-estate-dictionary/definition/