[quote=sdrealtor]There seem to be an endless supply of these buyers for properties under $350,000.[/quote]
Yes $300k-$350k seems to be the magic zone today. I have no doubt that there are tons of offers on some properties. Looking at the closed listings on SDLookup shows that 1/2 of recent closings sold for more than the asking price. However wasn’t the same thing happening for homes under $450k or even $500k just a few short years ago?
Looking at the current 3/2 listings nearly 1/2 have been on the market for 90 days or more, and about 1/3 are 120 days or more.
Based on everything I’m seeing I just can’t believe that Mira Mesa is so special that properties there will only lose 25% from peak. Yes, prices are “sticky on the way down,” but that doesn’t mean they aren’t still falling.
