SFH inventory in 92107 is currently below 1 month.
Condo inventory is slightly high because a new 30-unit townhouse development was completed last year at 4100 Voltaire. It is now more than half sold.
Looks like 2020 could be a big, 8-10% price increase year:
1. Low rates
2. Booming stock market helps fund downpayments
3. Booming economy helps incomes
4. New construction still very low
5. Inventory extremely low.
The past few years I think conservative pricing by sellers may have also held us back a little.
Just looking at the most recent listings and closings, the prices seem kind of high, yet go pending and then close quickly.
I also feel we’re due for a little catchup appreciation. San Diego has underperformed peer markets the past decade, both the other big west coast cities as well as Denver, LV, and Phoenix.
There’s no rule this has to happen, but the extra value you get moving here from LA/Bay Area is bigger than ever, and the extra cost of moving here from somewhere like Denver or Austin is smaller than ever.
