Home Prices are Up

Posted on April 10, 2013 | by Denny Oh

According to the San Diego Association of Realtors, single-family homes prices are up…a lot!  Countywide, homes prices were up 19% in March (versus March ’12) and up 5% from February 2013.  Condo prices in March increased 14% from February and 30% from March of 2012.

With only 1.5 months of available inventory, market times have decreased by about a third (90 to 60 days) from the year before.  While prices are rising at an impressive rate, I don’t see this continuing for too much longer.  Sooner than later, home owners will realize what they can get for their homes and inventory will pick up – which is the main reason why prices are rising now.

If you’re looking to sell, I’d suggest doing so soon.

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