San Diego Housing Market Update
Opportunities for Buyers and Sellers
George Lorimer at 619-846-1244
Your Home Sold Guaranteed or I’ll Buy It!*
*Conditions apply
The San Diego housing market is no longer the frenzy we saw during COVID, but it is not a crash either.
In many ways, today’s market is creating opportunities for both buyers and sellers — if you understand how to position yourself correctly.
Call or text me if you want to chat about your options and the best way to buy or sell a home. George 619-846-1244.
Download San Diego County Stats
The Problem
Affordability is still the biggest challenge. Higher mortgage rates have slowed demand, buyers are more cautious, and homes are taking longer to sell.
But here is the important part: serious buyers are still buying. Over 2,200 San Diegans bought homes last month.
That means this is not a dead market. It is a more strategic market.
Opportunities for Sellers
A bright point for sellers is that San Diego home values are still near historic highs in many areas.
If you have owned your home for several years, you may still have strong equity. Serious buyers are still out looking, but they are more selective.
Seller Strategy
The homes getting the best results today are properly priced, well presented, professionally marketed, and either move-in ready or strategically refreshed.
Many sellers do not need a huge remodel. Often, the best return comes from minimum high-ROI improvements like paint, flooring, lighting, landscaping, cleaning, decluttering, and professional photos.
I also offer a Pay-at-Closing option, where many sellers can improve the home with little or no upfront out-of-pocket cost. I help coordinate vendors, and many services can often be paid through escrow at closing.
Opportunities for Buyers
For buyers, today’s market may offer more opportunity than the last few years.
More inventory and longer market times can create room to negotiate — especially on homes that have been sitting.
Buyer Opportunities
Buyers may be able to negotiate a lower price, seller credits, closing cost help, repairs, or even money toward a mortgage rate buydown to lower the monthly payment.
In some cases, seller credits can help reduce the payment more effectively than a small price reduction.
If you are tired of competing with multiple offers, this market may give you more choices and better negotiating power.
The Bottom Line
This market is not easy for either side, but there are real opportunities.
Sellers can still take advantage of historically strong prices. Buyers can take advantage of more inventory, longer market times, and seller flexibility.
The key is having the right strategy before you buy, sell, fix up, negotiate, or accept an offer.
Thinking About Buying or Selling?
Call or text George Lorimer for a no-obligation strategy call.
Call/Text George: 619-846-1244George Lorimer
ProWest Properties
DRE# 01146839
GeorgeLorimer.com
Your Home Sold Guaranteed, or I’ll Buy It!*
*Conditions apply