Shortage of Real Estate Inventory in San Diego
For those who have been thinking about relocating to San Diego, or moving forward with purchasing a home, you wouldn’t be the first. With low interest rates and high appeal, real estate inventory in San Diego is shockingly low for both single-family homes and condos.
The county has seen about a 30 percent decline in the housing market, with less than 6,000 offerings listed for sale. When compared to other markets, San Diego is really hurting on availability.
Though this is ultimately bad news for buyers, sellers are at a great advantage, with handfuls of potential buyers coming in as soon as their property hits the San Diego MLS, Sandicor.
With such low inventory, buyers know that hesitation is their worst enemy and often come in at full price, if not over the asking price. The downfall of low inventory from a buyer’s perspective is that they must lower expectations, as there are few alternatives in such a market.
For those who are not flexible in location, they are stuck. At this point buyers have to build up the courage and take the leap in a town that everyone else seems to be going crazy over as well.