Not a Recession; an Opportunity
Many homeowners are sitting on a ton of equity. We have real money in the market compared to 2008. Yes the market leveled off as it should.
For those waiting on the sideline, what are you waiting for? Rates are coming down and many sellers are open to helping the buyer with a 2/1 buydown.
My advice: have a casual hook up with the rate, get an 2/1 buydown, and then refi when you’ve found “the one.”
We have more inventory on market, now. When rates are expected to drop in 2023, you will be met with greater buyer competition and higher prices.
Carmel Valley 92130

Changes from Last Month
● 18 homes were sold in 92130 in November 2022, which is 6% up from 17 sales the month before.
● Median Sale Price showed a 1% increase from $2,050,000 in October 2022 to $2,071,217 in November 2022.
● Days on Market (DOM) rose to 51 from 25 in October 2022.
● On average, sellers in 92130 received 94% of their asking price in November 2022 compared to 99% in October 2022.
Del Mar 92014

Changes from Last Month:
● 4 homes were sold in 92014 in November 2022, which is 50% down from 8 sales the month before.
● Median Sale Price showed a 5% increase from $2,850,000 in October 2022 to $3,000,000 in November 2022.
● Days on Market (DOM) rose to 19 from 15 in October 2022.
● On average, sellers in 92014 received 94% of their asking price in November 2022.
La Jolla 92037

Changes from Last Month:
● 16 homes were sold in 92037 in November 2022 and the Sold Count has not changed compared to the month before.
● Median Sale Price showed a 9% decrease from $3,282,500 in October 2022 to $2,975,000 in November 2022.
● Days on Market (DOM) rose to 50 from 23 in October 2022.
● On average, sellers in 92037 received 95% of their asking price in November 2022 compared to 96% in October 2022.
Ashley Peterson
The Agency Real Estate
La Jolla
Lic. 01840629
Information deemed reliable and for informational purposes only. Data obtained from San Diego Association of Realtors. Reach out to me for specific questions.
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