Downtown San Diego 92101: Buyer's Market or Seller's Market
I keep hearing news feeds and statistics, both positive and negative, regarding the state of real estate in the United State.Â Well that is just fine but real estate is made up of hyper-local markets.
Â The typical news outlets are just not quite geographically constrained enough to be used by the average home-buyer or home-seller.Â I thought I would list some pertinent and useful information below regarding the specific Downtown San Diego High-Rise and Mid-Rise real estate market.
It is a "Buyers Market" at and above the $1 Million Dollar price point, no doubt about it.Â The other price point that continues to show signs of a "Buyers Market" is the $500K - $600K range.Â Otherwise (and this is a surprise to many) the rest of the pack is experiencing signs of a "Sellers Market" or "Balanced Market".Â
Does this mean you cannot negotiate a great deal as a buyer in a "Sellers Market" price bracket...Â Absolutely not.Â Does this mean you have to give away your $2,000,000 penthouse as a seller?Â Absolutely not.Â Each and every property is different.Â What does make a difference is working with a professional who studies the market and knows how to market a property successfully.
For more information on the Downtown Real Estate Market and other markets, please contact me anytime.
As always, this is my interpretation of the
information available as a professional real estate agent.Â Your own interpretation is always
Box 99249, San Diego, CA 92169
877.482.3747Â Fax 619.866.6049