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Wesley Guest's Blog

By Wesley Guest | Managing Broker in San Diego, CA
  • Pacific Beach Home's Average Time on Market Increasing in June 2011

    Posted Under: Market Conditions in Pacific Beach, Home Buying in Pacific Beach, Home Selling in Pacific Beach  |  June 27, 2011 1:19 PM  |  489 views  |  No comments

    The overall average absorption rate in Pacific Beach for June 2011 is increasing slightly to nearly 10.41 months from 8.98 last month.  The Absorption Rate is the ability of the real estate market to absorb or sell all of the houses for sale in a given amount of time.  Most real estate professionals will agree that absorption rate is the key to successfully pricing a listing for sale.

    Breaking down the Pacific Beach market further by price point changes the figures considerably.  For example, the $400K - $500K price point is indicates a Sellers Market at 5.67 months of inventory.  However, the $800K - $900K price point is continuing to claim a Buyers Market with ample amounts of inventory available.  Anyone looking to buy real estate in Pacific Beach in the $1M – $2M range will be pleased to note there is a plenty of inventory and an abundance of buying power as well. 

    Complete list of data and statistics below.  As always, this is my interpretation of the information available as a professional real estate agent and economist.  Your own interpretation is always welcome. 

    Thank you,


 
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