It's clear there are two very different markets in San Diego. The first time buyer market has seen a bit of a "false recovery" spurned by 5% rates and huge incentives. The high end market is heading dooooown. I've seen anywhere between a 20-40% decrease on the high end.

If you're looking for a deal under 700k, best to wait it out. If you're looking higher than that and can get a loan or have cash, I would say now's a good time to start throwing in some low offers and test motivation.

Hi Marla,

Home prices have increased by 1.7% over the last 3 months. Due to the tax incentives and low interest rates, people are snatching up anything under $800K range as Melissa was saying. We are experiencing multiple offers on low priced homes.

FYI - Solana Beach has been the best performing city in San Diego county over the past 3 years.

Let me know if you need any help analyzing properties in the area.

Best, Conrad

In Encinitas, the market for higher priced homes is fairly stagnant because there are not as many loans available right now for buyers of higher priced homes. The homes priced under $750,000 seem to move very, very quickly and get multiple offers.