San Elijo Hills January 2021 Real Estate Market Update
San Elijo Hills Market Update
- 14 homes sold in December 2020
- 6 homes are currently pending in escrow
- The average December sales price was $891,000
- Only 7 homes are active on the market
- The average price per square foot is $381
ATTENTION BUYERS: Waiting for the market to get easier for buyers is not the answer. Home values are on the rise and mortgage rates are projected to climb as well. Values are slated to rise between 6 to 8% in San Diego County, and mortgage rates will start the year at record low levels but could reach 3.5% by the end of the year. With rising values and higher rates, payments rise and home affordability will slowly erode. For buyers, waiting is not an option.
ATTENTION SELLERS: Pricing close to a home’s Fair Market Value is fundamental to obtain the highest possible net proceeds. Overpricing in today’s market is not advisable and will only result in fewer showing and fewer offers. The key to tapping into the current Hot Seller’s Market is to take advantage of the hordes of buyers waiting for more homes to hit the market. A realistic price will attract multiple offers and a bidding war will ensue. To become the winning bidder, buyers often stretch above the asking price.
Today’s buyers and sellers need a trusted local resource that can guide them through the complex world of real estate, who you work with matters. With my extensive local San Elijo Hills knowledge and commitment to providing an exceptional real estate experience to my clients, I’m your go-to source for San Elijo Hills and North County real estate insight, advice, and results. I am the publisher of San Elijo Life for 15 years and enjoy connecting and building our fantastic community.
Please let me know how I can safely be of service if you are looking to buy or sell a home.
Covering North County San Diego from “The Hills to The Coast”
Edward Philbrick: REALTOR Lic #01967137
Corcoran Global Living Lic #02109201