Pacific Beach Real Estate Market Report for October 2013: The Market in Pacific Beach is moving towards a balanced market. This is a healthy direction to go after massive gains over the last 12-15 months. The annualized median price increase for attached homes in Pacific Beach is astounding. Over 43% jump in prices. This is very welcome news to owners whom purchased real estate in Pacific Beach before the crash in 2007. Please review the figures below:
The Pacific Beach Real Estate Market Report for October 2013:
Single Family Residence (Detached Homes)
- 64 Active Listings for Sale as of October 18th, 2013
- Average Days on Market to Sell: 77 Days (October 2012 was 49 Days)
- 18 Total Sales for October 2013 (October 2012 had 10 Total Sales)
- Median Sales Price for October 2013: $806,500 (October 2012 was $718,750) ▲ 11%
- 3.5 Month’s Inventory (64 Active Listings / 18 Sales) Seller’s Market
Condominiums and Town Homes (All Attached Homes)
- 88 Active Listings for Sale as of October 14th, 2013
- Average Days on Market to Sell: 43 Days (October 2012 was 45 Days)
- 27 Total Sales for October 2013 (October 2012 had 10 Total Sales)
- Median Sales Price for October 2013: $485,000 (October 2012 was $277,000) ▲ 43%
- 3.25 Month’s Inventory (88 Active Listings / 27 Sales) Seller’s Market
See All Pacific Beach Real Estate for Sale in the 92109
Summary: Overall, the Pacific Beach Market is very healthy. The market has slowed down from the buyer frenzy we saw the last year or so. Prices will continue to rise but in a steady sustainable manner for the foreseeable future. For potential Pacific Beach home buyers, this is a good time to purchase property. The seasonal slow down is here and sellers are willing to negotiate. This is also a good time to sell Pacific Beach real estate. The home buyers looking tend to be more serious than the “lookie loos” in the summer and spring months. more serious buyers means less low ball offers, shorter time on market, and less showings.
Questions? Comments? Please send them my way!
