Pacific Beach Real Estate Recent Market Trends
Pacific Beach Market Analysis
As a seller in the current real estate market, it is important to understand the correlation between key metrics in order to make informed decisions.
The Months Supply of Inventory is a crucial metric to consider, as it indicates the balance between supply and demand in the market. With a 3.62 months supply of inventory, we are in a seller’s market where there is high demand for homes relative to the available supply.
The 12-Month Change in Months of Inventory of +33.58% signifies an increase in inventory over the past year. This could indicate a shift towards a more balanced market, but it is still relatively low compared to a buyer’s market.
The Median Days Homes are On the Market is 18, which is a quick turnover time. This suggests that homes are selling quickly, likely due to the high demand in the market.
The List to Sold Price Percentage of 99.3% indicates that sellers are typically receiving close to their asking price. This is a positive sign for sellers, as it shows that buyers are willing to pay close to the listed price for homes.
Finally, the Median Sold Price of $1,168,500 is a strong indicator of the current market value of homes in the area. Sellers can use this information to price their homes competitively and maximize their potential profit.
Overall, the data suggests that sellers are in a favorable position in the current real estate market. With low inventory, quick turnover times, and strong list to sold price percentages, sellers have the opportunity to capitalize on the high demand for homes. By understanding these metrics and using them to inform their decisions, sellers can set themselves up for success in the market.