Hey folks, I’m writing this post to answer the number 1 question that’s been on everyone’s mind, where are the opportunities in San Diego now that the market has shifted, and where are they likely to be in the coming days?
We are in a buyers market
Recently, the market has definitely shifted to more of a buyers market. However, we are still very much in a hot market, with a lot of transactions taking place, especially in coastal neighborhoods with little inventory, where homes that are displayed well and priced right will fly right off the market. Furthermore, if you go further inland into pockets such as North Park or Rancho, Santa Fe, or even good areas like San Marcos you will still see a lot of transactions happening.
Where do the opportunities lie?
Taking into account the rising inventory levels and number of transactions taking place, I’ve honed in on areas of opportunity in San Diego. In north county, I saw the most inventory start to build up in Rancho Del Oro, Oceanside; a great pocket of single-family homes where we’re starting to see some really good deals emerge.
The second spot was North San Marcos. We’ve been working the area a bit and have been spotting some sweet deals come out of that spot too. I also tried finding a neighborhood on the coastline that’s heating up, and as rare as it was, the only area I found was Village Park in Encinitas.
These are the three areas that really stood out to me, but what about the San Diego city and metro area? While it’s largely a mixed pot, I certainly see opportunity in East Clairemont. Some listings have begun to pop up around the 805 stretch, and if they sit on the market for a while I’m sure people will find good deals there too. We’re also seeing some inventory build up in the college area, where many homes have already been sitting for a while. This gives buyers the upper hand and creates more opportunity.
Where have you guys noticed inventory building up and opportunity knocking? I’d love to know so please leave your recommendations down in the comment section below!
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