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San Diego Housing Market Trends

San Diego Housing Market TrendsIn January 2022, San Diego home prices were up 19.3% compared to last year, selling for a median price of $811,000. The average days on the market was only 11 days as opposed to 17 days last year. The total number of homes sold this January was 933, down from 1063 last year.

It is obvious that the housing market remains hot in the San Diego area. According to Redfin many homes are still getting multiple offers, some with waived contingencies.

The average home is selling for about 3% above listing price and go pending in around 10 days. The “hotter” home can sell for about 8% above listing and go pending in around 6 days. The sale-to-list price for all home types was 103% in January.

The San Diego market reflects much of the rest of the California’s larger cities and their environs. Buyers are finding it difficult to lock in a deal and sellers are happy to have several offers from which to choose.

If you have been discouraged by failing once or more to secure a home with your offer, consider a private mortgage loan from Sun Pacific Mortgage. Your offer will stand out in the crowd as a “cash offer” with a very quick closing, both strong incentives in this market. We have been able to execute closings in as little as a week because of our inhouse operation.

Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com to discover what we can do for you to strength your offers and get you into the home you have chosen.

Here To Help Make Your 2017 Great!

We want to help make your 2017 even better by providing you with great alternative financing for your real estate needs. See our latest loans completed – below.

Our loan approval is based on just two things:

  1. Good down payment or equity in the property.
  2. Ability to repay.

We have loaned up to 75% of the value of the property and we finance Jumbo Loans commonly. Call us today at (707) 523-2099 or drop us an email with any questions or scenarios.

We stand ready to help kick off your new year!

 

Recently Funded:

Ontario, California (San Bernardino County)
Loan Program: Non Owner Purchase
Loan Amount:$337,500
Days To Fund: 23 days
Loan To Value: 69%
Why Turned Down Elsewhere: Bankruptcy

 

Malibu, California (Los Angeles County)
Loan Program: Owner Occupied Purchase Bridge
Loan Amount:$890,000
Days To Fund: 7 days
Loan To Value: 65%
Why Turned Down Elsewhere: Property condition was poor.

 

Carlsbad, California (San Diego County)
Loan Program: Owner Occupied Refinance
Loan Amount:$365,000
Days To Fund: 9 days
Loan To Value: 34%
Why Turned Down Elsewhere: FICO score not good enough.

 

Thousand Oaks, California (Ventura County)
Loan Program: Commercial Refinance
Loan Amount:$340,000
Days To Fund: 13 days
Loan To Value: 72%
Why Turned Down Elsewhere: Had a foreclosure on record.

 

Carpenteria, California (Santa Barbara County)
Loan Program: Owner Occupied Temporary
Loan Amount:$235,000
Days To Fund: 18 days
Loan To Value: 70%
Why Turned Down Elsewhere: Needed a fast, short term loan.