Real Estate Pacific Beach

As a seller, it is important to understand the correlation between various real estate metrics in order to make informed decisions when listing your property.

The Months Supply of Inventory is a key indicator of market conditions, with a current value of 3.16. This metric represents the amount of time it would take for all current listings to sell at the current sales pace. A lower number indicates a seller’s market, where demand exceeds supply, leading to quicker sales and potentially higher prices.

The 12-Month Change in Months of Inventory has increased by +25.9%, indicating a shift towards a more balanced market compared to the previous year. This change suggests that there may be slightly more inventory available, which could potentially lead to longer days on the market and lower list to sold price percentages.

With a median of 29 days on the market, homes are selling relatively quickly in this market. This metric reflects the average amount of time it takes for a property to sell, with a lower number indicating high demand and potentially higher prices.

The list to sold price percentage is currently at 97.7%, indicating that sellers are typically receiving close to their asking price. This high percentage suggests that properties are priced competitively and that buyers are willing to pay close to the list price.

Lastly, the median sold price in this market is $1,553,000. This metric represents the middle point of all sold prices, with half of the properties selling above this price and half selling below. This high median price suggests that properties in this market are selling at a premium.

Overall, these metrics paint a picture of a market with relatively low inventory, high demand, and competitive pricing. As a seller, it is important to consider these factors when listing your property to ensure a successful and profitable sale.