Navigating San Diego’s 2024 Real Estate Boom
Insights from Kerry Appleby
In San Diego’s tumultuous real estate market, Kerry Appleby from Appleby Family Group offers valuable perspectives on the trends shaping 2024. With a finger on the market’s pulse, Kerry delves into notable trends, North County’s performance, and imparts expert advice for both buyers and sellers.
The housing shortage and low inventory create a favorable climate for sellers, especially with mortgage rates expected to settle around 6% – 7% by spring. Despite strong buyer demand, Kerry emphasizes the need for realistic pricing to optimize opportunities for sellers.
In North County, sellers maintain a slight advantage overall, while Rancho Santa Fe sees a shift in favor of buyers. Notably, price reductions in larger estates make sellers more open to negotiations. Coastal markets like Point Loma, La Jolla, and Del Mar remain popular, with Carmel Valley leading as the fastest-moving market.
As the San Diego market propels into 2024, Kerry Appleby underscores the intricate dynamics influencing both buyers and sellers. The current surge in home prices, averaging $912K as of December 2023, lays the groundwork for what promises to be a pivotal year for San Diego’s real estate sector.
Bolstered by a forecast predicting an 11.0% uptick in home sales and a 5.4% rise in median sales prices, San Diego is poised to secure its position as the fourth-strongest U.S. real estate market in 2024. A testament to the city’s desirability, this forecast is music to the ears of both buyers and sellers.
On the seller’s front, Kerry stresses the significance of pre-market preparations. Collaborating with a network of professionals, Appleby Family Group assists sellers in making cosmetic renovations, decluttering, and presenting their homes in the best possible light. The advice extends to downsizing sellers, encouraging them to consider consignment and donation options to meet the high demand for turn-key homes.
The success of Appleby Family Group is not only rooted in market expertise but also in the strength of relationships with fellow agents. Kerry highlights the strategic advantage gained through weekly communication with other agents, providing early access to market insights and off-market listings.
In a city known for its diverse neighborhoods and scenic beauty, navigating the San Diego real estate market requires a blend of market knowledge, strategic planning, and community engagement. As the Appleby Family Group remains a trusted ally in this dynamic landscape, Kerry Appleby’s insights serve as a valuable compass for those navigating the exciting and competitive San Diego real estate scene in 2024.
