Whether you are looking to buy a home or investment property, chances are you’re looking to purchase a home that will increase in value over time — preferably quickly so you can sell it at a profit down the road.
In February 2016, National Association of Realtors® released it’s Quarterly Report, and San Diego was one of the five most expensive housing markets in the fourth quarter of 2015. Here is the list of five most expensive housing markets.
1. San Jose, $940,000
2. San Francisco, $781,600
3. Honolulu, $716,600
4. Anaheim-Santa Ana, $708,700
5. San Diego, $546,800.
Out of these 5 Markets, San Diego ranked the fastest in price appreciation and ranked 24th overall nationally.
The main challenge for home buyers in San Diego so far in 2016 continues to be insufficient supply. Demand has held steady during the winter months. Serious buyers should be prepared to act fast, and remain in close communication with a Buyers Agent to deploy a negotiation strategy that fits their budget. Even in these typically slower winter months, listings in affordable price ranges are going under contract quickly.