You know the market has changed when you see these comments in the MLS remarks:
“Open for viewing 12:00-2:00 Sunday ONLY. No other showing times will be scheduled.”
“Offers will be reviewed at 5PM Monday” (Home went on the market Friday afternoon)
“Pending” (Home was on the market 6 hours)
“Multiple offers received—Please, no more offers!”
The San Diego market is definitely moving along! I’m a little surprised at how early this year it started to buzz. Typically, the spring season doesn’t kick off until mid-March or early April. Perhaps key factors include buyer’s acceptance that low inventory levels may be the new norm, the refreshed low interest rates (they actually dropped in January 2016), and the steadily increasing rental pricing in San Diego County.
Sellers this is good news for you, and if you do things correctly (work with a smart and experienced listing agent, prepare your home in advance, price it well), you should be on to your next adventure 30-45 days after going Active on the market.
Sellers, I will also emphasize that while buyers appear more motivated, they are also being selective. If your home is overpriced, in a poor location or has one or more significant flaws or undesirables, you may sit on the market awhile and find yourself back-peddling.
It’s still early, but all signs indicate a fast-paced spring selling season. If you haven’t called me yet, now would be a good time!