Stone Real Estate Group

#1 Real Estate Seller in 92130 Since 1987

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MARCH 2023

March 29, 2023 by Richard Stone Leave a Comment

Statistically we are beginning to feel the brunt of these high mortgage interest rates. 30 year mortgages on jumbo loans were over 5.9% this morning. Our median sales price in 92130 is down 19.3% over a year ago. The days on the market have gone from eight days in February 2022 to 55 days in February 2023. Despite all of this I still am receiving multiple offers on most of my listings. Buyers are much more aware of the current prices and are not willing to pay a ridiculous premium as they were willing to do all the way up until June 2022 when the feds doubled the interest rates. I believe the reason we have only dropped 19.3% in the median sales price is because inventory levels are still low. Only time will tell. 

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Richard Stone

Phone: 858-481-7653
Email: [email protected]

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Richard Stone – CA BRE# 00874215
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Providing Comprehensive Real Estate Services to Home Buyers and Sellers

Stone Real Estate Group
12750 High Bluff Drive
Suite 300
San Diego, CA 92130
Phone: 858-481-7653
Email: [email protected]

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