The real estate market this year has certainly defied all reason. Compared to last year at the same time. Between January 1 and August 31 the median sales price is up 29.06%. And although the news keeps saying there’s not enough inventory, what I think they’re saying is there’s not enough inventory for the increased number of buyers. I say that because the number of sales on single-family homes in 92130 from January 1, 2021 until August 31, 2021 is up 24.3%.
What does that say for the rest of the year? I think the real estate market is going to remain strong through the end of the year. The next four months will remain a strong sellers market. After the first of the year it’s anyone’s guess. The good news is that if you buy what you want and you don’t speculate you’re going to be very happy 10 years from now. It always works that way.