This Week
The median list price in SAN DIEGO, CA 92127 – Rancho Bernardo
this week is $754,500.
Inventory is tightening and days-on-market is falling. The Market
Action Index shows demand heating up. These are relatively bullish
signs for prices.
Supply and Demand
Home sales have been exceeding new inventory for several weeks.
Since this is a Buyer’s market prices are not yet moving higher as
excess inventory is consumed. However, as the supply and demand
trends continue, the market moves into the Seller’s zone, and we are
likely to see upward pressure on pricing.
Price
We continue to see prices in this zip code hovering around these
current levels, even though they bumped up a bit this week.
Look for a persistent up-shift in the Market Action Index before
we see prices move significantly from here.
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