The median list price in SAN DIEGO, CA 92127 – Rancho Bernardo this week is $1,399,500. The Market Action index has been trending down lately, while days-on-market is climbing, providing mostly bearish signs for the market.
Supply and Demand
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Recently prices in this zip have settled at a plateau even though they dipped this week. Look for a persistent up-shift in the Market Action Index before we see prices significantly move from these levels.
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For more information about single family homes in SAN DIEGO, CA, 92127, contact Lucy Kelts.