When Is The Best Time To Sell A House In San Diego?
The truth about real estate is that you time the market. But, on a personal level, there are so many considerations that go into deciding to sell. So, when it comes to talking about when the best time to sell a house in San Diego is, from a financial standpoint, the answer is always going to be 5,10, 20 years ago. What’s most important is researching to make sure you’re as informed as possible and checking in with your goals and aspirations to feel confident and solid in your decision.
Today we’re exploring the key factors every homeowner should know when considering selling their home–both from a real estate perspective and a personal one. While we’re focusing specifically on the San Diego housing market, these topics can and should be applied to all homeowners thinking of selling, regardless of location.
So, what are the things you need to consider?
The Current State Of The Market
Real estate is in constant flux, rising and falling due to supply and demand. As a homeowner looking to sell, you want San Diego to be a seller’s market, meaning that the housing demand is greater than the houses available. A seller’s market is competitive and fierce. A buyer’s market is the opposite. When the housing demand is lower than the houses available, the value of the home decreases.
According to the latest data from Redfin, “on average, homes in San Diego sell after 8 days on the market compared to 15 days last year.” The market is hotter than it’s ever been, so, as a homeowner, you’re at an advantage.
What’s our prediction for the state of the market?
We don’t see this changing anytime soon. Our post-pandemic business world has opened up to remote working, and we’re seeing more people moving to this beautiful city every day. As a Kensington property management business with homes on our roster all over town, prices are going up across the board, even in rent.
Time Of Year
San Diego has a very temperate climate year-round, but if you’ve been here for a while, you know that some months are better than others (we’re looking at you, August – October). If you’re looking to optimize the profit of your sale, we encourage putting your house on the market during the most beautiful months of the year, which, uncoincidentally, lines up with when the most tourists are in town (which also works to your advantage).
Fortunately for you, tourism is one of San Diego’s driving economic forces, bringing in over 35 million visitors a year, according to San Diego Regional EDC. Most visitors stop in throughout the Summer months when the sun shines high, the kids are out of school, and there is so much to see and do outdoors. It is during this time that your home will have the most curb appeal and when people will feel most compelled to live here.
Completed Home Improvements
Home improvements of only a few hundred or thousand dollars can exponentially increase your home’s value and are sure to pay off when you decide to put it up on the market.
If you’re thinking about selling your home and can think of a few relatively painless upgrades or home improvements that would make your home shine, it’s likely to pay off once the for-sale sign makes its stake into your front lawn.
Why? Because upgrades and aesthetics could give you the competitive edge in San Diego’s extremely competitive and blazing-hot market right now. While San Diego’s rarest and oldest Victorian houses were built in the second half of the 1800s, there was a huge housing boom in the 1940s during and after World War 2. Contractors during this time bragged about building “300 houses in 300 days,” and San Diego’s population jumped over 50% in one year.
This minor history lesson says that a lot of San Diego homes are old and dated. But, as you know, it is a seller’s market, and the demand for housing is far greater than the actual homes on the market right now.
This past year, the median home price in San Diego County jumped 14%, according to OJO Labs. Current homeowners see a great return on investment when they sell their homes. So, while your future home sale is already looking bright, having an updated kitchen or an HVAC system, for example, could exponentially increase your profit margin.
While there are metrics and real-world checklists that help homeowners understand whether it’s a good time for them to sell their home or not, the best time comes down to a personal choice.
You want to change where you call home? That decision can only come from you.
A lifestyle change may be the driving force of wanting to sell your home, and while perhaps that time isn’t when the market is the absolute hottest, it may be the best time for you to make the changes you’re looking for. Knowing if the time is right requires a solid understanding of exactly what you want and the driving forces behind that desire.
We’ve helped people sell their homes for reasons that run the gamut–wanting a change of pace, wishing to be closer to family, interest in growing the family, heading back to school, moving for a job, looking for a change in scenery and climate–the limit truly does not exist.
How can you figure out if your desire for a lifestyle change is worth it? We recommend grabbing a pen and paper and writing a pro/con list. What would you personally gain from moving? These can be both tangible (like finances) and intangible (like happiness). Having your thoughts visually displayed in front of you rather than within your mind takes some of the stress off your shoulders and may help you see the bigger picture and weigh your options.
Our Final Thoughts
There is no right or wrong time to sell a house so long as you feel confident and content with your choice. San Diego’s housing market is and will be hot for the foreseeable future, but for the decision to feel content with your choice, you need to feel ready and excited by the prospect of selling.
If you’re interested in selling, buying, or property management in San Diego, we’re your gals. We also work as experts in the Palm Springs and New York real estate markets, but our office and families reside in the sunny Kensington neighborhood here in San Diego. While there are many property managers in California, we pride ourselves in our commitment to our clients, serving beyond a contractual agreement and connecting personally. We care about our work—and we have fun doing it.
You can contact us here, we look forward to hearing from you!