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San Elijo Hills Market Update

14 homes sold in July 2019
23 homes are pending in escrow
The average sales price was $845,000 or $338 per Sq Ft.
42 homes are active on the market or 2.8 months of inventory
The average time on the market is 22 days

If you are one of the many San Elijo Hills homeowners considering buying a home this late summer/fall, let’s get together to help you find a house with the potential to be your dream home!

We’re in the back half of the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the predictions are for the remainder of 2019.

Here’s what some of the experts have to say:

Ralph McLaughlin, Deputy Chief Economist for CoreLogic

“We see the cooldown flattening or even reversing course in the coming months and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.”

Lawrence Yun, Chief Economist at NAR

“We expect the second half of year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates.”

Freddie Mac

“The drop in mortgage rates continues to stimulate the real estate market and the economy. Home purchase demand is up five percent from a year ago and has noticeably strengthened since the early summer months…The benefit of lower mortgage rates is not only shoring up home sales, but also providing support to homeowner balance sheets via higher monthly cash flow and steadily rising home equity.”

Ed Philbrick-Coastal Premier Properties

I have two decades of San Diego real estate experience. I’m committed to helping your family find a safe, solid community home and help you invest for the future. My goal is to earn a five-star review by providing an exceptional experience. I’m not the biggest team in town, but I personally handle your sale or purchase from beginning to end.