Price your San Diego home accurately at the beginning to sell for more

• The active listing inventory in the past couple of weeks increased by 63 homes, up 2%, and now sits at 3,025, its highest point of the year. In September, 44% fewer homes came on the market compared to the 3-year average before COVID (2017 to 2019), 1,857 less. Last year, there were 4,433 homes on the market, 1,408 extra homes, or 47% more. The 3-year average before COVID (2017 to 2019) was 6,841, or 126% more.
   
• Demand, the number of pending sales over the prior month, decreased by 91 pending sales in the past two weeks, down 6%, and now totals 1,464. It was the lowest October reading since tracking began in 2012. Last year, there were 1,596 pending sales, 9% more than today. The 3-year average before COVID (2017 to 2019) was 2,755, or 88% more.
   
  
   
• With supply rising and demand falling, the Expected Market Time (the number of days to sell all San Diego County listings at the current buying pace) increased from 57 to 62 days in the past couple of weeks, its highest levels since January. Last year the Expected Market Time was 83 days, slower than today. The 3-year average before COVID was 76 days, also slower than today.
   
• For homes priced below $750,000, the Expected Market Time increased from 42 to 49 days. This range represents 29% of the active inventory and 37% of demand.
   
• For homes priced between $750,000 and $1 million, the Expected Market Time increased from 44 to 47 days. This range represents 21% of the active inventory and 28% of demand.
   
• For homes priced between $1 million to $1.25 million, the Expected Market Time decreased from 52 to 51 days. This range represents 9% of the active inventory and 11% of demand.
   
• For homes priced between $1.25 million to $1.5 million, the Expected Market Time increased from 61 to 62 days. This range represents 8% of the active inventory and 8% of demand.
   
• For homes priced between $1.5 million and $2 million, the Expected Market Time in the past two weeks increased from 81 to 92 days. For homes priced between $2 million and $4 million, the Expected Market Time increased from 114 to 120 days. For homes priced above $4 million, the Expected Market Time decreased from 282 to 272 days.
   
• The luxury end, all homes above $1.5 million, account for 32% of the inventory and 15% of demand.
   
• Distressed homes, both short sales and foreclosures combined, made up only 0.4% of all listings and 0.4% of demand. Only four foreclosures and eight short sales are available today in San Diego County, with 12 total distressed homes on the active market, up two from two weeks ago. Last year there were 22 total distressed homes on the market, similar to today.
   
• There were 1,705 closed residential resales in September, 27% less than September 2022’s 2,340 closed sales. September marked a 21% decrease compared to August 2023. The sales-to-list price ratio was 99.2% for all of San Diego County. Foreclosures accounted for just 0.6% of all closed sales, and short sales accounted for 0.3%. That means that 99.1% of all sales were good ol’ fashioned sellers with equity.