4th Quarter Del Sur Market Snapshot
2016 4th Quarter Del Sur Market Snap Shot and Trends
By Brian Danney
Over the course of the past few months, buyers looking to establish themselves in Del Sur have paved new themes and trends in the marketplace. With limited inventory available, buyers are coming in quick and aggressive to secure their position for their desired home. This is especially true for homes that have particular features and floor plans.
Specifically in the Del Sur area, it has been a very active market the past three months. In total, there have been fifty-four homes placed on the Multiple Listing Services (MLS) as Active, Pending or Sold status. Of those fifty-four homes, six are newly constructed (standing inventory), which implies new build options are shrinking. Meanwhile, twenty-two of the fifty-four homes had casitas, optional bedrooms or full bed/bath downstairs. This has been more than 40% of the activity. Other trends include floor plans with five bedrooms, which accounted for nine homes that went under contract. It's important to note that these floor plans averaged around thirty-eight days on market. To no one’s surprise, thirty-four of the homes were priced under $850K. Thirteen of those were three-bedroom floor plans.
Given the recent trends in Del Sur, I expect homes to continue to drive the supply and demand as it's a highly sought after neighborhood. I wouldn't be surprised to see minimal new inventory and less time on the market as we head into the First Quarter of 2017. If you have any questions regarding the current market trends in your neighborhood or have hopes of getting ahead of the market, please do not hesitate to call our office at 858-465-7927.
Lead Buyer Specialist
Cal BRE 01834669
Beer Home Team