Table of Contents
Home to over 1.4 million residents, San Diego is a coastal city with a laidback beach town vibe enhanced by an array of world-class attractions and big-city amenities.
Known as “America’s Finest City,” this scenic Southern California metropolis is a place unlike any other, with its year-round idyllic climate, miles of sun-kissed shorelines, vibrant urban core, and variety of top-rated attractions.
If you’re planning to buy or sell a home in San Diego, you’ve come to the right place. On this page, we provide an overview of the city’s current housing market to help you make well-informed decisions. We’ll also take a closer look at the many advantages you can get when you work with an experienced and knowledgeable San Diego realtor.
San Diego’s real estate market at a glance
Overview of San Diego’s real estate market
San Diego’s real estate market is as diverse as the city itself, from its picturesque beach neighborhoods to its trendy urban neighborhoods located further inland, each offering its own unique charm and character.
With all the city has to offer, it’s no surprise that its real estate market is one of the most competitive in California. Listings here typically receive multiple offers, and some even include waived contingencies.
When compared to the national average, San Diego real estate prices seem steep. But when considering other California markets, however, you’ll find the San Diego market relatively more affordable.
Over the past few years, home prices and sales have been increasing in most housing markets across Southern California, and San Diego is certainly no exception. The median home price in the region has increased by double digits for nine consecutive months in 2021. Available homes are selling at a brisk pace, often fielding multiple offers that are well beyond the seller’s asking price.
While experts predict strong homebuyer demand to remain in 2021 leading towards 2022, increasing mortgage rates could present a challenge.
Despite San Diego’s growing housing market, new construction developments have actually slowed down in recent years. Construction of single-family homes is below market demand, which makes this particular sector of the market highly competitive. Multi-family housing developments such as condos, on the other hand, have been growing at a faster rate.
Common architectural styles in San Diego
Homes for sale in San Diego are available in a variety of stunning architectural styles, such as:
- Craftsman
- Contemporary
- Mediterranean
- Midcentury Modern
- Mission Revival
- Ranch
- Spanish
- Victorian
Typical features of San Diego homes
San Diego homes are available in a wide range of sizes, styles, and floor plans, and can accommodate any type of requirement or preference. Some of the most common features in San Diego homes are:
- Open floor plans
- Hardwood floors
- Spacious living areas
- Gourmet kitchens with top-quality stainless steel appliances, custom cabinetry, and stylish counters
- Master bedrooms with spacious walk-in closets
- Elegant bathrooms
- Expansive yards and outdoor features like patios, sundecks, and terraces perfect for entertaining
- Plenty of storage space
- Convenient access to nearby amenities
Benefits of working with a San Diego realtor
No matter what your real estate goals are, it pays to work alongside an experienced San Diego realtor to help you navigate the city’s dynamic housing market with ease. When you work with a realtor specializing in the San Diego real estate market, you’ll be able to make better, more well-informed decisions to help you attain your goals.
Why work with a realtor?
Considering whether or not to hire a real estate agent is one of the major decisions faced by those planning to buy a new house or put their current residence on the market.
Some people choose to forego working with a realtor or agent simply to avoid paying real estate agent fees. There are also others who might have had a bad experience with a particular agent in the past, which could dissuade them from hiring another one.
However, these common reasons only highlight the importance of working alongside a good real estate agent. In case your only reason for not hiring an agent is to save more money, chances are, you may not be aware of the many other benefits you can get when you work with an agent to fulfill your real estate needs.
Whether you’re a buyer, a seller, or a property investor, here are some of the main reasons why hiring a real estate agent is a smart decision:
Real estate agents know exactly what you’re aiming for and how to get it
Homebuyers and property investors are usually set on the type of property they want to buy and already have an idea of most of the specifics, from the number of bedrooms and bathrooms, square footage, the non-negotiable features, and so on.
One can already begin their search for a home once they’ve established something to aim for. However, there will likely be other properties that might cause you to rethink your goals. So how will you find a home that won’t just accommodate your needs and preferences, but your budget as well?
Without a realtor at your side, you’ll have no choice but to choose from all of the different options on your own, which is often a stressful and time-consuming process. With an experienced and knowledgeable real estate agent, however, you’ll have someone who will narrow down your list of options based on your requirements and preferences.
Looking for an ideal home that matches your needs and budget is a realtor’s job. They typically know all about the current properties available, so they’ll be able to quickly provide a list of options based on your goals.
In-depth market knowledge
Real estate agents understand all of the current trends and conditions in the real estate markets they specialize in. This is one of the main reasons why most property investors hire real estate agents. The best agents possess extensive information on all relevant aspects of the housing market, including how certain factors like the city’s unemployment rate or mortgage interest rates can affect it. They have in-depth knowledge of the different neighborhoods, the homes available, and other important facts that can help you attain your real estate goals.
Real estate agents are well-versed in analyzing real estate data, including average and median sale prices, the average price per square foot of comparable homes, list-to-sold ratios, and other data points that are relevant to your transaction.
Alert you to problems before they even happen
If you’re a buyer, you want to find homes that are in excellent condition so you can avoid spending on repairs after your purchase. This applies to sellers as well – you want to make sure your home is in tiptop shape before it’s on the market to attract more buyers and fetch a higher sale price.
While these are some of the more common problems for buyers and sellers, there could be more unexpected problems along the way that could potentially derail your transaction.
Working with a real estate agent helps you avoid many potential issues that you likely would not spot on your own. They have the experience and training required to identify underlying problems such as mold, pest issues, roofing problems, or structural damage.
If you’re a buyer, your agent will give you sound advice regarding reasonable repairs to request. If you’re a seller, your agent will come up with a strategy to resolve any issues detected in your home before it’s put up for sale. Keep in mind that your agent’s primary role is to protect your best interests, which will help you save a significant amount during your transaction.
Access to valuable resources
Networking is an integral part of the real estate industry. Agents who have spent years in the business know just about everyone involved in every single step of the home buying or selling process and have a long list of trusted providers they’ve previously worked with.
This is one of the best advantages buyers and sellers can get if they work with a real estate agent. If you’re selling your home, for example, your agent will provide you with a list of professional contractors, stagers, landscapers, plumbers, home repair companies, and other people that can help prep your home for the market.
This is a great benefit for buyers as well, as they’ll also need to work closely with professionals such as mortgage lenders, real estate lawyers, home inspectors, and appraisers.
Without a real estate agent, you will need to spend time researching various individuals and companies and get in touch with them on your own.
Save more time and energy
Real estate transactions are often a long and time-consuming process, especially if you’re a first-time buyer or seller. When you work with a real estate agent, however, the process can be easier and more streamlined for you.
If you’re selling a property, your agent will be in charge of handling showings and hosting an open house, which frees up a significant amount of time from your schedule. They’ll also respond to any inquiries and help you identify serious prospective buyers.
If you’re looking to purchase a property, your agent will handle the heavy lifting by giving you a list of homes that closely match your requirements and budget, while shielding you from any marketing ploys commonly used by sellers.
In addition, real estate transactions involve copious amounts of paperwork, which includes contract documents, state and federal-mandated disclosures, settlement statements, formal offers, and more. When you hire a real estate agent, you’ll have someone who knows how to handle everything, which makes the entire process easier and more convenient.
Whether you’re buying or selling a home, hiring a real estate agent is a smart move. Realtors and agents rely on referrals and repeat clients to maintain their business, which means they’ll go above and beyond to make sure you’re satisfied with the service they provide. Additionally, the agent you choose to hire will also be there whenever you need to buy or sell another home, so you’ll be able to depend on someone for your future real estate needs.
Helpful tips on how to find an excellent realtor
Finding the right realtor can be a challenge, but as long as you do your research and know what qualities to search for, you’ll be able to find a qualified professional that will guide you towards your goals.
Here are several tips:
Get in touch with a lender before you hire an agent
Contacting a mortgage lender before you start your search is always a good move since you’ll be able to know how much you can afford.
When you get preapproved for a mortgage, you’ll know the maximum amount the lender will provide, which puts you in a favorable position during the early stages of the process. In addition to narrowing your options down to only homes that fall within your price range, it shows sellers and potential realtors that you’re a serious buyer as well. And in a competitive market like San Diego, having a preapproval letter can give you an edge over other competing buyers.
Ask for referrals
Ask your coworkers, friends, or family members if they can recommend a realtor they’ve had a good experience working with. Keep in mind, however, that you want an agent who specializes in clients with the same goals. For example, if you’re a first-time homebuyer, your needs are different than buyers looking to downsize.
Interview several agents
Interviewing potential agents gives you an opportunity to get a feel of their style, how they communicate, and what type of experience they’ll be able to bring to the table. Your main goal is to find a realtor who is familiar with your chosen area and understands your needs and your budget.
It also gives you a chance to gauge the agent’s availability and preferred communication method. If you prefer talking on the phone and are only free after work hours on weekdays, for example, then you’ll want to hire an agent who can accommodate both your schedule and method of communication.
Request references
Ask a realtor if they’ll be able to provide information on properties that they’ve listed and sold during the past year, along with the contact information of some of their most recent clients.
Get in touch with those clients and ask them about their experience with the agent. Find out how the agent helped them accomplish their goals and the level of support they got during the process.
Do your research
An agent’s online presence will give you a glimpse of the quality of service they provide. Start by visiting the agent’s website and social media pages to gain further insight into their background, and see how involved they are with the community and how they interact and engage with other clients.
Ideally, your search for an agent should take place several months before you get preapproved for a mortgage. While you’re researching, it’s also a great time to think about the features you’d like to have in your new home.
Be on the lookout for these qualities
One of the keys to finding an excellent real estate agent is knowing what qualities to look for. Realtors wear different hats during different stages of the process, taking the role of buyer’s advocate, salesperson, analyst, consultant, marketer, and business manager, among several others.
When you’re trying to find the right person for the job, be on the lookout for these traits and qualities that many successful real estate professionals share:
- Passion for what they do – Working with someone who is passionate about what they do will give you a big advantage during the home buying or selling process.
- Attention to detail – A skilled real estate agent knows how to pay close attention to the details that matter, and is attentive to the needs of their clients.
- Self-motivated – Being successful in real estate requires a high level of self-motivation, unwavering dedication, and strategic decision-making.
- Honesty and integrity – An agent who’s a member of the National Association of REALTORS® abides by a strict code of ethics and practices high ethical standards.
- Problem solver mentality – The best agents are experienced in coming up with creative solutions to the most difficult problems.
Work with the top San Diego REALTOR® today!
Are you ready to navigate San Diego’s exciting real estate market? Chris Sloan is here to make sure you accomplish your real estate goals in San Diego seamlessly and efficiently. As the #1 San Diego REALTOR®, Chris has firmly established his reputation for delivering unparalleled, client-centric service for buyers, sellers, and investors in San Diego and other adjacent areas throughout Southern California.
With Chris, you get access to extensive resources, in-depth information on the market, and all of the tools you need to make your transaction easy and stress-free. Whether you’re looking for your dream home or planning to put your current residence on the market, you’ll be hard-pressed to find a more experienced and dedicated San Diego realtor to have at your side than Chris.
Fulfill your San Diego real estate goals today! Get in touch with Chris Sloan today at 858.500.3903, or send an email to info(at)sandiegopropertysearch(dotted)com