San Diego Housing Market Statistics
Questions About Selling a House in San Diego
What’s the housing market like in San Diego?
For many people, San Diego is basically the perfect place to live. In fact, that’s the case with enough people that finding a house can be difficult. San Diego housing is some of the most expensive in the United States. The median sale price of a house in San Diego is a jaw-dropping $660,000, and the cost of a house is steadily increasing at about 10% a year. Those elevated prices are a blessing for sellers. Whether you’re looking to get rid of a property quickly or sit on it for a while, you can expect to get a good return on your investment—and that’s not likely to change any time soon. The one thing you should think about when trying to sell a house in San Diego is that the neighborhoods are diverse, and each tends to come with its own sense of personality. So if you’re selling a San Diego home and trying to make the most of it, you may want to refer to a professional who understands these neighborhoods and already has connections and resources in place.
How old are the houses in San Diego?
San Diego is a rich city, and that means the city has a decent amount of money to preserve their history. San Diego has a whole lot of historic districts, and each of them offers a new angle on the history of the city. If the house you’re selling is older, you may want to exercise a little more due diligence so you can court potential buyers who see that age as an asset.
How long does it take to sell a house in San Diego?
San Diego prices wouldn’t be so inflated if there wasn’t a demand for housing. That’s a good thing for sellers. The crowded market means that a house put on the market will close in 14 days on average. That’s less than half the 30-day average it takes to sell a median house in the greater United States.
What is the best time to sell a house in San Diego?
Considering how much demand there is in the San Diego housing market, it’s a bit surprising to see how much pricing can fluctuate throughout the seasons. If you sell your home in the first four months of the year, you’re likely going to get less than the market value for your home—although only by a few percentage points. But the high price tags of San Diego homes ensure that even a percentage point can constitute a whole lot of money. The absolute best times to sell your house are June and December.
What taxes do I pay when selling a house in San Diego?
The biggest expense when selling a house comes from capital gains taxes. Depending on the cost of your house, capital gains could cost you as much as 20% of the value of your house. That’s in addition to federal, state, and local taxes as well. Fortunately, capital gain costs can be offset completely for most homeowners, at least to a value of up to $250,000.
What’s the fastest way to sell a house in San Diego?
If you don’t have years of training, you simply aren’t going to be able to compete with the pros. And a realtor can be time-consuming and expensive. If time is a high priority and you need cash fast, you can always pursue a company like Sundae that will buy your house as-is. The reward may be lower, but so is the risk. And when it comes to flipping an expensive property like a house, minimizing your risks is something you should be paying very close attention to.