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Market Update – Median Home Prices in La Mesa 91941 Continue to Rise

Landscape Chart

 

This chart demonstrates the Median price increase in 91941 between May 2012 and April 25th, 2013 (today). It appears that we are finally seeing some sustained appreciation in the market overall, mostly due to the lack of available inventory, historically low interest rates and confidence returning to the marketplace.

This level of appreciation can also be attributed to basic Supply & Demand economics; home buyers now have greater confidence and believe the economy is improving, so they are out looking to buy and take advantage of historically low interest rates. Many traditional home sellers who would like to sell are still under water and unable to provide the much needed inventory that the Marketplace desires. This limit on inventory puts upward pressure on pricing for available inventory of traditional sellers, short sales and the few and far between foreclosure sales.

For home sellers that have equity and are looking to take advantage of this opportunity, this may be a great time to sell.