,

End of the year Market Update for La Mesa, CA. 91941

I must admit; I love charts! For you visual folks out there, I have found there is no better way to convey market conditions over time than with charts or infographics.
Below I have provided charts that are based on my ongoing research of the local market.  We had some very interesting market action in the first and second quarters of the year!
Take a peek at the info below. As always, these charts are generalizations. We have a very diverse stock of homes in 91941, so if you are interested in a precise valuation of your home,
just let me know.

Median prices shot up during the first quarter, as a result of extremely low inventory of homes for sale. Classic supply/demand economics in effect.

 

This chart is really interesting. Typically when we have rising prices and limited inventory, the average days on market (DOM) is low as well. As you can see, it took a while for the market to adjust, and DOM fell sharply as a result.

 

This spike in Median price is a direct result in limited supply of inventory, as well as interest rates at historic lows. The low rates allowed more buyers into the marketplace, with few choices. Prices rose dramatically as a result.

If you would like to receive a detailed Market Update for this or any other zip code in San Diego County, please CLICK HERE.