March 2023 Newsletter

Hello March! Spring time is in the air! March welcomes us by breathing life into the season as it brings us the Spring Equinox, St. Patricks Day, and kicks off the busiest time of the year in real estate: the Spring Market! Read on for real estate news, local events, and seasonal tips, curated just for you. 

San Diego Real Estate

Over the last month we experienced demand surging higher and inventory falling throughout the county. Below is a current snapshot of the San Diego real estate market:

Buyer demand (measured by the number of pending listings) is 2,293 units, a 35% increase over the past month –  a level we haven’t seen since September 2022. Although demand is up since last month it is still at a significantly lower level compared to historical February data. Last year at this time, demand was 10% more than today and the 3-year average before COVID (2017 to 2019) was 3052 units, or 33% more than today. The most significant variable causing lower February demand: Fewer sellers are listing their homes creating low supply levels (buyers cannot purchase what is not available). We expect demand to continue increasing until it peaks around mid-May.

Active inventory continued to fall throughout February, contrary to the historical trend of inventory increasing in February as illustrated below.

Active inventory now sits at 2,137 units for sale across the County at all price points – levels we haven’t experienced since April 2022. For perspective, the 3-year average before COVID is more than double current levels. In March, as housing transitions into the Spring Market, more sellers will list their homes for sale, but it will be muted as homeowners continue to “hunker down,” unwilling to move due to their current underlying, low fixed-rate mortgage.

With demand surging higher and the supply falling, the Expected Market Time (the number of days to sell all San Diego County listings at the current buying pace) decreased from 45 to 39 days in the past couple of weeks, its lowest level since May 2022.

Mortgage interest rates heavily impact the real estate market, not only in affordability for buyers but also the number of homeowners willing to sell. If you are a buyer who has been searching for a home and are feeling discouraged with limited options, reach out to me to learn more about our private exclusive inventory at Compass. These are listings for sale that are not marketed to the public (you won’t find these on Zillow, Redfin, or Truila). The home you have been searching for may be for sale after all. If you have been considering selling, now may be a great opportunity to list your home with far less competition. I’d be happy to discuss your personal circumstances and create a plan to achieve your next real estate goals!

Recent Activity

Thank you to our wonderful clients and friends for trusting us to help you achieve your real estate goals!

PENDING
College AREA

4585 El Cerrito Drive

3 BD   2 BA   1935 SF  

PENDING
Casa de Oro-Mount Helix

1675 Chase Lane

5 BD   4 BA   2978 SF   

PENDING
College area

6271-6273 Stewart St

Front House: 2 BD  4 BA  884 SF
Back House: 4 BD  2 BA  1,170 SF

SOLD
College West

5555 Mary Ln Drive

8 BD   4 BA   2970 SF   $1,550,000

SOLD
Pacific Beach

1453-1455 Thomas Avenue

$1,770,000
Front House: 2 BD  1.25 BA  719 SF
Back House: 1 BD  1 BA  540 SF

Make-A-Wish
Trailblaze Challenge 

I am excited to participate in my first Trailblaze Challenge on June 2-4. This is a 1 day, 28-mile hike on the Pacific Crest Trail to raise awareness and money for San Diego kids with critical illnesses waiting for a special wish to be granted.

Make-A-Wish Foundation grants more than 15,000 wishes nationwide every year. But that’s only 50% of the eligible kids. On average, every hour of every day three children are diagnosed with a critical illness. Every one of these kids needs a wish to give them strength and hope to help them heal. I’m fundraising so more deserving kids and their families can know the true happiness, relief, and renewal a wish can bring.

These essential wishes are only possible because of supporters like you. Make A Wish receives no federal or state funds.

If you would like to track my journey click here for photos from my weekend training hikes.

Will you help me support Make-A-Wish on behalf of kids like Nicole, Jade, and Zayden by donating today?

Click here to donate!

Local Happenings

March 1st - May 14th

Carlsbad Flower Fields

The nearly fifty acres of Giant Tecolote Ranunculus flowers that make up the Flower Fields at Carlsbad Ranch in Carlsbad, California, are in bloom for approximately six to eight weeks each year. This annual burst of color is one of nature’s official ways of announcing the arrival of spring here in Southern California.

Click Here For More Info

MARCH 17TH

St. Patrick's Day

Gather up your favorite lads and lasses and celebrate the one day a year where everyone's Irish. San Diego offers parades and celebrations suitable for the family and your little leprechauns, and late night parties and pub crawls with ever-flowing green beer for the grown-ups.

Click Here For More Info

MARCH 18TH, 12:30-6:00pm

Barks and Brews

Enjoy a day with your family and friends filled with craft beer tastings, great food, furry friends. Featuring a variety of local vendors, breweries, and some of San Diego's best eats at Waterfront park in downtown San Diego. Dog contests include most talented and best dressed in St. Patrick's theme.

Click Here For More Info

MARCH 30TH, 1:10pm

Padres Opening Day

 Our very own playoff-vetted Padres are ready to hit the field! The Padres 2023 Opening Day is set for Thursday, March 30 at
1:10 PM when the Padres host the Colorado Rockies.

Get Tickets Here

Lifestyle Tips and Tricks

Best Irish Food Recipes for Celebrating 
St. Patricks Day

Honor the patron saint of Ireland with a homemade meal!

Courtesy of Country Living

Ultimate Spring Guide to Stay Healthy this Season

Find out how staying healthy this spring can be as breezy as the refreshing springtime air!

Courtesy of Bistro MD

Click to view past news and more

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.