.

Santee Real Estate Wrap: Low Supply and Increasing Prices, Time to Sell

Snapshot of the Santee real estate market.

By Nikki Coppa http://www.callnikki.com/
By Nikki Coppa http://www.callnikki.com/

Written By Nikki Coppa

Santee closed out 2013 at a 21% combined sale price gain over 2012. This exceeded both the 20% gain in East County and the 19% gain in San Diego County as a whole. The highest Santee sale reported in 2013 was $879,000.

Historically, inventory levels increase pretty dramatically in January. We have yet to see that swell, in fact, Santee's inventory has decreased as has inventory throughout the county. We also typically see a decrease in the number of units sold in December. We did experience a slight closing decrease in Santee, however, throughout the county the December closings were virtually identical to the number of closings in November. So much for historical trends!

Throughout 2013 there was a severe shortage of condos and townhouse for sale in Santee. It looks like this trend will continue in 2014. 

With only a 1.3 month supply and a 26% increase in sale prices, sellers that made a New Year's resolution to sell this year would be wise to jump in now.

The current inventory mix in Santee is comprised of 4% foreclosures, 7% short sales and 89% equity sales. 

By Nikki Coppa, Realtor® • DRE Lic # 01266573 • (619) 274-1426

Statistics compiled Jan-14 using Sandicor data. Information deemed reliable but not guaranteed.

Also read Foreclosed Homes in Santee: Buy For $90,000 Less Than the Average

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something