Hot property – Little Italy 2-bedroom loft in Doma already has an accepted offer on it, and is in escrow after just six days on the open market. I wrote about this hot property last week in a blog detailing its desirable features and real estate value.

Reduced Inventory Creates Demand – Hot Properties

Since inventory is down, move-in ready homes that are competitively priced sell quickly in today’s market. Sales prices have tick-up 9% in San Diego over last year at this time due to reduced inventory.  The San Diego Association of Realtors provides a monthly video update of area sales statistics, and market projections.

Case in Point

If you are visiting properties and see a home you like, you may want to be prepared with a pre-approval letter so you can move quickly with an offer, especially if you’re looking in the $600,000 and below price range. Remember, if it’s a “hot property” it’s likely to receive multiple offers and not be available for long. Doma unit #112 is a recent case in point.

If you want help searching and finding hot properties, please give me a call (619) 246-8400.