San Diego Market Watch - Real Estate Update For May 1, 2025
Eric and Deva Edelman - San Diego Homes
[{'start': '0.160', 'end': '7.280', 'text': 'The number of homes for sale in San Diego County\xa0\ncontinues to climb as pending sales remain flat'}, {'start': '7.280', 'end': '12.880', 'text': "stick around for a couple of minutes and I'll\xa0\nshow you what's going on hello and welcome to"}, {'start': '12.880', 'end': '18.880', 'text': "everybody's favorite San Diego County real estate\xa0\ninformation program and that's a scientifically"}, {'start': '18.880', 'end': '24.480', 'text': "proven fact by the way San Diego Market Watch\xa0\nwelcome if you're new to this channel hit that"}, {'start': '24.480', 'end': '29.680', 'text': "like button and subscribe so you don't miss any of\xa0\nthese updates we're bringing you San Diego market"}, {'start': '29.680', 'end': '35.120', 'text': "watch every single Thursday and neighborhood\xa0\nreal estate updates in between and you don't"}, {'start': '35.120', 'end': '42.000', 'text': "want to miss those so subscribe we're here to help\xa0\nlet's get right into what's happening in San Diego"}, {'start': '42.000', 'end': '49.280', 'text': 'County real estate this week the number of homes\xa0\nfor sale as I said continues to climb topping 5700'}, {'start': '49.280', 'end': '55.760', 'text': "now just a couple of weeks ago I was speculating\xa0\nas to whether we would hit 5,000 we did and it's"}, {'start': '55.760', 'end': '62.240', 'text': "run away and we're nearly at 6,000 now at our\xa0\ncurrent rate we'll be at 6,000 next week or"}, {'start': '62.240', 'end': '68.160', 'text': 'the week after that and that is really going to\xa0\nstart to change things in San Diego real estate'}, {'start': '68.160', 'end': '74.560', 'text': 'assuming that this condition persists because\xa0\npending sales have been flat since they they they'}, {'start': '74.560', 'end': '80.000', 'text': 'were on the rise between February and March it was\xa0\nlooking like things were uh picking up regarding'}, {'start': '80.000', 'end': '85.520', 'text': 'pending sales but then pending sales kind of\xa0\ndipped down and have stayed very much the same'}, {'start': '85.520', 'end': '91.760', 'text': 'while new listings have outpaced pending sales\xa0\nincreasing that inventory and when that gets to a'}, {'start': '91.760', 'end': '97.120', 'text': 'certain point there are just way more homes on the\xa0\nmarket than there are buyers in the marketplace'}, {'start': '97.120', 'end': '105.600', 'text': 'and that is definitely going to have an impact on\xa0\npricing what can change the direction you ask well'}, {'start': '105.600', 'end': '112.560', 'text': 'if interest rates were to continue trending down\xa0\nwe would have more buyers in the marketplace and'}, {'start': '112.560', 'end': '119.440', 'text': "swallow up that excess inventory and that's sort\xa0\nof what's happened the last three years however"}, {'start': '119.440', 'end': '127.120', 'text': "we don't know if sellers are going to dodge that\xa0\nbullet or not this year because in 2022 and 23"}, {'start': '127.120', 'end': '133.040', 'text': 'and 24 by the fall there were more homes on the\xa0\nmarket than there were buyers in the marketplace'}, {'start': '133.040', 'end': '140.400', 'text': "prices softened they didn't collapse they softened\xa0\nso uh don't mistake what I'm saying here as um"}, {'start': '140.400', 'end': '148.160', 'text': 'predicting some calamity however unless interest\xa0\nrates come down significantly like into the fives'}, {'start': '148.160', 'end': '156.000', 'text': 'we are not going to see enough new buyers able\xa0\nto qualify in the San Diego marketplace to gobble'}, {'start': '156.000', 'end': '161.600', 'text': "up the excess inventory so you're going to see\xa0\nhomes sitting longer you're going to see price"}, {'start': '161.600', 'end': '166.160', 'text': "reductions you're going to see more canceled\xa0\nexpired withdrawn listings and that is going"}, {'start': '166.160', 'end': '171.040', 'text': "to create a situation that softens prices if\xa0\nit persists long enough it'll do more than"}, {'start': '171.040', 'end': '177.760', 'text': "soften prices so pay attention to this if you're\xa0\na seller in San Diego County if you want to sell"}, {'start': '177.760', 'end': '183.360', 'text': 'a home right now you got to get it priced right\xa0\nyou got to get it prepped for sale for maximum'}, {'start': '183.360', 'end': '191.520', 'text': "uh dollar return and get it sold don't linger on\xa0\nthis market so that's what's happening right now"}, {'start': '191.520', 'end': '197.680', 'text': "in San Diego real estate at least over the last\xa0\nseven days and uh you know I've talked about some"}, {'start': '197.680', 'end': '203.600', 'text': 'trends here but in general this program does\xa0\nfocus on the short term so anyway if you like'}, {'start': '203.600', 'end': '208.880', 'text': "this content remember to like share subscribe and\xa0\ncomment we'll be back next week with San Diego"}, {'start': '208.880', 'end': '215.520', 'text': 'Market Watch more neighborhood real estate updates\xa0\nand tomorrow evening our Friday live where we do'}, {'start': '215.520', 'end': '221.360', 'text': "a little bit of real estate talking and then just\xa0\nget into what's happening in San Diego County over"}, {'start': '221.360', 'end': '227.360', 'text': "the weekend and all sorts of other stuff so don't\xa0\nmiss that um hit that notification bell so you"}, {'start': '227.360', 'end': '233.200', 'text': 'get notified when we go live and you can jump in\xa0\nthe chat and yell at us or talk to us or whatever'}, {'start': '233.200', 'end': '252.560', 'text': "you'd like to do in any event that's what's\xa0\ngoing on right now see you later have a great day"}, {'start': '252.560', 'end': '253.037', 'text': '[Music]'}]