Danielle Negroni
Licensed Realtor
Coastal Premier Properties

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What’s Happening With the San Diego Real Estate Market?

October 17, 2022 by Danielle Negroni Leave a Comment

It is the number one question my clients ask as the markets fluctuate and interest rates rise. Everyone wants to know if the housing market will further decline and are we heading to a “crash.” Let me share with you a few reasons as to why I believe the San Diego housing market will not “crash,” and in fact, it is an excellent time for Buyers to purchase a home for personal or investment purposes.

1. The Facts – In 2021, the San Diego real estate market appreciated up to 40%. We’ve seen a pricing decline of 10-15% in the last few months. The net result is that most homeowners still have substantial equity in their homes. Because of this equity, we do not see short sales or foreclosures. And Sellers aren’t “desperate.” The decline of the last few months is a market correction to adjust for the 2021 accelerated appreciation.

2. Historically Low Inventory – There is still a housing shortage in San Diego County, and it’s projected to take up to ten years to correct. Yes, more houses are on the market than last year. However, it’s still limited in many desirable communities.

3. Interest Rates – Interest rates are on the rise, but don’t make the mistake of thinking they will drop back to the historically low rates of 2021. Rates of 5%-6% are still fantastic, and they should not deter Buyers from making a purchase. If rates unexpectedly decline, the option to refinance is available.

4. Less Competition – Most homes today are sold without multiple offers. Take advantage of this competitive edge, and be the sole bidder. You most likely will get a discount off the list price, in addition to favorable terms that disappeared in the past year.

5. Safe Place to Hold Cash in Volatile Markets – Buying property is an excellent cash investment due to the stability of the real estate market in San Diego. Our market appreciates year after year and often outperforms other opportunities.

Have more questions about how the San Diego real estate market looks in your neighborhood or zip code? Give me a call!

Filed Under: Home Buyers, San Diego Tagged With: carmel valley san diego, del mar real estate, la jolla real estate, san diego housing market forecast 2023, san diego real estate, san diego real estate agent, san diego real estate market, san diego real estate market 2022, san diego real estate market 2023, san diego realtor, solana beach real estate, What's Happening With the San Diego Real Estate Market?, when will the housing market crash again, will home prices drop in san diego 2023, will the san diego housing market crash

Why Now is a Great Time to Buy a Home in San Diego

April 22, 2019 by Danielle Negroni Leave a Comment

If you’ve been waiting for a sign that now is a great time to buy a home in San Diego, this is it! We are currently experiencing the Real Estate Trifecta of perfect home-buying conditions: increasing inventory, homes spending more days on the market, and low interest rates. But how does this Real Estate Trifecta really affect you as a prospective home buyer? 

Increasing Inventory

If you’re in the market to buy a home, increasing inventory is a very good thing especially if you’re looking to buy in one of San Diego’s most desirable neighborhoods. Unlike years past where too many buyers competed for too few homes, buyers today have a lot more properties to pick from. While some homes still receive multiple offers, overall there is less competition. This is particularly true over the past few weeks with the recent surge of listings.

Longer Days on Market

Across the county, homes are taking 6% longer to sell than they were a year ago. While that increase might not seem like much, homes now spend an average of 35 days on the market – too long for some sellers. In an effort to get their home into escrow, many sellers resort to lowering their asking price. This is good news for you! Not only will you potentially pay less for your home, the sellers may be willing to further negotiate with you to get the property under contract. 

Low Interest Rates

While the Federal Reserve initially planned to raise interest rates over the course of this year, at its March meeting the Fed announced that short-term interest rates will instead remain unchanged for the remainder of 2019. Again, this is good news for you! As of writing, the average 30-year fixed rate is hovering just above 4.0% – still historically low. And the lower the interest rate, the more home you can afford to buy. 

While I can safely say that the Real Estate Trifecta will make this spring and summer an amazing time to buy, it’s anybody’s guess what the future will hold beyond this time. So don’t wait – call me at (858) 735-5767 to get started today!

Filed Under: Home Buyers, San Diego, Uncategorized Tagged With: buy a home in san diego, buying a house in san diego, buying a house in san diego 2019, san diego condo market, san diego housing inventory, san diego housing market, san diego housing market 2019, san diego housing market forecast, san diego housing sales, san diego real estate, san diego real estate market, should i buy a house in san diego 2019

San Diego Real Estate Market Report: Summer 2018

September 24, 2018 by Danielle Negroni Leave a Comment

Earlier this year, I published a blog speculating on whether home prices in San Diego County were about to peak. If you missed the blog, you can check it out here. As we head into fall, there are warning signs that home prices in San Diego have now indeed peaked. Homes are staying on the market for longer, many don’t receive multiple offers, and many sellers are forced to reduce their price in order to get the home under contract.

While prices in many cities have statistically increased in 2018, moving forward, it’s unlikely the steady growth on the graphs below will continue.

So what does that mean for you as a San Diego County homeowner? It means that if you’ve been waiting to sell your home, now may be the time to prepare for a sale. It’s anticipated that our inventory will reflect a Buyer’s market by 2020 and this leaves one more strong selling season before prices reflect such a change. If you want to maximize the sales price of your home, call me at (858) 735-5767 to get started!

 

 

San Diego County

In San Diego County the median sales price for a detached single family home is up 7.1% from August 2017, making the median price now $637,000. The median price for townhomes and condos has also increased by 7% from last year, making the median sales price $417,250.

 

Carmel Valley

Carmel Valley has seen significant increase in the median sales price of homes over the last year as well. The median price for a detached single family home is now $1,315,525. This increase is up 7.8% from August 2017. Townhomes and condos are now selling for an average price of $615,500, an increase of 4.3% in the last 12 months.

 

Del Mar

The median sales price for a home in Del Mar is $2,000,000. This is a 7.5% increase from August 2017! A condo or townhome in Del Mar now sells for an average price of $1,080,000. This is up 4.9% from the previous year.

 

La Jolla

La Jolla has also seen an increase in home prices since this time last year. The price of a detached home has increased by 5.9%, making the median sales price $2,150,000. Townhome and condo prices have also gone up 4.8% since August 2017, bringing the median sales price to $712,750.

 

Solana Beach

Home prices in the city of Solana Beach are up 3.9% from last year, making the median price for a detached single family home now $1,535,000. But townhome and condo prices in Solana Beach have really skyrocketed! The median price for a condo has increased 13.5% since August 2017, making the average sales price $952,500.

 

[All data sourced from Sandicor MLS on September 13th, 2018]

Filed Under: Home Sellers, San Diego Tagged With: average home price in san diego, carmel valley san diego, carmel valley san diego real estate, del mar real estate, la jolla real estate, san diego, san diego home prices, san diego house prices, san diego real estate, san diego real estate market, san diego real estate prices, san diego real estate trends, solana beach real estate

3 Reasons to Sell Your Home in 2018

March 20, 2018 by Danielle Negroni

https://daniellenegronisells.com/wp-content/uploads/2018/03/lumen5-video.mp4

 

“It’s a seller’s market!”

“Now is a great time to sell!”

As a San Diego homeowner, you’ve probably seen this phrase on one piece of real estate marketing mail after another for the last few years. It can be hard to discern if it actually is a great time to list your home or the Realtors who mail in your neighborhood are just saying that to get you to call them.

While it is a seller’s market and a great time to sell, it helps to have context for those statements:

In my last blog post, I took a look at the median sales price of homes in a few different San Diego housing markets. Many local markets are reporting prices we haven’t seen in ten years or more. In some areas, the median price for a detached home has far surpassed its 2006 pre-recession peak. But home values can’t continue to rise indefinitely. I believe we will see a decline in home values in the months to come as interest rates rise and the housing market peaks.

Interest rates have steadily risen nearly every week since the beginning of the year. Bankrate.com shows current interest rates for a 30-year fixed rate mortgage hovering around 4.5%.

As interest rates rise, they limit buyer purchasing power. According to a recent article from Rismedia, “If interest rates rise 1 percent and all other economic factors remain the same, purchasing power for homebuyers will decrease by just over 11 percent; therefore, every quarter-percent (0.25 percent) rise of interest rates reduces homebuyer purchasing power by 3 percent.” This means that someone who might have been able to purchase your home a few months ago might no longer have the buying power to do so, shrinking the pool of potential buyers for your home. The higher the value of your home, the more you will likely feel the effects of that shrinkage. Rising interest rates will help bring down prices at the top end of the market, as homeowners who are serious about selling might find themselves making concessions on price to get their home sold.

Once your home sells, you will likely need to purchase a replacement property. If you wait too long to sell your home, you might find yourself conceding on your sale price AND entering the market with less purchasing power that you would have had just a few months ago.

Finally, if your home is aging, you should keep in mind that you likely have some big-ticket repairs on the horizon. Depending on its composition, your home’s roof will need to be replaced every twenty to thirty-five years. The lifespan of a furnace is about fifteen to twenty years. Most appliances last no more than fifteen years. Waiting to put your home on the market means you could end up footing the bill for these repairs in order to sell the house, taking a hit on price to get your home sold, and then entering the marketplace with a lighter wallet and reduced purchasing power.

There’s one other point you should also keep in mind: the new tax law lowered the mortgage interest deduction from $1.1m to $750,000. In 2018 and going forward, your state, local, and real estate taxes are put into one pool for deductibility purposes. Between the three of them, you only can deduct up to $10,000 total. It’s hard to predict how these tax changes will impact the real estate market, but they do cumulatively place a heavier financial burden on the buyer.

If you’ve been on the fence about selling, it might be time to get off the fence and put a “For Sale” sign in your yard. I’d be happy to meet with you to discuss the specifics of your situation. Give me a call or send me an email to set up an appointment!

Filed Under: Home Sellers, San Diego, Uncategorized Tagged With: carmel valley san diego, del mar, del mar real estate, del mar real estate agent, del mar realtor, la jolla, la jolla real estate, la jolla real estate agent, la jolla realtor, reasons to sell your home in 2018, san diego real estate, san diego real estate agent, san diego real estate market, san diego real estate prices, san diego real estate trends, san diego realtor, sell home, sell your home, selling a house, selling your home, selling your house, solana beach, solana beach real estate, solana beach real estate agent, solana beach realtor

Is the Housing Market About to Peak?

March 10, 2018 by Danielle Negroni

If you’ve been thinking about selling your home and either downsizing or purchasing something else, now is a great time to do it! Market indicators are showing that the San Diego housing market is peaking and we are heading for a downturn or softening. Home values can’t continue to rise indefinitely so if you’ve been waiting for the moment to list your home, this is it!

Just take a look at these numbers:

* Home prices in Carmel Valley have reached a fourteen-year high. The median price for a detached home is now $1,215,000.

* In Del Mar, median home prices go up and down depending on the individual homes that have sold. But prices have been lingering around the pre-recession peak for many months now.

* Home values in Solana Beach are up 6% from last spring.

* In La Jolla, home prices have far surpassed their pre-recession peak and continue to rise month-over-month. In February, the median price for a detached home was $2.2 million dollars.

* And across the county, home prices are up 8.1% from last year at this time. The median home price is now $607,765, the highest it has been in fourteen years!

Curious to know what your home is currently worth? Want to know the best way to capitalize on this seller’s market AND get into a new home? Give me a call, I’d love to set up a time to discuss your unique situation!

[All data sourced from Sandicor MLS on March 10th, 2018]

Filed Under: Home Sellers, San Diego Tagged With: average home price in san diego, carmel valley san diego, del mar real estate, del mar real estate agent, del mar realtor, la jolla real estate, la jolla real estate agent, la jolla realtor, san diego home prices, san diego house prices, san diego real estate, san diego real estate agent, san diego real estate market, san diego real estate prices, san diego real estate trends, san diego realtor, solana beach real estate, solana beach real estate agent, solana beach realtor

San Diego Real Estate Market Report-Q4 2017

January 7, 2018 by Danielle Negroni

Home prices in San Diego County were up 7.1% at the end of the 4th quarter, compared to December of last year. The coastal markets of Carmel Valley, Del Mar, La Jolla, and Solana Beach also registered year over year price increases to finish out 2017 on a high note. Interested in seeing a market report for your city or community? I’d be happy to provide you with one. Thinking of selling your home this year? Let’s talk!

San Diego County:

 

Single Family Homes

Median Sales Price: $605,000

Median Price Per Sq Ft: $335

Market Time (From Listed to Closed): 17 Days

Total Sold Listings (Oct-Dec): 64,827 Properties

Avg Listing Inventory (Active): 3,634 Properties

Year Over Year Change: +7.1%


Condos/Townhomes

Median Sales Price: $398,000

Median Price Per Sq Ft: $396.33

Market Time (From Listed to Closed): 13 Days

Total Sold Listings (Oct-Dec): 11,105 Properties

Avg Listing Inventory (Active): 1,287 Properties

Year Over Year Change: +6.7%

Carmel Valley:

 

Single Family Homes

Median Sales Price: $1,222,266.67

Median Price Per Sq Ft: $430

Market Time (From Listed to Closed): 32 Days

Total Sold Listings (Oct-Dec): 1,207 Properties

Avg Listing Inventory (Active): 61 Properties

Year Over Year Change: +7.9%


Condos/Townhomes

Median Sales Price: $609,828.33

Median Price Per Sq Ft: $489

Market Time (From Listed to Closed): 9 Days

Total Sold Listings (Oct-Dec): 762 Properties

Avg Listing Inventory (Active): 14 Properties

Year Over Year Change: +9.6%

Del Mar:

 

Single Family Homes

Median Sales Price: $1,818,333.33

Median Price Per Sq Ft: $705.67

Market Time (From Listed to Closed): 55 Days

Total Sold Listings (Oct-Dec): 419 Properties

Avg Listing Inventory (Active): 70 Properties

Year Over Year Change: +1.8%


Condos/Townhomes

Median Sales Price: $1,008,694

Median Price Per Sq Ft: $680.67

Market Time (From Listed to Closed): 19 Days

Total Sold Listings (Oct-Dec): 178 Properties

Avg Listing Inventory (Active): 17 Properties

Year Over Year Change: +21.8%

La Jolla:

 

Single Family Homes

Median Sales Price: $2,157,175

Median Price Per Sq Ft: $781.67

Market Time (From Listed to Closed): 67 Days

Total Sold Listings (Oct-Dec): 911 Properties

Avg Listing Inventory (Active): 168 Properties

Year Over Year Change: +13.3%


Condos

Median Sales Price: $809,458.67

Median Price Per Sq Ft: $595.33

Market Time (From Listed to Closed): 18 Days

Total Sold Listings (Oct-Dec): 1,163 Properties

Avg Listing Inventory (Active): 78 Properties

Year Over Year Change: +10.2%

Solana Beach:

 

Single Family Homes

Median Sales Price: $1,532,500

Median Price Per Sq Ft: $670.67

Market Time (From Listed to Closed): 47 Days

Total Sold Listings (Oct-Dec): 280 Properties

Avg Listing Inventory (Active): 18 Properties

Year Over Year Change: +5.3%


Condos

Median Sales Price: $947,865.67

Median Price Per Sq Ft: $665.33

Market Time (From Listed to Closed): 15 Days

Total Sold Listings (Oct-Dec): 333 Properties

Avg Listing Inventory (Active): 18 Properties

Year Over Year Change: +10.4%


[All data sourced from Sandicor MLS on January 4th, 2018]

Filed Under: Home Sellers, San Diego Tagged With: average home price in san diego, carmel valley san diego, del mar, del mar real estate, del mar real estate agent, del mar realtor, home values san diego, la jolla, la jolla real estate, la jolla real estate agent, la jolla realtor, realtor san diego, san diego, san diego home prices, san diego house prices, san diego housing market, san diego real estate, san diego real estate agent, san diego real estate market, san diego real estate prices, san diego real estate trends, san diego realtor, solana beach, solana beach real estate, solana beach real estate agent, solana beach realtor

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My name is Danielle Negroni and I'm a licensed Realtor with over 10 years of experience buying and selling in the San Diego Coastal area.
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DRE #01881800 | Coastal Premier Properties DRE #02109201

  • "Danielle really spent the time educating us about the different neighborhoods in San Diego County so we could make an informed decision about where to purchase a home based upon our family's needs and not just a quick sale. She really worked above and beyond.”

    - Julianne S.

  • “I asked Danielle to help my 73 year old mother find a place to live. She worked tirelessly to find my mom the best solution for her situation. I was so impressed and relieved knowing that Danielle was looking out for her best interest. She is a rare find.”

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