San Diego Real Estate Update - Poway - December 2024

Three times the number of sellers to buyers in Poway right now. Hang out till the end and I will show you what's going on. Today we are bringing you a Poway 92064 real estate market update. If you're new to this channel, please give us a like and subscribe so you don't miss any of these updates. Let's get right into the numbers for Poway. Looking at what's going on right now, there are currently 99 active listings in Poway and 30 properties pending. And that's where I say three times the amount of sellers to buyers, actually a little more than three times, but close enough. Looking at this 30 pending, we see that last month, 22 properties closed escrow. So it would seem we've seen a slight uptick in the number of pending properties. However, you have 99 sellers on the market right now and obviously only somewhere between 22 and 30 buyers who are willing to put pen to paper and write you offers right now. So that just means that there are a whole bunch of sellers in Poway right now that are not going to sell within the average market time. And we'll get to that in just a second. So let's do that. Let's look at the longer term trends right now, starting with median price all the way back here in January of 2021. The median price in Poway for a single family home was 830, ballooned up to 1.58 million in the spring of 2022, and then has somewhat languished ever since really started to bump back into the 1.5 this year. And then we've seen 1.526, 1.562, 1.560, and most recently 1.655, which is the highest median sale price for a single family home registered in Poway ever. That's not to say that more expensive properties haven't sold in Poway, but the median price has never been that high. It has been pointed out that Poway is very diverse and has lots of different housing types. And of course, that is true. Everything from mobile homes on up to large mansions, horse properties, places with tennis courts, you name it. Poway is diverse and could be carved up into several different videos. Although these videos are designed to be high level overview on a city or zip code level. So that's what we're doing here. If you want to see us drill down into a specific price tier, neighborhood, part of Poway, whatever that may be, drop it in the comments and we'll do our best to do it. If it makes sense to do it as a video for all to see, we'll do that. If it makes sense to do it as a special report just for you, we'll do that too. So looking at some more metrics here, the percent of original list price to final closed sale price. I talk about this in all of our videos and it's largely the same in all of our videos. If you've been watching for any amount of time, you know, spring of 2022 was when things were the hottest with regard to list to sale price ratio. You know that the fall of 2022 was the lowest and you know that most zip codes right now are hovering in the mid to high 90% range. Poway, no exception, 96.6% of original list price to final closed sale price on average. Looking at market time right now, no surprise to see that up in Poway with the ratio of active listings to pending sales, we would expect to see longer market times. And there are a whole bunch of sellers in Poway right now that still aren't going to get sold within that 40 days. That's currently the average and that's 10 days longer than the San Diego County average. So that is what's going on in Poway right now. In a nutshell, want more specific information? We can certainly pull that up and deliver it to you. And if you like this content, remember to like, share, subscribe, and comment. We'll be back later this week with more great real estate information. So stay tuned for that until then have a great day and I will talk to you soon.