In the San Diego suburb of Del Cerro, home values have been rising year over year. As of January 2020, the median home value in Del Cerro is $685,000. Del Cerro home values have gone up over 15% compared to January 2019. With limited inventory available, homes are selling quickly in this highly desirable community. Days on market dropped by 42.3% since 2019. The average days on market for Del Cerro single-family homes in the month of January was 15 DAYS!
Townhomes in the Del Cerro community followed the same trends as the single family homes. Townhomes saw a 2.8% increase in home value, bringing the median sales price to $328,000. Average days on market are averaging just slightly higher than single family homes, at 22 days.
For 2020, The National Association of REALTORS Chief Economist predicts median home price growth is in no danger of falling due to inventory shortages and will rise by 4%. Closed Sales increased in San Diego County by 5.9% (January 2019 to January 2020) while the Median Sales Price rose 9.2% to $670,000.
Del Cerro, centrally located just 20 minutes from Downtown, continues to be one of the most desirable communities in San Diego. With its close proximity to San Diego State University and the 8 freeway, highly rated schools and a wide variety of single-family home and condominium options, Del Cerro has consistently been sought after as a place to call home. Residents of Del Cerro often explore the outdoors in Mission Trails Regional Park (including the well-known Cowles Mountain), Lake Murray and the Del Cerro Pool.
Legacy Realty Network is focused on educating buyers and sellers on their real estate and wealth-building options. Living locally, within the Del Cerro community, the Legacy Realty Network team has first-hand knowledge of the homes, schools, and amenities within Del Cerro. The Legacy Realty Network team is committed to providing our clients with exceptional client care from the initial meeting, throughout the transaction, to the closing and continuing to guide our clients on their path of building wealth through real estate. Call us today if you would like to explore your options in Del Cerro.