I was shocked today, when I went on the local Multiple Listing Service (MLS) to see that there are only 7 detached homes on the market in this suburb of Rancho Penasquitos, in the city of San Diego. I have not seen such low inventory since maybe the 2006/2007 era, which was just prior to the big crash of 2008. 4 of those listings are above a Million Dollars!
Now the average price of a detached home in Rancho Penasquitos is $748,000 which is even higher than the time period prior to the 2008 crash.
If you are a seller, it is REALLY time to put your home on the market.
This is NOT only happening in the 92129 zip code, but many others too.
I live in this suburb and and know how special it is, how great the schools are and the closeness to the beach and everything else.
Call me if you have any thought of selling.