Alpine Real Estate Market Update September 20, 2023

by Rachell Lara

Alpine Real Estate Market: Latest Weekly Update provided by Rachell Lara Realtor 619.316.7445

Alpine Real Estate Market Update 9.20.2023

Alpine Real Estate Market Update on the Real Estate Activity of the Last Week spanning from 9.13.23-9.20.23📈

Welcome to our weekly blog post dedicated to keeping you informed about the Alpine real estate market. Whether you're a potential buyer or seller, staying up-to-date with the latest trends and statistics is crucial to making informed decisions. In this week's update, we'll dive into the top market statistics, provide insights that go beyond the numbers, and address common questions that buyers and sellers often have.

Because numbers matter we start with the summary and then take a deeper dive.

Alpine Real Estate Market Statistics for the Last Week 9.13.23-8.20.23📈

⬇️Alpine Median Single Family Home Price $871,500 from $ 875,500

⬆️Alpine Real Estate Inventory

⬇️Average Days On Market: 25

⬇️List to Sales Price 100%

⬆️Interest Rates

The big thing to notice in this week's report is that Alpine is increasing in inventory, whereas San Diego County as a whole is decreasing. Most of this year there have been less than 20 houses at any given time and now we are almost at 30. More choices for buyers and more competition for sellers.

⬇️Alpine Median Home Price -All $855,000

Does that mean you lost several hundred thousand in equity in less than a week? This median number is based on the single-family, condo and townhomes that sold. This number can vary greatly depending on how many condos and townhomes are sold versus single family which are usually substantially higher. Last week no condos were sold and this week 1 sold so it changed it brought this overall median price down.

Interest Rates did go up significantly, but that didn't affect those recent closes since their financing is in place but it might affect those currently active since buyers will have less buying power with rates up almost a quarter percent.

Alpine Real Estate Market Statistics Bottom Line:

Buyers: More choices on the market, 3 under $500,000 and 13 above 1 million and the rest between those prices. With higher interest rates If you get into escrow you will be paying a higher monthly payment unless you adjust your budget.

Sellers: You may not be selling quite as quickly as others have sold in the last couple of years, but as long as you are priced right you will go into escrow within two weeks if you don't quite make it after the first weekend.

Your Alpine Real Estate Guide

How can you make this market work for you whether you are buying or selling or both?

You need a trusted guide by your side. ️With my extensive experience and proven systems, I can help you navigate through the complexities and make informed decisions with confidence.

Contact me to chat or schedule a free no obligation consultation where we can discuss the strategies that will get you to your real estate goals.

Call /Text 619.316.7445 Email Rachell@LaraandCo.com or schedule an appointment now.

Alpine Real Estate Market Key Statistics Definitions & Details

Median Home Price: We start with the median home price, which gives an overall sense of market trends. After all, this is the biggest number for buyers and sellers.

Inventory Levels: The number of homes available for sale impacts competition. Breaking down activity a little further by new actives, under contracts, and sold gives us a better idea of where the market is headed.

Days on Market: The average number of days a home stays on the market can indicate the market's pace. Which can lead to price changes as this number gets bigger or smaller.

List to Sales Price or List to Sales Price Ratio is a crucial metric and is the percentage between the final sale price of a property and its original list price. This ratio is calculated by dividing the actual sale price by the list price and then multiplying by 100 to get a percentage.

Price Changes: When the list price of a property has to be adjusted to improve marketability. Generally, adjustments go down in price, but in a strong escalating market they can go up as well.

Like San Diego's weather, we have MicroClimates in our San Diego County Real Estate Market and even in our little Alpine there is still a big range of prices and neighborhoods. To find out more about your neighborhood or community statistics at my website. If you are ready to take action, thinking about taking action, or thinking about thinking about taking action, let's connect with no obligation, so you have a great understanding of your options and situation. Call /Text 619.316.7445 Email Rachell@LaraandCo.com or schedule an appointment now!