February 2024 Housing Update – Civita in Mission Valley
In Civita over the past 60 days, inventory and demand have remained fairly consistent. Listings under $1,250,000 are still selling fairly quickly, unlike the higher price points which are taking a little more time. Interest rates have risen slightly over the past week as well, affecting affordability. Anticipation continues to build for potential interest rate adjustments by the Federal Reserve. Personally, I don’t think they will cut rates until mid this year but it could be sooner.
In recent months, Civita has witnessed a consistent pattern of limited resale housing options, with seven homes currently listed for sale. Three of the homes listed for sale are from Civita’s newest community by Toll Brothers – Everly. During this timeframe, six properties have successfully changed ownership, while three others are currently undergoing pending transactions. The sold properties commanded prices ranging from $950,000 to $1,660,000, spending an average of just 41 days on the market. Presently, the remaining four homes for sale are priced between $1,349,999 and $1,749,000, with an average market tenure of 28 days.
Whether you’re considering a relocation within or outside of Civita, our team is readily available to provide expert guidance and support. We’re committed to helping you transform your real estate aspirations into tangible achievements. Feel free to reach out to us for personalized assistance tailored to your needs.
Average Vs. Median Active Market Time
Average List to Sales Price (%)
Number of Sales
*All information is deemed reliable, but not guaranteed. Information obtained through the San Diego MLS on February, 7th 2024.