INDUSTRY ANNOUNCEMENTS

SELLING ABOVE ASKING PRICE, OR MORE

The Pacific Southwest Association of Realtors (PSAR) said home sellers are typically earning their full asking price, if not more. The National Association of Realtors’ annual Profile of Home Buyers and Sellers, released at the NAR convention recently held in San Diego, said home sellers across the nation have been selling for a median of $85,000 more than the purchase price this year, a jump from last year’s $66,000. Jason Lopez, 2021 PSAR board member and 2022 PSAR incoming president-elect, said, “Demand will exceed supply, the housing market will remain competitive and sellers will receive 100 percent of their asking price as long as mortgage rates remain low and insufficient housing is built.” In California, about 60 percent of homes are sold above asking price, statistics show.

9 DAYS TO SELL IN NOVEMBER

The Pacific Southwest Association of Realtors (PSAR) reports the median number of days it took to sell an existing, single-family home in San Diego County in November 2021was nine days, which was unchanged from October and September 2021. A year ago, in both November 2020 and October 2020, the number was seven days. The nine-day figure compares to seven days in July 2021, six days in June 2021 and seven days in May 2021. Statewide, the median number of days it took to sell a California single-family home in November 2021 remained at 11 days, the same number in October 2021. The median represents a time when half the homes sell above it and half below it.

ATTEND THE NEXT SDAR WEBINAR ON FLASHCMA

Flashcma is an online mobile-friendly software that enables the creation of interactive CMA (comparative market analysis) reports. Today’s real estate agents understand that more earnings come through utilizing technology, and with Flashcma they can enhance both their listing and sales portfolio earnings. Join 30-year California broker and national sales coach Patrick Alexander on Wednesday, December 29, at 12:00 p.m., for a one-hour introduction to utilizing the power of the Flashcma software. The class is hosted by the Greater San Diego Association of Realtors (SDAR). Register at https://register.gotowebinar.com/ rt/7920656778538961166 or call (858) 715-8000.

PSAR IMPROVES PARAGON FEATURES

The Pacific Southwest Association of Realtors (PSAR) recently debuted improvements to the Paragon software platform that realtors use through the California Regional Multiple Listing Service. The improvements include new Automated Valuation Models (AVMS), which provides analysis for proper pricing, and changes to Potential Buyers and Collaboration Center, tools that save information on home shoppers and fellow realtors who have searched specific properties, as well as a user interface cosmetic update to improve functionality. Unnecessary white space has been removed to make Paragon look different and better, PSAR said. Other improvements include changes to the Paragon mobile version that will amplify on-the-go MLS capabilities and provide more menu bar edit options to update contacts, listings and search parameters that will improve communication. For information, visit www.psar.org.

SURVEY: A GOOD TIME TO SELL

The Pacific Southwest Association of Realtors (PSAR) reports a housing sentiment survey of 1,000 Californians conducted in November 2021 revealed that 71 percent of California consumers believe it’s a good time to sell a home, up 5 percentage points from October 2021 and up 12 points from November 2020. The survey from the California Association of Realtors, released Dec. 1, also said 18 percent of respondents said in November it was a good time to buy a home, which was up 3 percentage points from October. When asked if economic conditions will improve in the state over the next 12 months, 38 percent of respondents said “yes” while 62 percent said “no.” Overall housing sentiment was 70 percent in November, up 5 points from October.