Sales in the 92040 zip code market fell to 32 homes sold over the past 30 days. In addition, the number of sellers reducing their listing price is still in the midst of a downward trend with 15 price reductions in the same time frame. All indications show that the trend may be coming to an end, meaning more price reductions over the next few weeks. While the number of price reductions trended lower, months of inventory is on a four-week downward trend, this week hitting two months. In spite of the decrease in sales, the lack of inventory signals that the 92040 zip code is still a definite seller's market.
Trying to find a more traditional home in the 92040 zip code? Then check out these listings that were built before most others in the market:
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