Danielle Short is a nationally recognized top agent and influential individual in the real estate market. Serving the San Diego North County luxury real estate market, from Rancho Santa Fe to La Jolla, Short’s clientele includes celebrities, entrepreneurs and high-end homebuyers. With over 25 years of experience, Short’s unsurpassed market knowledge set her apart from others in the industry. Haute Residence caught up with the top agent to discuss 2019 market trends and the push for more vertical living in Southern California.
Where do you foresee the residential real estate market heading in 2019?
The forecast for Rancho Santa Fe and North County San Diego is still positive as we head into 2019. In fact, San Diego’s housing market is ranked 5th hottest in the nation. US housing markets might be slightly shifting to a buyer’s market in 2019, it is the natural equilibrium. Yet with the economy so strong, sellers know they can stubbornly holding out for big prices, particularly in San Diego.
How long do you foresee before South and North Cal start seeing a demand for more vertical living?
Downtown San Diego is booming with residential and commercial development which includes a healthy ‘sky homes’ market. No longer is it the once sleepy navy town boasting the best climate in the country. The weather remains beautiful year-round while the city has reinvented itself as a dynamic place to live, work and play. Around 41% of downtown’s population are Millennials and 21% Gen X. San Diego is not a city of concrete canyons. Planned into downtown’s growth are multiple parks, open spaces and pocket parks welcoming residents, workers and visitors.
There’s been an overall dip in prices for high-end homes throughout the country, has it been similar for you in your market?
The market has cooled at the upper end. Although, we are seeing the movement of properties with larger square footage, 8000+ which we haven’t experienced to this degree in several years.
Heading into the new year, there’s been talk about an upcoming dip in the market, can you share with us insight into reasons why this may occur?
With mortgage rates on the rise, prices blowing past their previous peaks and inventory slowly creeping upward while rents are flatlining we may see a minor hiccup in the market for the 1st quarter of 2019. San Diego enjoys a market that is not typical to most US housing markets, our ‘Sunshine Tax’ drives buyers into the county.
What is the most common trend you see amongst your buyers in regards to what properties they are interested in?
Despite being the nation’s eighth biggest metro area, San Diego is really made up of sprawling suburban areas that are all very different, makes house hunt struggle very real. The common trend for buyers is identifying the area that fits their lifestyle needs.
Do you think there is an oversaturated market right now? If so, is there a shift from a seller’s market to a buyers market?
Oversaturation is not an issue in San Diego. We simply don’t have enough inventory. The shift from seller’s market to buyer’s market occurred in early August 2018 due to economic/election concerns and normal time of year slow down.
What is the most beneficial piece of advice you would give to other brokers?
Stay positive and remember we are in a service business. Our job is to provide exceptional service and advice to create long-term relationships with our clients.