Pending home sales prices in San Diego reflect the city’s competitive real estate market, where high demand and limited inventory drive pricing trends. Tracking pending home sales provides valuable insight into San Diego’s housing demand and the overall pace of the market.
For buyers, many pending home sales suggest a competitive environment where properties are moving quickly. For sellers, pending home sales indicate continued demand and a strong likelihood of closing at or near the agreed price.
This chart highlights the number of homes that went pending in San Diego, CA, over the past week, offering a real-time look at upcoming closings. Pending sales serve as a key indicator of market momentum, showing how many homes are under contract and awaiting final settlement. A pending status means the seller has already accepted an offer, and in most cases, major contingencies—such as inspections and financing—have been cleared.
Unlike homes marked as contingent, where certain conditions still need to be met, pending properties are in the final stages before closing. This signals strong buyer commitment and an advancing transaction, though the sale is not yet officially recorded.
Can You Make an Offer on a Pending Home?
Yes, you can offer on a pending home sale, but whether it gets accepted depends on several factors. When a home is marked as pending, the seller has already accepted an offer, and the deal is in the final stages (such as inspections, financing, or closing). However, the sale is not yet finalized, and there’s still a chance it could fall through.
How to Make an Offer on a Pending Home
Check The Status
By partnering with an experienced buyer broker like myself, I ensure open communication with the listing agent, keeping you informed if the home becomes available again. A pending status doesn’t always guarantee a successful closing. I can also inquire whether the seller is open to backup offers, as some may continue considering offers in case the current deal falls through.
Submit a Backup Offer
In San Diego’s competitive real estate market, submitting a backup offer is a strategic way to stay in the game, even if a home is already pending. A backup offer means that if the current deal falls through, your offer is already in place, allowing you to move into the first position without competing with new buyers. This can save time, eliminate the need for a bidding war, and put you in a strong position to secure the property.
Make a Strong Offer
By offering competitive terms within your backup offer, you can position yourself to be able to secure the property. Competitive terms can come in the form of fewer Contingencies. Contingencies are conditions that must be met for the deal to go through, like financing approval or an inspection. By reducing or removing certain contingencies, you signal to the seller that you’re confident in your ability to proceed with the purchase, making your offer more attractive.
Additionally, offering a quicker closing date is appealing to sellers, especially if they need to sell quickly. If you can adjust your schedule to close sooner than other buyers, it could give you an edge. Lastly, offering a higher earnest money deposit (EMD) shows you’re serious about following through with the purchase. Offering a high EMD reassures the seller that you’re financially stable and committed to the deal. Sometimes, a larger deposit can help your offer stand out, especially in San Diego’s competitive market.
San Diego Real Estate Market Trends
Click the links below to access in-depth San Diego housing market reports and stay informed with the latest data.
