So, what’s the best time to list a home in San Diego?
Apparently, it’s the final two weeks of April, according to a new analysis from residential real estate web hub Zilliow.com.
Local sellers who put their homes on the market in the last half of April 2023 could expect a 3.1% boost to the sales price, or about $29,600.
For the rest of the country, the Zillow analysis found that home sellers are looking to maximize their sale price in the first half of June.
Homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.
According to a Zillow news release detailing the analysis, the best time to list had previously been early May in the years leading up to the pandemic.
The shift to June suggests that higher mortgage rates influence demand on top of the usual seasonality trends that bring buyers to the market in the spring.
The analysis predicted this year’s home-shopping season is poised to follow a similar pattern as that in 2023, with a potential second wave if the Federal Reserve lowers interest rates midyear or later.
Zillow’s research found that the best time to list varies widely from city to city.
In 2023, it was as early as the second half of February in San Francisco, for example, and as late as the first half of July in New York.
Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year.
Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home.
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San Diego biotech startup Rakuten Medical said that it has completed a $119 million financing of its Series E preferred stock, an amount that includes $45 million in new capital and the conversion of $74 million of convertible promissory notes.
The company is seeking to find cell-targeting therapies based on its proprietary Alluminox platform.
However, the therapies have not yet been approved outside of Japan, according to a company news release.
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San Diego real estate company H.G. Fenton says it has landed its 21st consecutive National SatisFacts Resident Satisfaction Award.
In a news release, the company says the award is accompanied by recognition of 16 communities in the county for “delivering outstanding living experiences for residents.”
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The local office of wealth manager UBS has appointed 30-year industry veteran James V. Carideo as its new market director for San Diego.
According to a news announcement, he most recently served as market director in Oregon.
Long-time Port of San Diego operator SSA Marine has put into service the first of six pieces of zero-emissions cargo handling equipment at the Tenth Avenue Marine Terminal.
The featured machine is a 55,000-pound capacity battery electric forklift.
According to a news release, the forklift is one of the largest emissions heavy-duty forklifts operating in the U.S.. It can lift up to 25 metric tons.
SSA Marine says it is one of the world’s leading independent, privately held marine terminal operators, with activities at more than 250 terminal facilities worldwide.
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The Skylar Grand, a 170-unit apartment complex with nearly 6,000 square feet of retail in Portland, Oregon, was recently purchased by an investment fund of the San Diego-based Conam Group,
The 2-year-old property is located in Portland’s Burnside Bridgehead neighborhood, according to a press announcement.
The Conam Group manages more than 60,000 units and more than 500 properties in 11 states.
The company said the Oregon purchase was the first from its fourth investment fund.
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City officials and other dignitaries have dedicated two new affordable apartment complexes in the City Heights neighborhood.
The apartments were financed by the Price Philanthropies Foundation.
The names of the complexes are City Heights Place and City Heights Plaza Del Sol.
The two projects, built for $75 million, feature 135 two- and three-bedroom apartments designed for larger families, according to a news announcement.
The project developer is Wakeland Housing and Development Corp.
The Price Foundation, founded by legendary warehouse retail entrepreneur Sol Price and his wife Helen, says its grant-making activities are focused on the City Heights neighborhood.
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San Diego mobile robot and smart logistics startup Geekplus says it has now deployed more than 75 projects in the U.S. and Canada.
According to a news release, Geekplus has placed its robots at more than 38 sites.
Geekplus said it will celebrate this important sales milestone and unveil its newest product, the industry’s tallest mobile order fulfillment robot, at the Modex supply chain conference this week in Atlanta.
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San Diego electric vehicle charging station startup Xendee Corp. says it is now working with Arizona State University to provide electric power to remote communities on the Pacific Island of Fiji.
Xendee says its role in the partnership involves providing techno-economic and electrical modeling software “to tailor energy systems to each community’s needs and optimize mini-grid designs. “
The project, led by ASU’s Laboratory for Energy and Power Solutions, hopes to secure $40 million in funding to help Fiji find sustainable energy solutions for its remote populations.
The 6-year-old Xendee claims to be “the leading distributed energy system and Electric Vehicle fast-charging design and operation platform.”
According to an Xendee news release in late January, the company released two major new products in 2023, doubled its customer base, and had an excellent customer retention rate of more than 95%.
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San Diego private equity firm HCAP Partners said it has acquired behavioral health service providers Behavioral Medicine Associates, Workers Compensation Psychological Network and Reservoir Health, and then merged tall three into its PAX Health investment.
Tim Bubnack, managing partner at HCAP, expressed excitement about the impact on PAX Health, particularly in extending access to mental health care for Medicaid and workers’ compensation patients.
Bubnack said the HCAP aims to bolster PAX Health’s support for patients and healthcare providers for better mental health care in the Northeastern U.S.
The firm’s website says it has managed more than $670 million in investments from four funds, providing mezzanine debt and equity for underserved, lower-middle market companies in the U.S. with an emphasis on the West.
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Finally, this item of note for struggling La Mesa business owners. The City of La Mesa, along with the East County Economic Development Council and the Small Business Development Center, says it has launched its revamped La Mesa Entrepreneurship Accelerator Program.
The program is funded by federal dollars aimed at enhancing the growth and success of existing brick-and-mortar businesses.
The “LEAP Cohort Three” program will allocate $350,000 in $10,000 grants to 35 La Mesa businesses contingent upon attendance at advising sessions and completion of business training courses.
According to a news announcement, the program features a comprehensive training curriculum alongside individual advising sessions from qualified business advisors and an accountable case management system, allowing business owners to apply grant funding to various operational costs.
LEAP Cohort Three shifts focus from startups to existing brick-and-mortar businesses, offering help in recovering from the recent pandemic.
The city said the online application portal is open from March 11 to April 30, and it is accessible through the ECEDC’s website.
Cohort Three will accept applications on a first come, first serve basis subject to availability of funds.
If you have questions about LEAP, contact Lyn Dedmon, assistant to the city manager, at ldedmon@cityoflamesa.us.
Tom York is a Carlsbad-based independent journalist who specializes in writing about business and the economy. If you have news tips you’d like to share, send them to tom.york@gmail.com.