Local Market Trends for San Diego County
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Sales Prices Set New Highs, Again
The average sales price for single-family, re-sale homes set a new high last month for the sixth month in a row. It rose 32.6% year-over-year.After setting new highs six months in a row, the median sales price for single-family, re-sale homes took a breather in June. It gained 27.6% year-over-year. That is the twenty-first month in a row the median sales price has been higher than the year before.
Free Home Value
Sales of single-family, re-sale homes in San Diego County were up 26.1% year-over-year. There were 2,630 homes sold last month. The average since January 2001 is 1,990.Inventory rose 30.8% year-over-year. As of the 26th of July, there were only 2,864 homes for sale, compared to an average of 7,739.
Search Homes
Days of Inventory now stands at thirty-two. The average is 131.Days on Market, or how long it took from when a home was listed for sale to when it went into escrow, was twenty last month. The average since January 2001 is fifty-seven days.
The sales price to list price ratio stayed over 100%: it was 103.7%. The National Association of REALTORS® considers a ratio of 95% to indicate a balanced market.
| Trends at a Glance | |||
| (Single-family Homes) | |||
| Jun 21 | May 21 | Jun 20 | |
| Median Price: | $855,000 | $860,000 | $670,000 |
| Average Price: | $1,131,930 | $1,131,320 | $853,407 |
| Home Sales: | 2,630 | 1,043 | 2,085 |
| Pending Sales: | 3,080 | 3,402 | 2,713 |
| Active Listings: | 2,864 | 2,179 | 2,190 |
| (Condos/Town Homes) | |||
| Median Price: | $555,000 | $550,000 | $453,000 |
| Average Price: | $655,162 | $643,937 | $523,620 |
| Condo Sales: | 1,316 | 549 | 1,022 |
| Pending Sales: | 1,595 | 1,629 | 1,290 |
| Active Listings: | 1,452 | 1,177 | 977 |
The median sales price for re-sale condos also set a new high in May, for the fifth month in a row. It was up 22.5% year-over-year.
The average sales price for condos also set a new high, for the fourth month in a row. It was up 25.1% from last June.
The sales price to list price ratio for condos also stayed over 100%: it was 102.8%.
Condo sales were up 28.8% compared to last June.
Condos are selling in twenty days, the average is fifty-five days.
Condo inventory rose 48.6% year-over-year. As of the 26th of July, there were 1,452 condos for sale.
Days of Inventory now stands at thirty-two. The average is 123.
If you would like to know what’s going on in your neighborhood, visit my online report and click on Recent Sales & Listings. That will tell you what is for sale and what has sold.
For the online report, go here:
https://lorimer.rereport.com
To read/print the complete monthly report, go here:
https://rereport.com/sdc/print/SDCCSDGeorgeLorimer.pdf
For the complete annual report, which includes charts and graphs for each city in the county, click on the following link:
https://rereport.com/sdc/print/SDCCSDGeorgeLorimerAnnual.pdf
You may need to cut and paste the links into your browser.
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