San Diego Market Statistics – Market Recap
Updated November 2018
San Diego Market Statistics and local housing indicators are constantly changing. For the latest updates and information, check back with us often. Better yet, feel free to contact us by calling 858-451-9000, or by sending us a message. We are here to help you with all of your real estate needs.
Closed Sales decreased 16.8 percent for Detached homes and 15.3 percent for Attached homes.
Pending Sales decreased 4.7 percent for Detached homes and 6.5 percent for Attached homes.
Inventory increased 28.8 percent for Detached homes and 38.0 percent for Attached homes.
The Median Sales Price was up 6.3 percent to $645,000 for Detached homes and 4.5 percent to $418,000 for Attached homes.
Days on Market increased 9.4 percent for Detached homes and 11.5 percent for Attached homes.
Supply increased 38.1 percent for Detached homes and 43.8 percent for Attached homes.
San Diego Market Statistics
Updated May 2018
Many sellers and builders are in a good position for financial gains, as the
economy continues to favor putting existing homes on the market and
building new homes for sale. We are finally beginning to see some upward
movement in new listings after at least two years of a positive outlook.
There may not be massive increases in inventory from week to week, but a longer-term trend toward more new listings would be a good sign. Low inventory should continue to create a competitive situation for buyers, causing price increases over the next several months.
This winter and spring exhibited unseasonable weather patterns in much of the country. As the seasons change to something more palatable, wages and
consumer spending are both up, on average, which should translate positively
for the housing market. Being quick with an offer is still the rule of the day as
the number of days a home stays on the market drops lower. If that wasn’t
enough for buyers to mull over with each potential offer, being aware of
pending mortgage rate increases is once again in fashion
Closed Sales decreased 7.8 percent for Detached homes and 7.1 percent for
Attached homes. Pending Sales increased 1.6 percent for Detached homes
but decreased 3.0 percent for Attached homes. Inventory decreased 5.4
percent for Detached homes but increased 8.0 percent for Attached homes.
The Median Sales Price was up 8.3 percent to $640,000 for Detached homes
and 10.4 percent to $425,000 for Attached homes. Days on Market decreased
10.3 percent for Detached homes and 4.3 percent for Attached homes.
Supply remained flat for Detached homes but increased 14.3 percent for
The Federal Reserve Raises Rates
The Federal Reserve raised its key short-term interest rate by .25 percent in March, citing concerns about inflation. It’s the sixth rate increase by the Fed since December 2015, with at least two more rate increases are expected this year.
Borrowing money will be more expensive, particularly for home equity loans, credit cards and adjustable rate mortgages, but rising wages and a low national unemployment rate that has been at 4.1 percent for five months in a row would seem to indicate that we are prepared for this. And although mortgage rates have risen to their highest point in four years, they have been quite low for several years.CLICK HERE TO BUY OR SELL A HOME