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Prices Set New Highs, Again
The average sales price for single-family, re-sale homes set a new high for the third month in a row of $877,711 in March. A gain of 15.5% year-over-year.The median sales price for single-family, re-sale homes also set a new high last month of $670,000. A gain of 9.3% year-over-year. That is the sixth month in a row the median sales price has been higher than the year before.
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Home sales were down 6.4% year-over-year.
Inventory, after being higher than the year before fourteen months in a row, fell 2.9% year-over-year. As of the 10th of April, there were 2,443 homes for sale.
Days of Inventory now stands at forty-two.
Days on Market, or how long it took from when a home was listed for sale to when it went into escrow, was thirty-two last month. The average since January 2001 is fifty-seven days.
The sales price to list price ratio was 99.5%. The National Association of REALTORS® considers a ratio of 95% to indicate a balanced market.
The median sales price for re-sale condos also set a new high last month of $454,000. It was up 8.1% year-over-year.
The average sales price for condos also set a new high. It was up 7% from last March.
The sales price to list price ratio for condos was 99.6% last month.
Condo sales were up 1.1% over last March.
Condos are selling in twenty-six days, the average is fifty-five days.
Inventory was up for the fifteenth month in a row. It rose 11.6% year-over-year. As of the10th of April, there were 1,275 condos for sale.
Days of Inventory now stands at forty-two. The average is 123.
If you would like to know what’s going on in your neighborhood, visit my on-line report and click on Recent Sales & Listings. That will tell you what is for sale and what has sold.
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Call George Lorimer and Start Packing 619-846-1244
The above video gives a 2-minute analysis of the above stats
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San Diego Market Statistics
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