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Market Continues to Soften - Sales of single-family, re-sale homes in San Diego County were down 27.9% year-over-year. That’s nine months in a row home sales have been lower than the year before. There were 1,669 homes sold last month. The average since January 2001 is 1,990.
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The average sales price for single-family, re-sale homes fell 4.3% from July, but it was up 5.2% year-over-year.
The median sales price for single-family, re-sale homes fell 4.9% from July. It was up 5.8% year-over-year. That is the thirty-fifth month in a row the median sales price has been higher than the year before.
Inventory rose 131% year-over-year. As of the 10th of September, there were 8,042 homes for sale, compared to an average of 7,739.
Days of Inventory now stands at one-hundred and forty-five. 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-nine last month. The average since January 2001 is fifty-seven days.
The median sales price for re-sale condos was up 11.1% year-over-year.
The average sales price for condos was up 11.6% year-over-year.
Condo sales were down 31% compared to last August.
Condos are selling in twenty-six days; the average is fifty-five days.
Condo inventory rose 107.4% year-over-year. As of the 10th of September, there were 3,235 condos for sale.
Days of Inventory now stands at 107. 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.