San Diego County Sales Strong in February
Sales of single-family, re-sale homes were up 38.4% year-over-year. This is the tenth month in a row home sales have been higher than the year before. Year-to-date, home sales are higher than any year since 2005.Sales continue to be concentrated in the lower-priced cities where the bulk of the bank-owned property is: Chula Vista up 73.2%, Escondido up 89.1%, Oceanside up 42.5%, and Encanto up 189.5%, just to name the cities with the largest number of sales.
Inventory was down 9.9% in February, while the number of properties pending rose 19.1% from January and was up 186% year-over-year.
The median price was flat at $325,000, but was off 24.4% compared to last February. The average price fell 8.3% month-over-month, and was off 33% year-over-year.
Condo sales were down 3% month-over-month, but gained 37.8% compared to last February.
The median price for condos fell 1.6% from January, and was off 36.8% year-over-year.The sales price to list price ratio increased 2.4 points to 98%. The sales price to list price ratio for condos rose 0.9 of a point to 96.9%.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
posted by Dennis Kaiser at
11:34 AM
1 Comments:
The decline in inventory is a little surprising, but all-in-all it is consistent with the market as it is elsewhere. It is difficult to evaluate worth because of the uncertainty factors in the markets: will everyone qualify for loans or are you limiting your buyer base because of fund and job availability.
The sales to list price show some stability in the market and that shows that the pricing is realistic for the climate.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home