San Diego homes that sold and closed in December 2009 for resale condos, lofts and townhomes and detached single family homes as reported through the Sandicor and the San Diego Association of Realtors were as follow:
Attached Single Family Homes (Condos – Townhomes)
Total Sales Volume: December – $252,761,358 – YTD – $3,037,384,250
Average Sales Price: December – $268,895 – YTD – $257,996
Median Sales Price: December – $215,000 – YTD – $205,000
Sold Listings: December – 940 – YTD – 11,773
Average Days on Market: December – 73 – YTD – 75
Detached Single Family Homes
Total Sales Volume: December – $923,707,341 – YTD – $10,102,090,224
Average Sales Price: December – $497,687 – YTD – $454,169
Median Sales Price: December – $385,000 – YTD – $355,000
Sold Listings: December – 1,856 – YTD – 22,243
Average Days on Market: December – 69 – YTD – 71
Source: Multiple Listing Service of Sandicor, Inc.
During December median prices for attached homes (condominiums & townhomes) increased by 7.50%, while median prices for detached homes increased by 10.17% compared to those of the previous year. That means that if you bought that same condo in December of 2008 you would have paid $15,000 less while if you had purchased that same detached home, you would have paid $30,000 less. The total number of homes sold during December also increased in double digits in both attached (11.11%) and detached (16.44%) single family homes compared to the number of homes that sold during December 2008.
The above comparable sales also show that real estate prices start to finaly show some stability and this is actualy the first year since 2005 that prices started to increase a bit.
The above numbers represent condos and detached homes that closed escrow during the month of December and have actually been taken of the market during October or November.