San Diego real estate sales that closed during December 2008 for resale attached condos, studios, 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 – $216,902,268 – YTD – $3,084,237,969
Average Sales Price: December – $256,386 – YTD – $315,136
Median Sales Price: December – $200,000 – YTD – $245,000
Sold Listings: December – 846 – YTD – 9,787
Average Days on Market: December – 69 – YTD – 81
Detached Single Family Homes
Total Sales Volume: December – $700,296,476 – YTD – $9,938,452,751
Average Sales Price: December – $439,333 – YTD – $531,866
Median Sales Price: December – $349,450 – YTD – $400,000
Sold Listings: December – 1,594 – YTD – 18,686
Average Days on Market: December – 74 – YTD – 74
Source: Multiple Listing Service of Sandicor, Inc.
During December median prices were up by almost 2.5% compared to those of the previous month bringing the median price drop for 2008 from the 2007 median price to 30.98% for attached homes and 29.20% for detached homes, while the total number of homes sold during 2008 increased by 9% for attached and 19% for detached compared to the number of homes that sold during 2007.
As a summary for the year 2008 compared to the previous year, we see that during the year we had an increase in the number of homes sold and a big drop in the median home prices.
As a reminder, these 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.
