San Diego real estate listings that sold and closed during February 2011 for resale condos, townhomes and detached single family homes as reported through Sandicor and the San Diego Association of Realtors were as follow:
Attached Single Family Homes (Condos – Townhomes)
Total Sales Volume: February – $166,793,403 – YTD – $343,290,960
Average Sales Price: February – $251,574 – YTD – $244,509
Median Sales Price: February – $203,000 – YTD – $200,000
Sold Listings: February – 663 – YTD – 1,404
Average Days on Market: February – 98 – YTD – 99
Detached Single Family Homes
Total Sales Volume: February – $616,361,775 – YTD – $1,196,765,268
Average Sales Price: February – $482,664 – YTD – $474,530
Median Sales Price: February – $359,000 – YTD – $360,000
Sold Listings: February – 1,277 – YTD – 2,522
Average Days on Market: February – 91 – YTD – 91
Source: Multiple Listing Service of Sandicor, Inc.
Comparing February to January of this year, we can see that there was a 7.85% increase in the number of detached single family homes sold and a 5.15% decrease in the number of detached (condos and townhomes) sold. Compared to those of February of 2010, we see a tiny increase of 0.23% in the number of detached listings sold and a 6.35% decrease in the number of condo and townhome listings sold.
When comparing February to January of this year, there was a slight 2.64% decrease in median sales price for detached homes and a slight 1.5% increase in median sales price for condos and townhomes. Compared to those of February of 2010, we see a 2.97% decrease for detached homes and a 5.58% decrease in median sales price for condos and townhomes. Median sales price for detaches homes begun to show a decrease in December of last year. However if the number of sold listings continues to increase, which we expect they will during the spring and summer months, we should see median prices rise in line with that demand.
For first time since December of 2010 we see an increase in the number of active listings. There was also an increase in the number of pending sales that we’ll see them reflected as sold listings in the next month or two.
Recent data from Foreclosure Radar shows that the Notice of Default filings in San Diego County have decreased by 11.22% from the previous month and 35.73% from a year ago and the Notice of Trustee Sale filings have also decreased by 11.35 from the previous month and 20% from February 2010. We all know that foreclosures aren’t completely behind us but this information seems to tell us that perhaps they are near the end.
The above numbers represent condos and detached homes that closed escrow during the month of February 2011 and have actually been taken of the market during December 2010 or January 2011.