San Diego real estate that sold and closed during November 2010 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: November – $208,980,827 – YTD – $2,815,815,505
Average Sales Price: November – $285,493 – YTD – $269,818
Median Sales Price: November – $215,000 – YTD – $220,000
Sold Listings: November – 732 – YTD – 10,436
Average Days on Market: November – 99 – YTD – 85
Detached Single Family Homes
Total Sales Volume: November – $688,563,655 – YTD – $9,458,138,443
Average Sales Price: November – $504,442 – YTD – $498,873
Median Sales Price: November – $389,900 – YTD – $385,000
Sold Listings: November – 1,365 – YTD – 18,959
Average Days on Market: November – 80 – YTD – 74
Source: Multiple Listing Service of Sandicor, Inc.
Home sales slowed in November which is normal given the holidays and the overall slowing trend we have seen since summer. Year-to-Date sales of properties lost steam as well in November when compared to what we were in 2009. We’ll probably see a little change or another slight deep this coming December and January before we move forward to the peak home buying season.
In contrast to previous month-to-month comparisons, the median sales price in November increased slightly by 0.7% for attached homes (condominiums) and by 1.4% for detached homes since October. The year-to-date median sales price is still maintaining its lead over 2009 and remains at 9.4% higher for detached homes and 7.3% higher for attached condominiums and townhomes than last year.
The number of active listings in MLS decreased slightly since October. September posted the most active listings this year, while the pending and contingent listings have not changed much since September.
The real estate market is not easy to predict. For those who sit and wait, you might miss out on a great opportunity. Low rates, stable median prices and a bundle of inventory are great market indicators right now.
The above numbers represent condos and detached homes that closed escrow during the month of November 2010 and have actually been taken of the market during September or October 2010.