San Diego real estate sales that closed during October 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: October – $263,407,453 – YTD – $2,632,109,051
Average Sales Price: October – $267,691 – YTD – $328,973
Median Sales Price: October – $200,550 – YTD – $259,000
Sold Listings: October – 984 – YTD – 8,001
Average Days on Market: October – 74 – YTD – 83
Detached Single Family Homes
Total Sales Volume: October – $916,377,899 – YTD – $8,506,495,417
Average Sales Price: October – $493,472 – YTD – $552,944
Median Sales Price: October – $365,000 – YTD – $412,000
Sold Listings: October – 1,857 – YTD – 15,384
Average Days on Market: October – 71 – YTD – 75
Source: Multiple Listing Service of Sandicor, Inc.
During October median prices have slightly dropped again compared to those of the previous month bringing the median price drop Year to Date from the 2007 median price to 28.05% for attached homes and 27.97% for detached homes, while the total number of homes sold during October of 2008 were more than double the number of homes that sold during the same month of 2007.
Buyers seem to be taking advantage of the lower home prices by buying the bank owned homes (foreclosures) almost as soon as hit the market.
As a reminder, these numbers represent condos and detached homes that closed escrow during the month of October and have actually been taken of the market during August or September.
