San Diego Home Sale Stats for June 2011
San Diego real estate that sold and closed during June 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: June – $253,980,855 – YTD – $1,411,661,977
Average Sales Price: June – $282,515 – YTD – $264,952
Median Sales Price: June – $219,000 – YTD – $209,900
Sold Listings: June – 899 – YTD – 5,328
Average Days on Market: June – 95 – YTD – 96
Detached Single Family Homes
Total Sales Volume: June – $887,400,197 – YTD – $4,974,488,098
Average Sales Price: June – $491,634 – YTD – $493,697
Median Sales Price: June – $377,500 – YTD – $372,500
Sold Listings: June – 1,805 – YTD – 10,076
Average Days on Market: June – 77 – YTD – 84
Source: Multiple Listing Service of Sandicor, Inc.
During June of 2011 total sales of existing condos, townhomes and detached homes posted stayed flat posting a 0.18% decrease in detached homes and posted a 3.13% increase in attached (condos, and townhomes) single family properties compared to total sales of May 2011.
When comparing those figures with those of April of last year, we see again a 9.59% decrease in detached homes and an 8.14% decrease in condos and townhome closings. Median sale prices are still slightly lower from those of June of last year; detached homes at $377,500 and condos and townhomes flat to those of last yeat at $219,000.
As a reminder, the above numbers represent condos and detached homes that closed escrow during the month of June 2011 and have actually been taken of the market during April or May 2011.
San Diego Home Sale Stats for May 2011
San Diego homes that sold and closed during May 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: May – $246,265,751 – YTD – $1,141,529,976
Average Sales Price: May – $271,218 – YTD – $262,360
Median Sales Price: May – $214,500 – YTD – $207,000
Sold Listings: May – 908 – YTD – 4,351
Average Days on Market: May – 86 – YTD – 96
Detached Single Family Homes
Total Sales Volume: May – $888,983,341 – YTD – $4,021,580,962
Average Sales Price: May – $511,204 – YTD – $494,964
Median Sales Price: May – $380,000 – YTD – $370,000
Sold Listings: May – 1,739 – YTD – 8,125
Average Days on Market: May – 79 – YTD – 86
Source: Multiple Listing Service of Sandicor, Inc.
During May of 2011 total sales of existing properties remained flat posting a 0.3% decrase in detached homes and decreased by 4.71% in attached (condos, and townhomes) single family homes compared to sales of the previous month.
However this month, when comparing those figures to those of May of last year, we see a rather large 22.76% decrease in detached homes and also a double digit 11.24% decrease in condos and townhome closings. Although median sale prices this month inched a bit higher they are still slightly lower from those of May of last year; detached homes at $380,000 and condos and townhomes steady at $214,500, both posting almost a $5,000 increase in median prices.
As a reminder, the above numbers represent condos and detached homes that closed escrow during the month of May 2011 and have actually been taken of the market during March or April 2011.
San Diego Home Sale Stats for April 2011
San Diego home listings that sold and closed during April 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: April – $258,433,269 – YTD – $877,564,041
Average Sales Price: April – $272,035 – YTD – $260,328
Median Sales Price: April – $210,000 – YTD – $205,000
Sold Listings: April – 950 – YTD – 3,371
Average Days on Market: April – 98 – YTD – 99
Detached Single Family Homes
Total Sales Volume: April – $891,650,277 – YTD – $3,079,925,251
Average Sales Price: April – $500,084 – YTD – $492,079
Median Sales Price: April – $375,000 – YTD – $370,000
Sold Listings: April – 1,783 – YTD – 6,259
Average Days on Market: April – 83 – YTD – 87
Source: Multiple Listing Service of Sandicor, Inc.
During April of 2011 total sales of existing condos, townhomes and detached homes continued the recent upward trend posting a 2.6% increase in detached homes and a 5.1% increase in attached (condos, and townhomes) single family properties.
When comparing those figures with those of April of last year, we see again a 6.1% increase in detached homes and a small 1.9% increase in condos and townhome closings. Median sale prices are still slightly lower from those of April of last year; detached homes at $375,000 and condos and townhomes steady at $210,000.
The number of active listings did not significantly changed in April, however the number of pending and contingent listings are up again for the third month in a row. Just like last month these pending listings should reflect as sold listings in the month of May.
While median prices continue to do the heavy lifting for relative stability, favorable interest rates, currently in the mid 4%, let us know that home ownership still makes a sound financial sense for a long term investment.
As a reminder, the above numbers represent condos and detached homes that closed escrow during the month of April 2011 and have actually been taken of the market during February or March 2011.
San Diego Home Sales for March 2011
San Diego real estate listings that sold and closed during March 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: March – $251,758,411 – YTD – $605,004,697
Average Sales Price: March – $278,494 – YTD – $256,684
Median Sales Price: March – $210,000 – YTD – $205,000
Sold Listings: March – 904 – YTD – 2,357
Average Days on Market: March – 98 – YTD – 98
Detached Single Family Homes
Total Sales Volume: March – $884,283,257 – YTD – $2,133,073,982
Average Sales Price: March – $508,794 – YTD – $490,700
Median Sales Price: March – $385,000 – YTD – $370,000
Sold Listings: March – 1,738 – YTD – 4,347
Average Days on Market: March – 84 – YTD – 89
Source: Multiple Listing Service of Sandicor, Inc.
Compared to last month, March sold listings saw a significant jump of 36.10% in detached homes and a 36.35% increase in attached (townhome and condominium) homes. We expected that big jump to come in spring and looks like spring came a bit early this year. Compared to March of last year closed sales, sales of detached homes decreased a bit by 0.29% while sales of attached homes also decreased by 5.96%. Looking at the total number of sold listings of the last 12 months, we can see that we are back to April of 2010 levels which was a very busy time as a result of the home tax credit that was available to most home buyers. If the sales continue to increase each month, we can very well surpass last year’s peak.
The March Median price also increased from the February figures. In March median sale prices for detached homes increased by 7.24% and by 3.44% for townhomes and condominiums. However, median prices still remain lower when compared to those of March of 2010 as they reflect a decrease of 3.02% for detached and 6.66% for attached homes. January and February of this year posted the lowest median prices in the last 12 months. However home sales in March saw a jump of about $15,000 for detached and a $7,000 increase for attached homes. Overall, prices still remain fairly steady.
The number of active listings did not significantly changed in March, however the number of pending and contingent listings are up again for the second month in a row. Just like last month these pending listings should reflect as sold listings in the next month.
As normally happens after a big jump in sales, the months of estimated inventory decreased from just over 6 months to about 4.5 months. If sales follow the patterns we expect during the next few months, inventory levels could be to about 3 months by June. Combined with the historically low interest rates, we could also see the highest increase in median price during the past 12 months in the early months of summer.
As a reminder, the above numbers represent condos and detached homes that closed escrow during the month of March 2011 and have actually been taken of the market during January or February 2011.
San Diego Home Sales for February 2011
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.
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