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.
