In February of 2014 we had an increase in the total number of home sales compared to the previous month but due to the lower price point home inventory still in low numbers and the continuing sales price increase, the total number of home sales remain lower than those of the previous year. Tighter inventory and more expensive houses have kept the total number of sales in lower numbers.
Median home prices continue to hold up very well in both month over month and year over year comparisons. This is pretty much indicative of the Western region which has held up better than perhaps other parts of the Country.
Home Sales Increased in February 2014
The total number of sold homes in San Diego County for the month of February 2014 when compared to the previous month (January 2014) increased a bit. We had an 8.4% increase in sold listings for single family detached homes and a 5.6% increase in attached condos and townhomes.
However, compared to the previous year, February of 2014 to February of 2013, the total number of listings sold remained slow. We had an 11.5% decrease in sold listings for single family detached homes and a 5.4% decrease in attached condos and townhomes.
Median Home Prices Steady in February 2014
Median home prices held up nicely with a modest decrease in February 2014. Comparing this month to the previous month we had a 1.1% decrease in median sales price for single family detached homes and a 1.7% decrease in median sales price for attached condos and townhomes.
Comparing February’s numbers to those of a year ago, we had a 14.6% increase in median sales price for single family detached homes and a 20% in median sales price for attached condos and townhomes.
You can always check the up to date real estate market statistics for several San Diego cities at AlexiouRealty.com.
