Homes Sales Slowed in November
San Diego home sales for November 2013 show that the total number of sold listings in San Diego County for the month of November 2013, when compared to the previous month (October 2013), is down by double digits across the board. We had a 15.6% decrease in sold listings for single family detached homes and a 19.4% decrease in attached condos and townhomes.
Comparing to the previous year, November of 2013 to November 2012, also single family detached homes had an 11.3% decrease in the total number of sold listings and attached condos and townhomes a 9.6% decrease.
Although home inventory has increase a bit since the previous month, here in San Diego we are still low in the 2.5 month supply, when compared to national averages where homes inventory is in the 6 month supply, which shows you how tight the San Diego real estate market is.
Median Prices Remain Steady
On the other hand we see that median home prices remain steady in San Diego. Comparing this month to the previous month, we had a modest 1.3% decrease in median sales price for single family detached homes and a 4.7% increase for attached condos and townhomes.
If we compare these numbers to the previous year (November 2013 to November 2012), we had a 15% increase in median sales price for single family detached homes and a 19.2% increase in attached condos and townhomes.
The most recent released data by the California Association of Realtors shows that San Diego is top 10 turn around city in the Nation. San Diego is also rated in the top 10 real estate markets in the Country.