More evidence of stable market in October, according to Greater San Diego Association of REALTORS® Although resale home sales continue to be down from a year ago
by Kim Swartz in Blog.
SAN DIEGO (November 7, 2014) – The San Diego County housing market continues to stabilize, according
to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR).
The median price of single-family resale homes dipped slightly in October to just under $500,000. Sale
prices of condos and townhomes held steady at $337,500. Single-family home prices are about 4.5 percent
higher than a year ago, while prices of condos/townhomes are up 14 percent. Taken together, all resale
home prices are up about 8 percent from October 2013.
While month-over-month sales of previously owned single-family homes increased 2 percent in October,
sales of condo/townhouses decreased by more than 3 percent. Combined, sales are down about 9 percent
from a year ago.
The number of active listings on the Multiple Listing Service (MLS) in San Diego County is just under 8,000,
representing three months of housing stock. (Six months is considered a healthy inventory level.) On
average, homes on the market are being snapped up within about 45 days of being listed.
“These new numbers are encouraging because they tell us the San Diego housing market has become
more balanced,” said Leslie Kilpatrick, 2014 SDAR Board President. “Homes aren’t staying on the market
long, so homeowners who are thinking of selling are in a good position. While inventory has grown, the
most sought after properties sell quickly, so buyers need to be prepared to act. This not the time to sit on
the sidelines if a move is in your future.”
In the month of September, the zip codes in San Diego County with the most single-family sales were:
• 92057 (Oceanside) with 50
• 92028 (Fallbrook) with 49
• 92128 (Rancho Bernardo) with 45
• 92127 (Rancho Bernardo) with 44
• 92009 (Carlsbad) with 43
The most expensive listing sold last month in the county: a 6-bedroom, 9-bath, 12,585-square-foot home in
Rancho Santa Fe that sold for $6 million.