The Pacific Beach CA Real Estate Report, March 2012 vs March 2013

March 2013's Pacific Beach San Diego real estate trend is far different from what it was a year ago.

There have been significant changes in listings, prices and time frames that are worth mentioning. The following statistics could possibly influence the actions of PB homebuyers and sellers as we start the 2nd quarter of this year.  

Listed and Closed Properties in Pacific Beach CA

One of the most noticeable changes between March 2012 and March 2013 is the staggering 40.3% drop of homes for sale in PB. There were 216 houses that were listed last year while only 129 were listed on March 2013. Even with a smaller inventory, more homes were sold during this year's March, 48 to be exact, while March 2012 only produced 31 home sales in Pacific Beach CA - hence the 548% increase.  

PB Real Estate Price Trends

Due to the limited supply of houses for sale in PB, sellers gained an upper hand in terms of pricing. Median prices of homes for sale yesteryear was $678,500 however, $850,000 was documented last month. A similar upward trend of more than 50% happened to the median price of properties sold as March 2012's was $415,000 while this year's was $631,000. As for the average prices per square foot, March 2013 came up with $476, a climb of 29.7% from last year's March of $367.  

Read more: Housing Market Trend of Pacific Beach, CA for April 2013′s 2nd Week

Time Range of Pacific Beach San Diego Real Estate

During the past year, it took an average of about 3 1/2 months (107 days) before properties were sold in PB. However, that days on market average reduced to only 72 days on March 2013. Meanwhile, the months supply had the most staggering drop based on this Pacific Beach CA Real Estate Year on Year Report. A 61.4% decrease was seen brought about by the difference between March 2012's 7.0 months supply number and March 2013's 2.7.  

Buying or Selling Houses in Pacific Beach?

Visit our website today to pick the best deals of Pacific Beach, CA Homes for Sale. Don't forget to setup a daily listing alert to receive the newest list of properties that suit your needs straight to your email. You can also know the Value of your PB Real Estate that you are selling. For more assistance and info, send us an email or call (619) 537-9694.