North San Diego County Sales UP Year Over Year for 2015
The HOMEDEX report for North San Diego County was released today showing comparisons for year to date 2015 compared to 2014 and here's where we land. (Click the photo below to go directly to the 14 page report)
Closed sales are up 10% year over year with over 10,134 compared to 9,536 at this time last year.
Average days on market is down year over year going from 46 Days on Market (DOM) to 42 DOM
Median Sales Price is up year over year as well, landing at $597,000 compared to $575,000 this time last year so that's a 3.8% appreciation rate which isn't bad considering we had looming higher interest rates all year.
On average the list price to sales price ratio is 96.4% meaning that listing agents are getting a little more than 96% of list price for their home sales. In the real world, this means if you're listed at $500,000, the average agent will sell that listing for approximately $483,000.
Keep in mind this data is for single family detached homes, not condos or townhouses. That data is also available by clicking the photo above or this link to the 14 page report
What I like about this report, as an agent, is that the appreciation rate is healthy (basically keeping in line with historical inflation rates). I like to see a healthy 3% appreciation annually. That shows no irrational exuberance like in some previous years where we were appreciating 20% or more. I also like to see a higher number of closed sales because that shows demand is still strong. I also look for days on market trends and seeing a slight dip in average days on market is also healthy. I see this trend continuing in 2016 unless interest rates go up dramatically which I don't think will happen. I do predict that we will see rates go up, but only marginally, not 1% or more. This will affect the buying power for financed properties but could also bring more investors to the table.
The key metrics for attached properties is even stronger as a lot of first time buyers find that price point to be more attractive. The combined numbers for attached and detached homes show an increase of 11% in closed units and an appreciation rate of 4% in median sales price. These are very positive numbers for North San Diego County in 2015.
If you'd like us to email you the report, feel free to reach out. You can also give us a call anytime to discuss your strategy as a home seller in the new year. We can discuss seasonal trends and what you can do to get more than 96% of list price for your property.
Chris Whittaker
Solutions Real Estate
Offices in Carlsbad and Encinitas
760-618-1490
Chris@NCSanDiego.com
Search Homes For Sale in the Neighborhood of Your Choosing
CA BRE# 01895376
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