The numbers are in for November and December, up to today’s date, 12/29/16 and La Mesa continued to see price increases as the year closes. Here is a quick update comparing the same time period last year.
91941 Single Family Homes – 11/1/16 – 12/29/16
Homes sold – 49, up slightly from 45 in 2015
Median price - $549,000, up from $500,000 in 2015. 9.1% increase in price
Days on market – 19, down from 28 on 2015
91942 Single Family Homes – 11/1/16 – 12/29/16
Homes sold – 38, up slightly from 35 in 2015
Median price - $527,000, up from $445,000 in 2015. 8.4% increase in price
Days on market – 14, nearly matching 15 days in 2015
91941 Attached Homes – 11/1/16 – 12/29/16
Homes sold – 2, down from 10 in 2015
Median price - As there were only 2 sales in this zip code we can’t derive an accurate median price or marketing time. Last year the median price was $237,500 and the days on market, 33.
91942 Attached Homes – 11/1/16 – 12/29/16
Homes sold – 17, down from 20 in 2015
Median price - $345,000, up from $274,500 in 2015. 7.9% increase in price
Days on market – 16 days for both this year and 2015
So what does this mean for La Mesa homeowners considering selling or those who want to buy? I find it interesting that despite the holidays we still saw an increase in the number of single family homes sold. Heading into the New Year inventory remains tight and homes are selling in less than 20 days so I don’t think we’ll see any drop in price. However, I do predict that appreciation will slow as the year progresses. We might even see a slight drop in overall volume by summer as some would-be buyers and sellers wait to see how the economy fares under the new administration. .
If you’re ready to buy or sell in La Mesa. Please start your search here or give me a call. I’ve lived in this area for most of my life and would be happy to share my knowledge about the many wonderful neighborhoods in La Mesa.
Photo courtesy of AARE. The home pictured is an active listing on Mt. Helix. Please contact me for more information.