Prices Continue Rising on Falling Sales
The median price for single-family, re-sale homes in San Diego County rose 0.9% in April from March, and were up 1.7% year-over-year.
These numbers are suspect as the market has split due to the tightening of loan requirements, which has dampened the entry-level and move-up markets. These numbers are higher than reality because the $1,000,000+ market, which is not affected by loan tightening, is a larger percentage of sales than normal.
This can be seen in the average price, which is up 2.9% year-over-year. A higher percentage of $1,000,000+ sales drives the average price up faster than the median price.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood (North Park, Kensington, La Jolla) or for an evaluation of your home's worth, please contact me mark@sdmyhome.com or call 619-957-4969.
| April Sales Statistics from sdmyhome.com | ||||||||
| (Single-family Homes) | ||||||||
| Prices | Unit | Change from last year | ||||||
| Average | Median | Sales | DOM | SP/LP | Average | Median | Sales | |
| County | $754,075 | $585,000 | 1,451 | 71 | 95.5% | 2.9% | 1.7% | -15.0% |
| Central San Diego | $830,412 | $575,000 | 366 | 68 | 95.0% | 1.7% | 3.6% | -18.5% |
| Hillcrest/Mission Hills | $852,577 | $735,000 | 13 | 59 | 97.2% | -29.4% | -30.0% | 0.0% |
| April Sales Statistics from sdmyhome.com | ||||||||
| (Condos/Townhomes) | ||||||||
| Prices | Unit | Change from last year | ||||||
| Average | Median | Sales | DOM | SP/LP | Average | Median | Sales | |
| County | $438,698 | $365,000 | 845 | 68 | 96.1% | -0.2% | -3.9% | -3.6% |
| Central San Diego | $451,546 | $365,000 | 336 | 65 | 95.8% | 2.3% | 0.0% | 3.4% |
| Hillcrest/Mission Hills | $517,706 | $455,000 | 34 | 73 | 96.0% | -8.1% | -10.8% | 17.2% |
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