Market Report and San Diego Real Estate Market Update June 2014

Real Estate Agent with Keller Williams Realty BRE# 01487596

This article covers the San Diego Real Estate Market Report and Update for the month of June 2014. Market Report for the San Diego county real estate region.

June 2014 – Market Report and San Diego Real Estate Market Update.

Some have noted a slight pause in the housing recovery this year. The American Dream of homeownership is alive and well, but it must still contend with market fluctuations. Buyers need homes for sale if they’re expected to buy said homes. They also need reliable financing, better jobs and stronger wage growth.

The opportunities are out there. Now we need people to take advantage of them. We expect the San Diego to be constrained by low inventory levels but it appears we are trending to a more stable market.

As May 2014 closes, the available homes for sale listed as “Active” has increased to 2.9 months. Many zip codes in San Diego have increased their inventories to more robust levels and buyers are being able to find a more diverse selection of available housing.

The following chart is a summary of the overall San Diego Real Estate Market Report and Update for May 2014*:

San Diego Market Update June 2014

New Listings increased 2.0 percent to 4,753. Pending Sales were down 9.1 percent to 3,241. Inventory levels shrank 3.2 percent to 8,359 units.

Prices forged onward. The Median Sales Price increased 8.4 percent to $450,000. Days on Market was down 28.6 percent to 35 days. Absorption rates slowed as months’ Supply of Inventory was up 3.6 percent to 2.9 months. We’ve had a mixed bag of economic news lately. As expected, national GDP contracted slightly during Q1-2014, which most economists attribute to impermanent factors like the harsh winter.

We’ve now had more than four straight years of monthly private sector job growth. It hasn’t been extraordinary growth, but it sure beats mass layoffs.

For the rest of the San Diego Market Update visit June 2014 San Diego Real Estate Market Update 

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Kouren Jouldjian, CDPE
REALTOR® / Broker Associate
CalBRE License 01487596
San Diego Homes For Sale and Real Estate Information

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