The numbers are in for April and La Mesa continues to see price increases. Here is a quick update. Year –To-Date numbers are through April 30, 2017.
91941 Single Family Homes – 2017 YTD over 2016 YTD
Homes sold – 67, down from 105 in 2016
Average days on market – 32, down from 33 in 2016
Average price - $631,596, up from $596,731 in 2016. 5.84% increase in price
91941 Attached Homes – 2017 YTD over 2016 YTD
Homes sold – 6, no change from 6 sold in 2016
Average days on market – 27, up from 8 in 2016
Average price - $302,750, up from $211,000 in 2016. 43.48% increase in price
91942 Single Family Homes – 2017 YTD over 2016 YTD
Homes sold – 79, up from 78 in 2016
Average days on market – 24, up from 23 in 2016
Average price - $529,657, up from $485,927 in 2016. 8.90% increase in price
91942 Attached Homes – 2016 YTD over 2015 YTD
Homes sold – 33, down from 48 in 2016
Average days on market – 18, down from 35 in 2016
Average price - $331,636, up from $272,306 in 2016. 21.78% increase in price
The house pictured above, in the foreground, is not your average La Mesa home! It sold in April for $1,225,000. It is located on Mt. Helix in 91941 and sold in 10 days. Although that is inarguably a lot of money, this same house in central or coastal San Diego would easily be $250,000 - $750,000 more! Just one reason I think La Mesa is such a great place to buy!
The numbers for attached home sales in 91941 are always a bit curious, simply because there are so few condos or town homes in that zip code. Thus the low number of total sales makes it difficult to draw any solid conclusions. However, there are numerous attached homes in 91942 and seeing a nearly 22% price increase is noteworthy. Only 33 condos/town homes sold thus far in 2017 versus 48 in the same period last year. That represents a 31.25% drop in the total number of sales, signaling reduced inventory which likely helped squeeze prices upwards. I also believe that the attached home market has become more competitive as some buyers are shifting their focus away from single family homes as prices continue to rise.
So what does this mean if you are looking to buy or sell in La Mesa? Buyers, bring your ‘A” game. Be pre-approved and ready to look at new properties the day they hit the market. Sellers, this is a fabulous time to sell, as inventory is tight and prices still on the rise. The last 5 homes I’ve listed have all sold in less than 7 days! Just give me a call for a no-obligation valuation of your home.
If you’re ready to buy in La Mesa, or anywhere in San Diego County, 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 our many wonderful neighborhoods.
Photo courtesy of Pacific Sotheby’s
