Here are the California median home prices by county as of November 2013. I post a detailed breakdown of San Diego County home prices monthly, but thought you might want to see the big picture and how we compare to other counties in California.
The December 2013 housing statistics show prices continuing to increase with a 17 month trend of year-over price gains for North County detached homes and a 21 month trend for non-North County homes.
As is typical around the holidays, activity slowed down with listings of North County detached homes decreasing by 13 percent and sales dropping by 3 percent compared to November. Hopefully the new year will bring enough of an increase in inventory to maintain a healthy market. To read the full housing statistics reports, please click on the links below the snapshot.
Continue reading Housing Statistics Report for San Diego County and North San Diego County January 2014
The two most frequently quoted constants in life are death and taxes. Two more things would-be homeowners can expect in the near future are increases in mortgage rates and housing prices.
Interest rates have been kept artificially low for several years by the Federal Reserve in an effort to strengthen the economy. Policy is shifting to allow them to seek their own natural level and that will surely result in higher mortgage rates. Rates on 30 year fixed mortgages are up over 1% from January, 2013.
In November we continued to see a slow down in appreciation coupled with a tightening of inventory. This resulted in a decrease in prices compared to October, but still gave us increases in year-over pricing for single family detached homes in the North County area at 11 percent and outside of North County at almost 15 percent.
Prices of attached homes fared even better in North County with a 10 percent increase over the previous month and 30 percent compared to November 2012.
The energy-efficient home upgrades tax credit is scheduled to expire on December 31st this year. If you need to make improvements to your home, this could be an incentive to do it before the end of the year. If you have already made qualifying improvements without realizing the tax credit is available, it may seem like a holiday gift you weren’t expecting.
Interest rates increased about ¼ percent in the last two weeks, Mortgage Market in Review. Is this trend going to continue? There’s no clear answer just yet. The Bureau of Labor Statistics reported a drop in the unemployment rate in November to 7 percent, the lowest it’s been in five years.
Continue reading Interest Rates – Are They on the Way Up?
As often happens at this time of year, we’re seeing a tightening of inventory but also a slowing down in appreciation. If you are looking to buy a home right now, you won’t have as many choices, but there isn’t quite as much pressure on home prices. In spite of this, we are still seeing year-over median price increases for single family detached homes at 19 percent in San Diego County. Click on the links below the snapshot to read the full housing statistics reports.
While the market is not as frenzied as it was earlier this year, the housing statistics report is still showing significant year-over price increases in both San Diego County as a whole and North County communities. Prices of single-family detached homes increased 18.75 percent in North County and 21 percent in the county as a whole from September 2012 to September 2013. In the same period, single-family attached home prices increased 30 percent in North County and 29 percent in all of San Diego County. Click on the links below the snapshot to read the full reports.
• The median price for all North County home sales – attached and detached – increased to $499,950 in September 2013 compared to $495,000 in August 2013.
• Detached homes in North County declined 0.87 percent in September 2013 to $570,000 compared to $575,000 in August 2013.
• Year-over median SFD price in North San Diego County jumped 18.75 percent, compared to $480,000 in September 2012 – making 14 months of year-over median price increases.
• The countywide median SFD price increased 3.32 percent in September 2013 to $449,450 compared to $435,000 reported in August 2013.
• Year-over non-North County median price jumped 23.14 percent compared to $365,000 in September 2012, the 18th straight month of year-over median price increases.
• The number of North San Diego SFD listings (active and contingent) increased just 0.18 percent in September 2013 compared to August 2013.
• The number of sold North San Diego County SFD units fell 21.25 percent in September 2013 compared to August 2013. Year-over sold SFD units decreased 5.9 percent compared to September 2012.
• Median days-on-market for single-family detached homes sold in North County increased to 25 days in September 2013 compared to 21 days in August 2013.
• The HomeDex affordability percentage for all homes in North San Diego County was 30 percent in September 2013.
Information taken from HomeDex™ Copyright © 2012 by the North San Diego County Association of Realtors (NSDCAR). Used by permission.