A quick look at CoreLogic DataQuick’s statistics for August show the pace of the San Diego market increasing with the countywide median home price up 8.1 percent compared to August 2013 and slightly higher than it was in July 2014.
A closer look at those numbers gives a slightly different picture though. The HomeDex housing statistics reports indicate price increases are not across the board and appreciation is continuing to move toward a more sustainable rate. North County median prices have decreased slightly compared to July, and the year-over appreciation rate for North County detached homes is approximately three and one-half percent verses July’s year-over rate of almost seven percent. This slow down in the appreciation rate will hopefully allow wages to keep up with home prices.
Countywide the numbers are slightly higher with a year-over increase in the median price of single family detached homes at 5.15 percent. Inventory in both North County and in San Diego County as a whole remained unchanged in August.
To read the full housing statistics reports, click on the links below.
North County Summary
• The median price for all North County home sales attached and detached decreased to $518,500 in August 2014 compared to $525,000 in July 2014.
• Median price for detached homes in North County decreased 1.24 percent to $595,000 in August 2014 compared to $602,500 in July 2014.
• Year-over median SFD price in North San Diego County increased 3.48 percent, compared to $575,000 in August 2013, continuing 25 straight months of year-over median price increases.
• The number of sold units in North San Diego County for August 2014 was 827 units, a decrease of 0.96 percent compared to July 2014.
• Median days on market for North San Diego County SFD homes sold increased to 25 days in August 2014 compared to 22 days in July 2014.
• The HomeDex affordability percentage for all homes in North San Diego County remained at 31 percent in August 2014.
Full County Summary
• The median price for a single-family detached (SFD) home in San Diego County was $510,000 in August 2014, a decrease of 1.92 percent compared to $520,000 in July 2014.
• Year-over median SFD home price increased 5.15 percent compared to $485,000 reported in August 2013.
• The number of sold SFD units throughout San Diego County in August 2014 was 1,802, a decrease of 2.17 percent compared to July 2014.
• Median days on market in July for SFD homes for San Diego Metro was 18 days, 23 days for South County, and 24 days for East County.
• The HomeDex affordability percentage in August 2014 for a SFD home in San Diego Metro was 29 percent, South County was at 40 percent, and East County was at 42 percent.
AUGUST 2014 FULL COUNTY HomeDex Report
AUGUST 2014 NORTH COUNTY HomeDex Report
Information taken from HomeDex™ Copyright © 2012 by the North San Diego County Association of Realtors (NSDCAR). Used by permission.