Category Archives: Market Statistics

Homeownership, Housing Appreciation, Housing Market, Market Statistics

Housing Statistics Reports for San Diego County and North San Diego County June 2014

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HomeDex logo housing statisticsMay housing statistics seem to indicate we are continuing to move toward a more balanced market.

Even though we are seeing signs of stabilization with price increases slowing down, more homes coming on the market, and fewer homes selling compared to last year, we are also experiencing a market in which homes are selling very quickly. The active market time for listings in San Diego County is the shortest it has been in the last 10 years! The median number of days on market for single-family detached homes sold in North County decreased to 19 in May 2014. Homes are getting snatched up quickly.

To read the full housing statistics reports, please click on the links below.

FULL COUNTY REPORT     NORTH COUNTY REPORT

Continue reading Housing Statistics Reports for San Diego County and North San Diego County June 2014 →

Home Buyers, Home Sellers, Homeownership, Housing Appreciation, Housing Market, Market Statistics

Housing Statistics Reports for San Diego County and North San Diego County April 2014

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HomeDex logo housing statistics
March housing statistics were a bit of a mixed bag in San Diego County. Hopefully this indicates that we are moving toward a more balanced market.

The housing statistics report for San Diego County overall showed an increase in the median price for single-family detached homes from $470,000 in February 2014 to $492,000 in March 2014 and a year-over increase of 13.1 percent from March 2013.

In North San Diego County, the median price for detached homes slipped slightly dropping from $564,500 in February 2014 to $556,000 in March 2014, but still increasing almost 6 percent compared to March 2013. This annual appreciation of approximately 6 percent is much more sustainable than the many months of 20 to 25 percent year-over median price increases we had been experiencing.

The median price of single-family attached homes increased both countywide and in the North County area in March 2014 showing a year-over gain of 5.44 percent countywide and 1.83 percent in North County.

To read the full housing statistics reports, please click on the links below.

FULL COUNTY REPORT    NORTH COUNTY REPORT

Continue reading Housing Statistics Reports for San Diego County and North San Diego County April 2014 →

Home Buyers, Home Sellers, Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, News

Housing Statistics Report for San Diego County and North San Diego County February 2014

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homedex logo housing statistics

The January numbers from the housing statistics report for San Diego County and North San Diego County show continued year-over rising prices along with possible easing and seasonal slowing. This is not surprising since January closings usually represent homes that went under contract in November and December and the market is typically less active during these months due to the holidays. Most real estate analysts also predict a slowing down of the rapid price increases we have experienced in San Diego County over the past 18 months.

While the median price for all North County home sales decreased slightly, the median price for North County single-family detached homes increased by 5.46 percent compared to December 2013 and 22.47 percent over the last 12 months. Median prices for detached homes in all of San Diego County dropped by 1.45 percent from December to January, but were still up by 21.48 percent compared to January 2013.

The median price on single-family attached homes in North County dropped by 0.59 percent in January 2014 compared to December 2013, but were still up by 18.25 percent compared to the previous year. Attached homes in all of San Diego County saw an increase of 1.67 in their median price compared to December 2013 and an increase of 24.49 percent over January 2013.

To read the full housing statistics reports, please click on the links below.

FULL COUNTY REPORT    NORTH COUNTY REPORT

Continue reading Housing Statistics Report for San Diego County and North San Diego County February 2014 →

Home Buyers, Home Sellers, Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, News

Housing Statistics Report for San Diego County and North San Diego County January 2014

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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 →

Home Buyers, Home Sellers, Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, News

Housing Statistics Report for San Diego County and North San Diego County December 2013

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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.

Continue reading Housing Statistics Report for San Diego County and North San Diego County December 2013 →

Home Buyers, Home Sellers, Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, News

Housing Statistics Report for San Diego County and North San Diego County November 2013

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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.

Continue reading Housing Statistics Report for San Diego County and North San Diego County November 2013 →

Home Buyers, Home Sellers, Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, News

Housing Statistics Report for San Diego County and North San Diego County October 2013

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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.

SEPTEMBER 2013 FULL COUNTY HomeDex Report

SEPTEMBER 2013 NORTH COUNTY HomeDex Report

Information taken from HomeDex™ Copyright © 2012 by the North San Diego County Association of Realtors (NSDCAR). Used by permission.

Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, Mortgage, Refinancing, Rental Properties, tax

Get Regular Check-Ups

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Following his heart surgery in August, after an issue was discovered during his annual physical, President George W. Bush encouraged everyone to get regular check-ups. 

homeowners annual advisory

Another important checkup that should be done on a regular basis and can be just as beneficial for your finances is an annual homeowner advisory. Why would you treat your investment in your home with less care than you treat your car or even your HVAC system?

Consider investigating the following:

  • Know the value of your home by obtaining a list of comparable sales in your immediate area as well as what is currently on the market for sale.
  • Have you compared your assessed value for tax purposes to the fair market value in order to possibly reduce your property taxes?
  • Even if you’ve refinanced in the last two years, can you save money and recapture the cost of refinancing in the time you plan to remain in your home?
  • Have you considered reducing your mortgage debt with low-earning cash reserves that will not be needed in the near future?
  • Have you considered investing in rental homes in good neighborhoods to increase your yields and avoid the volatility of the stock market?
  • Do you need recommendations of repairmen and other service providers from a trusted source who deals with them more frequently than you do?

My goal is to create a lifelong relationship to help you be better homeowners. I want to be your “go to” person whenever you have a real estate question. I want to help you not only when you buy and sell but all of the years in between.

I want to provide good, consumer-based information about homeownership on a regular basis. If it benefits you by helping you be a better homeowner, hopefully, you’ll consider me your real estate professional for life.

Anytime you or your friends need help, please call. Knowing where to get the answer is just as important as knowing the answer. If you’d like information on any of the items I suggested, please let me know.

Home Buyers, Home Sellers, Homeowners, Homeownership, Housing Appreciation, Housing Market, Market Statistics, News

Housing Statistics Report for San Diego County and North San Diego County September 2013

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Here is a snapshot of the August housing statistics with links to both the full report for San Diego County and North San Diego County. In North San Diego County, the price of a single-family detached (SFD) home continues to increase, but we are seeing slightly more inventory and longer market times than in July. In San Diego County as a whole, the median-price of an SFD home has been constant during the past three months, but increased 24 .36 percent compared to August 2012.

• The median price for all North County home sales – attached and detached – increased to $495,000 in August 2013 compared to $494,000 in July 2013.

• Detached homes in North County increased 1.95 percent in August 2013 to $575,000 compared to $564,000 in July 2013.

• Year-over median SFD price in North San Diego County jumped 26.10 percent, compared to $456,000 in August 2012 – making 13 months of year-over median price increases (the last six months exceeding 20 percent). August 2013 reported the highest median SFD price since late 2007.

• The countywide median SFD price remained at $435,000 in August 2013 compared to July 2013.

• Year-over non-North County median price jumped 21.17 percent compared to $359,000 in August 2012, the 17th straight month of year-over median price increases.

• The number of North San Diego SFD listings (active and contingent) rose 11.49 percent in August 2013 compared to July 2013.

• The number of sold North San Diego County SFD units decreased 6.94 percent in August 2013 compared to July 2013. Year-over sold SFD units fell 7.71 percent compared to August 2012.

• Median days-on-market for single-family detached homes sold in North County increased to 21 days in August 2013 compared to 17 days in July 2013.

• The HomeDex affordability percentage for all homes in North San Diego County was 33 percent in August 2013.

AUGUST 2013 FULL COUNTY HomeDex Report

AUGUST 2013 NORTH COUNTY HomeDex Report

Information taken from HomeDex™ Copyright © 2012 by the North San Diego County Association of Realtors (NSDCAR). Used by permission.

 

Home Buyers, Home Loans, Homeownership, Housing Appreciation, Housing Market, Market Statistics, Mortgage

It Can’t Hurt to Wait, Can It?

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Wait signIt’s been said that more money has been lost due to indecision than was ever lost because of a bad decision. Regardless of whether you agree with the statement, delaying the decision to buy in today’s market is going to cost the buyer more. 

Home prices have gone up considerably in almost every market in the country in the past year and while inventories are beginning to grow, prices are expected to continue to rise. Mortgage rates jumped 1% from the beginning of May to now. They could easily reach 5% by the end of the year and continue to rise in 2014.

Many of the financial experts in the country believe that the economy will not be strong until rates are in the 7% area.

The two components that move the cost of housing are price and mortgage rates. Escalation of either one will have an affect but when both are going up simultaneously, it is dramatic. It can literally eliminate buyers who could have purchased earlier.

The following example shows what would happen to the payments on a $200,000 home if the price were to go up 3% at the same time that the mortgage rates went up 1%. Not only would the payments go up by $150.81 per month, the price of the home would be $6,000 more. Even though the down payment may not change much, the new owner would have to borrow more money. By not acting, it is costing them more in price and payment. The loss of the appreciation would have been equity had they purchased prior to the rise in price. With the median price of a detached home in San Diego County coming in at $429,750 as of last month, a 3% price increase would cost the buyer even more.

cost of waiting to buy chart

 

 

 

 

 

 

 

Check out the Cost of Waiting to Buy to see what the effect will be using your own projections.