Category Archives: Market Statistics

Home Buyers, Home Sellers, Homeowners, Housing Market, Market Statistics

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

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Prices continue to increase, and inventory is still tight in North County and San Diego County as a whole. Here is a snapshot of the June housing reports with links to both the full statistics for San Diego County and North San Diego County.

  • The median price for all North County home sales – attached and detached – increased to  $495,000 in June 2013 compared to $485,000 in May 2013.
  • Detached homes in North County rose 1.71 percent in June 2013 to $565,000 compared to $555,500 in May 2013. June 2013 was the highest reported SFD median prices in North County since January 2008.
  • Year-over median SFD price in North San Diego County jumped 20.21 percent, compared to $470,000 reported in June 2012.
  • The countywide median SFD price increased 2.32 percent to $429,750 in June 2013 compared to $420,000 in May 2013.
  • Year-over non-North County median price jumped 23.49 percent compared to $348,000 in June 2012, a 15-month trend of year-over median price increases.
  • The number of North San Diego SFD listings (active and contingent) rose 5.97 percent in June 2013 compared to May 2013.
  • The number of sold North San Diego County SFD units decreased 5.76 percent in June 2013 compared to May 2013. Year-over sold SFD units decreased 0.88 percent compared to June 2012.
  • Median days-on-market for single-family detached homes sold in North County increased to 19 days in June 2013 compared to 18 days in May 2013.
  • The HomeDex affordability percentage for all homes in North San Diego County remained at 34 percent in June 2013.

JULY 2013 FULL County HomeDex Report

JULY 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, Housing Market, Market Statistics

When Rates Go Up

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FreddieMac PMMS 2013.pngRising interest rates are great if you are renewing a certificate of deposit but not so much when you’re borrowing money. With interest rates on the rise as well as home prices, housing affordability is a concern for would-be homeowners.

A rough rule of thumb is that a person’s or family’s housing should not exceed 28% of their monthly gross income. While rental rates and home prices have been consistently increasing, mortgage rates have been soaring in the past month. In one week, according to the Freddie Mac Primary Mortgage Market Survey, they jumped by .5%.

This means that people have to pay a larger percentage of their income for housing unless their incomes have been increasing at an equal pace.  A $200,000 mortgage would be over $100 more per month if closed in July compared to closing at the interest rates available in January of 2013.

If rates increase by .5% by the time you close on the same size mortgage, payments would increase by almost $60 per month. In order to keep the payments the same, a borrower would have to put an additional $11,000 down to lower the mortgage amount. 

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Check out how your payment would be affected if interest rates continue to rise.

Although The National Association of REALTORS® suggests that housing is more affordable now than one year ago, according to the California Association of Realtors® that is not the case in California. Their May 2013 statistics show the largest year-over-year price gain in at least the last 33 years. Also, with all of the variables in play including inflation that were not addressed in this piece, it is unclear how long conditions will remain “affordable.” 

Home Buyers, Home Sellers, Homeowners, Housing Market, Market Statistics

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

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Prices are moving up, and inventory is still tight in North County and San Diego County as a whole. Here is the North County snapshot of the May housing report with a link to both the full statistics for San Diego County and North County.

• The median price for all North County home sales – attached and detached – increased to $485,000 in May 2013 compared to $470,000 in April 2013.

• Detached homes in North County rose 3.83 percent in May 2013 to $555,500 compared to $535,000 in April 2013.

• Year-over median SFD (single family detached) price in North San Diego County jumped 23.72 percent, compared to $449,000 reported in May 2012.

• Spring 2013 has reported the highest median prices in North County since mid-2008.

• The countywide median SFD price increased five percent to $420,000 in May 2013 compared to $400,000 in April 2013.

• Year-over non-North County median price jumped 21.74 percent compared to $345,000 in May 2012, a 14-month trend of year-over median price increases.

• The number of North San Diego SFD listings (active and contingent) rose 5.35 percent in May 2013 compared to April 2013.

• The number of sold North San Diego County SFD units increased 11.49 percent in May 2013 compared to April 2013. Year-over sold SFD units increased 12.54 percent compared to May 2012.

• Median days-on-market for single-family detached homes sold in North County decreased to 18 days in May 2013 compared to 19 days in April 2013.

• The HomeDex affordability percentage for all homes in North San Diego County decreased to 34 percent in May 2013, compared to 36 percent in April 2013.

JUNE 2013 FULL County HomeDex Report

JUNE 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 Sellers, Homeowners, Housing Market, Market Statistics

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

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I can’t speak for the rest of the country, but here in San Diego County we are experiencing low inventory, short market times and rising prices. Here is a snapshot of the April housing report along with two links to the full reports for both San Diego County as a whole and the North County area.

• The median price for all North County home sales – attached and detached – increased to $470,000 in April 2013 compared to $448,000 in March 2013.

• Detached homes in North County increased 1.9 percent in April 2013 to $535,000 compared to $525,000 in March 2013.

• Year-over median price in North San Diego County jumped 27.38 percent, compared to $420,000 reported in April 2012.

• April 2013 marked the highest price increase in North County since mid-2008.

• The countywide median SFD price increased 1.27 percent to $400,000 in April 2013 compared to $395,000 in March 2013.

• Year-over non-North County median price jumped 17.73 percent compared to $339,750 in April 2012.

• The number of North San Diego SFD listings (active and contingent) rose 0.76 percent in April 2013 compared to March 2013.

• The number of sold North San Diego County SFD units increased 9.03 percent in April 2013 compared to March 2013. Year-over sold SFD units increased 8.91 percent compared to April 2012.

• Median days-on-market for single-family detached homes sold in North County fell to 19 days in April 2013 compared to 26 days in March 2013.

• The HomeDex affordability percentage for all homes in North San Diego County decreased to 36 percent in April 2013, compared to 39 percent in March 2013.

May 2013 NORTH COUNTY HomeDex Report
May 2013 FULL COUNTY HomeDex Report

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