Overall, the market’s not off to a bad start for 2015. This month’s San Diego County housing market report shows reasonable price increases for the county as a whole, with less of an upturn in North County.
The number of sold properties dropped compared to December, but this is typical for January and reflects fewer homes going under contract during the holidays.
As you can see in the chart below, inventory is still limited. The number of available homes for sale in January was the lowest it has been since 2004.
Take a look at the North County and San Diego County summaries below, or click on the links for a detailed look at January’s statistics.
This month’s San Diego County housing market report looks positive. The December numbers show healthy appreciation. These aren’t the twenty to twenty-five percent annual appreciation numbers we saw for many months straight, but a continuation of the sustainable growth we saw throughout most of 2014.
Take a look at the North County and San Diego County summaries below, or click on the links for a detailed look at December’s statistics. You may also want to go to The San Diego Union-Tribune’s recently published article reviewing San Diego County’s housing market for 2014. It’s full of good information.
After 26 straight months of year-over median price increases, North County single family detached homes finally saw a decrease of 0.88 percent in October. That was not the case countywide where prices of detached homes increased 4.20 percent.
The months of double digit appreciation that peaked in mid-2013, the normal market slowdown that comes as we approach the holidays, and fewer investors in the market are all factors in the slowdown.
To read the full housing statistics reports, click on the links below.
Median prices of single family detached homes in San Diego County overall and in North County specifically showed an increase of slightly over five percent compared to the previous year. This puts appreciation very close to historical averages. Investors and foreclosures no longer have a strong influence in our market. It is being driven by more traditional factors such as wages and interest rates.
Inventory is still on the tight side with under four months’ supply, but higher than it was at this time last year as can be seen in the chart below.
To read the full housing statistics reports, click on the links below.
Overall, the market’s not off to a bad start for 2015. This month’s San Diego County housing market report shows reasonable price increases for the county as a whole, with less of an upturn in North County.