Tag Archives: real estate market

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.

Homeowners

Boomerang Buyers

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Waiting periods.pngIt’s estimated that 10% of the homes sold in 2013 will be to buyers who lost a home in the past five years.  Approximately 500,000 buyers who may have thought they wouldn’t own a home anytime in the near future will be homeowners again.

It’s estimated that several million of these previous homeowners will purchase again in the next eight years.  This kind of activity will contribute significantly to the housing recovery.

Some people thought that the housing crisis would cause a shift in values placed on owning a home but the boomerang buyers definitely don’t support that theory.  Having a home of your own, where you can raise your family, share with your friends and feel safe and secure is still part of the American Dream.

The rising rents, increasing prices and low, low mortgage rates are also influencing buyers into the market.  In many cases, it is cheaper to own that to rent.

All new buyers, including those who have experienced foreclosures or bankruptcies, must have good credit history and the ability to repay the loan.  It just may not take as long to reestablish the credit as some would-be buyers might have thought.

Read more about Bidding Wars This Spring, Spring’s Wild Card and Boomerang Buyers.