San Diego Housing Market Update August 2014

The end of summer is here and inventory levels (the number of homes on the market “actively” for sale) continues to climb. This San Diego housing market update shows there are currently 8350 active listings in San Diego county, up slightly from 8295 last month.

Activity Snapshot:

One-year change in closed sales

One-year change in median sales price

One year change in homes for sale

-23.7%

8.3%

-4.8%

How's the market 2According to Bankrate.com, interest rates are currently at 4.20% for a 30-year fixed loan. This is well below the historical average of 6% or so, which is great for home buyers. To calculate your potential mortgage payment, go HERE. Finally, as you will see on the chart below, prices are starting to take on a more normal pattern. There are much more modest changes than the previous year, with a 8.3% increase in median prices, compared to over 20% a few months earlier. However, these higher prices are now resulting in a slow-down of the number of homes sold over a year ago.

The San Diego Association of Realtors analyses housing market date for San Diego county every month. Below is their monthly report. The figures combine both condos and townhomes, as well as single-family homes.

San Diego House Market Stats August 2014

Click for full size

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
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