San Diego Housing Market Update–January 2015 Sales

Below is my monthly analysis of the San Diego housing market. It will show many different metrics to help us get an accurate “feel” for what is happening in our local real estate market!

Activity Snapshot:

One-year change in closed sales

One-year change in median sales price

One year change in homes for sale

-16.0%

+10.0%

-16.9%

Inventory levels (the number of homes on the market “actively” for sale) continues to stay strong. This San Diego housing market update shows san diego housing market updatethere are currently only 5958 active residential listings in San Diego county, which continues in a downward trend. There were 5832 last month.

According to Bankrate.com, interest rates continue to trend lower compared to previous months. They are currently at 3.89% for a 30-year fixed loan (they were 4.08% at this time last month). This is well below the historical average of 6% or so, which is great for home buyers. To calculate your potential mortgage payment or see what you can afford, 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 10.0% increase in median prices, compared to over 20% we saw in 2013 and early 2014. However, these higher prices are now resulting in a considerable slow-down of the number of homes sold over a year ago.

The San Diego Association of Realtors analyzes housing market date for San Diego county every month. Below is their monthly report. The figures represents ALL property types.

San Diego Housing market update

CLICK TO ENLARGE IMAGE

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
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