San Diego Housing Market Update-January 2016 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

-3.0%

+7.5%

-22.3%

Inventory levels (the number of homes on the market “actively” for sale) have dropped considerably (mainly due to seasonality). This San Diego housing market update shows San Diego Housing market update for home salesthere are currently only 5851 active residential listings in San Diego county, compared to last month of 5550.

According to Bankrate.com, interest rates have continued to stay under the 4% level, despite the Federal Reserve Bank finally raising rates .25%. They are currently at 3.67% for a 30-year fixed loan (they were 3.92% at this time last month). This is still 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 have settled into a more normal pattern. There are much more modest changes than the previous year, with a 7.5% (it was 8.0% the previous month) increase in median prices, compared to over 20% we saw in 2013 and early 2014. However, there considerably less homes for sale from a year ago.

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

San Diego Housing Market update for January 2016 sales

CLICK FOR FULL SIZE

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
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3 Responses to “San Diego Housing Market Update-January 2016 Sales”

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