San Diego Housing Market Update-May 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

-2.0%

+6.4%

-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 6600 active residential listings in San Diego county, which is up slightly when compared to last month of 6393.

According to Bankrate.com, interest rates have come above the 4% level. They are currently at 4.11% for a 30-year fixed loan (they were 3.97% 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 are starting to take on a more normal pattern. There are much more modest changes than the previous year, with a 6.4% 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.

Housing Market Statistics for San Diego May 2015

CLICK TO ENLARGE

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
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