San Diego Housing Market Update – November 2014 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

-19.5%

+6.0%

-12.4%

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 6933 active residential listings in San Diego county, which continues in a downward trend. There were 7848 last month.

According to Bankrate.com, interest rates continue to trend lower compared to previous months. They are currently at 4.15% 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 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 6.0% increase in median prices, compared to over 20% we saw in 2013. 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 represent all property types.

San Diego Housing Market update for November 2014

Click To Enlarge

For more information on this topic:

619.384.2248
Ryan@RyanYourRealtor.com
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