Central San Diego Housing Market Update-July 2013

For the first time in over a year, pricing is taking a breather, as the month of July drew to a close. It is still a very strong seller’s market, while buyers (including cash investors) continued bidding wars on listed properties. However, the skyrocketing home prices may be peaking, with the average sale price finally slipping over the previous month. Our 20% year-over-year price increase also slipped to a 17% increase. To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region. This includes communities such as Mission Valley, Serra Mesa, University Heights, Normal Heights, Hillcrest, Mission Hills,  Bay Park, and Clairemont. The numbers include both condo/townhomes as well as single-family homes.


Housing Figures-Central San Diego

Date Number of Sales Ave Sale Price Ave Price/Square Ft. Ave Days on Market
July 2013  239 $447K $353 29
June 2013 247 $505K $366 29
July 2012 231 $371 $290 69

san diego housing market updatePrices continued to rise in San Diego (now 17% year-over-year), while inventory seems to finally be catching up with demand. With nearly 6000 active properties for sale in San Diego County, we were close to 4000 earlier this year. Properties newly for sale also continued to sell very rapidly, with only 29 days on market.

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