Central San Diego Housing Market Update-March 2014

The spring buying season is here in the San Diego housing market. With sales and price per square foot rising compared to the previous month. This is a normal pattern for this time of year. Homes are continuing to sell at a fairly brisk rate, meaning buyers don’t have long to act on a property they love.

Interest rates have started to slowly creep up near the 4.5% level. They are currently at 4.45%. Inventory levels (the number of homes on the market “actively” for sale) is continuing to stay absan diego housing market updateove the 6000 level for San Diego county. Finally, prices are starting to take on a more seasonal pattern, with much more modest changes than the previous year.

To get the latest figures, I ran an analysis of home figures from the MLS for the central San Diego region (a 7 mile radius). 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 # of Sales Median Sale Price Med Price/Square Ft. Ave Days on Market    
March 2014 589 $481K $377 17
February 2014 464 $437K $365 23
March 2013 770 $422K $331 15

There are currently 6400 active listings in San Diego county, up from 6200 last month. That number should continue rise in the coming months and more people put their homes up for sale.

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