SOURCE: Greater San Diego Association of REALTORS

Greater San Diego Association of REALTORS

March 09, 2016 12:45 ET

Attached Properties Saw Jump in Sales in February, While Single-Family Properties Were Level, According to Greater San Diego Association of REALTORS®

Median Prices Unmoved

SAN DIEGO, CA--(Marketwired - March 09, 2016) -  Condominium and townhome (attached) home sales of existing properties rose in February, compared to the previous month, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR). 

The attached property sales rose nearly 9 percent last month, while single-family home sales were unchanged from the previous month.

The median price for all properties have barely moved so far this year. Single-family resale home prices stood at $530,000 in February, and the median price of condos and townhomes was just over $354,000.

Resale properties that sold in San Diego County during February closed within an average of 40 days. The supply of homes on the market in San Diego hovered around two months (five to six months is considered a healthy level).

"We're looking forward to a healthy spring selling season, which is just getting started," said SDAR's 2016 President Cory Shepard. "The inventory of properties for sale is edging up, and any rise in mortgage rates this year is expected to be reasonable and should spur more home selling and buying before rates go even higher.

In February, the zip codes in San Diego County with the most single-family sales were:

  • 92028 (Fallbrook) with 46
  • 92056 (Oceanside North) with 37
  • 92115 (College) with 34
  • 91977 (Spring Valley) with 32
  • 91911 (Chula Vista South) with 32

The most expensive listing sold in the county in February was a 7-bedroom, 11-bath, 18,500-square-foot in the La Playa neighborhood of Point Loma, built in 1990, with a sale price of $17.7 million.

SDAR's housing statistics are compiled monthly from the Multiple Listing Service (MLS). Click here for a detailed look at the numbers. Here is a summary:

MEDIAN SALES PRICE Comparing February 2016 to January 2016 (month over month)

  • Single-Family: UNCHANGED
    February 2016 = $530,000
    January 2016 = $530,000
  • Condos/Townhomes: 1 percent INCREASE
    February 2016 = $354,450
    January 2016 = $335,000

MEDIAN SALES PRICE Comparing February 2016 to February 2016 (year over year)

  • Single-Family: 7 percent INCREASE
    February 2016 = $530,000
    February 2015 = $495,000
  • Condos/Townhomes: 6 percent INCREASE
    February 2016 = $354,450
    February 2015 = $335,000

TOTAL SOLD LISTINGS Comparing February 2016 to January 2016 (month over month)

  • Single-Family: UNCHANGED
    February 2016 = 1,337
    January 2016 = 1,331
  • Condos/Townhomes: 9 percent INCREASE
    February 2016 = 739
    January 2016 = 681

TOTAL SOLD LISTINGS Comparing February 2016 to February 2016 (year over year)

  • Single-Family: 12 percent DECREASE
    February 2016 = 1,337
    February 2015 = 1,525
  • Condos/Townhomes: 1 percent DECREASE
    February 2016 = 739
    February 2015 = 749

With more than 12,000 members, the Greater San Diego Association of REALTORS® is the largest trade association in the county. We help our members, who adhere to a code of ethics and professional standards, sell more homes. We also help people realize the dream of home ownership, and we are dedicated to protecting private property rights. You can follow SDAR on FacebookTwitter and YouTube.

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