SOURCE: Greater San Diego Association of REALTORS(R)

Greater San Diego Association of REALTORS(R)

July 08, 2015 11:56 ET

June Was a Stellar Month for Home Sales, According to Greater San Diego Association of REALTORS®

Sales of Existing Homes Were 7 Percent Higher Than May

SAN DIEGO, CA--(Marketwired - July 08, 2015) - Sales of existing homes jumped 7 percent in June compared to the previous month, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR).

Compared to June of last year, sales of previously owned single-family homes sales are nearly 11 percent higher, and sales of condos/townhomes shot up 20 percent from June of 2014. Median home prices are also on the rise across the board. The median single-family home price was up over 4 percent in June ($547,500), compared to May, and the price of condos and townhomes also rose by nearly 2 percent, month over month ($354,000).

Active listings on the Multiple Listing Service (MLS) have reached the 7,000 mark. However, the housing stock remains at about 2.6 months. (Five to six months is considered a healthy inventory level.) Homes are being scooped up at an astonishing rate, averaging about 34 days from listing to close of escrow.

"There's a lot to smile about when we look at the first half of 2015," said SDAR's 2015 Board President Chris Anderson. "Inventory is probably the only factor reining in the market, and with so few new homes being built, potential sellers only need to look at these statistics to see that buyers are virtually waiting at their doorstep."

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

  • 92057 (Oceanside North) with 74
  • 92056 (Oceanside East) with 69
  • 92028 (Fallbrook) with 67
  • 92127 (Rancho Bernardo West) with 65
  • 92128 (Rancho Bernardo East) with 60

The most expensive listing sold in the county in June was a 5-bedroom, 5-bath, 3,000-square-foot oceanfront home in La Jolla, built in 2011, with a sales price of $11.5 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 June 2015 to May 2015
Single-Family: 4 percent INCREASE
June 2015 = $547,500
May 2015 = $525,000

Condos/Townhomes: 2 percent INCREASE
June 2015 = $354,000
May 2015 = $348,000

MEDIAN SALES PRICE Comparing June 2015 to June 2014
Single-Family: 5 percent INCREASE
June 2015 = $547,000
June 2014 = $520,000

Condos/Townhomes: 6 percent INCREASE
June 2015 = $354,000
June 2014 = $334,500

TOTAL SOLD LISTINGS Comparing June 2015 to May 2015
Single-Family: 7 percent INCREASE
June 2015 = 2,385
May 2015 = 2,234

Condos/Townhomes: 7 percent INCREASE
June 2015 = 1,178
May 2015 = 1,101

TOTAL SOLD LISTINGS Comparing June 2015 to June 2014
Single-Family: 11 percent INCREASE
June 2015 = 2,385
June 2014 = 2,152

Condos/Townhomes: 20 percent INCREASE
June 2015 = 1,178
June 2014 = 980

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 Facebook, Twitter and YouTube.

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