SOURCE: Greater San Diego Association of REALTORS

Greater San Diego Association of REALTORS

December 09, 2014 09:00 ET

November Sales Experience Seasonal Decline, According to Greater San Diego Association of REALTORS®

Prices Have Increased About 5 Percent From Same Time Last Year

SAN DIEGO, CA--(Marketwired - Dec 9, 2014) - A drop in homes sales during November reflects a seasonal decline heading into the holiday season, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR). 

Single-family home sales were down month-over-month by nearly 22 percent, and about 14 percent from November of 2013. Similarly, condominiums and townhome sales were down about 19 percent from October and nearly 11 percent from a year ago.

Home prices saw little movement in November. The median price of single-family homes ($491,000) was down approximately 1 percent from a month ago. Condos and townhomes saw prices dip 4 percent compared to October. Compared to the same month last year, the median price of all resale properties is up 5 percent. Heading into the end of 2014, prices are up about 8 percent compared last year.

The number of active listings on the Multiple Listing Service (MLS) in San Diego County is approximately 7,300, representing 3 1/2 months of housing stock. (Six months is considered a healthy inventory level.) On average, homes on the market are selling within only about 43 days of being listed.

"While we are experiencing some typical seasonal slowing, housing prices and inventory levels have stabilized, interest rates remain low and homes continue to sell quickly," said Leslie Kilpatrick, SDAR's 2014 Board President. "Opportunities exist in every market, and current conditions have been a plus for first-time buyers and people returning to the market."

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

  • 92128 (Rancho Bernardo) with 39
  • 91910 (Chula Vista) with 38
  • 92065 (Ramona) with 37
  • 92028 (Fallbrook) with 36
  • 92057 (Oceanside) with 32

The most expensive listing sold in the county last month was a 4-bedroom 4-bath, 2,900-square-foot beach home in Del Mar that sold for $16 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 November 2014 to October 2014

  • Single-Family: 1% DECREASE
    November 2014 = $491,000
    October 2014 = $ 496,750

  • Condos/Townhomes: 4% DECREASE
    November 2014 = $325,000
    October 2014 = 337,500

MEDIAN SALES PRICE Comparing November 2014 to November 2013

  • Single-Family: 5 percent INCREASE
    November 2014 = $ 491,000
    November 2013 = $ 469,000

  • Condos/Townhomes: 5 percent INCREASE
    November 2014 = $ 325,000
    November 2013 = $ 310,000

TOTAL SOLD LISTINGS Comparing November 2014 to October 2014

  • Single-Family: 22 percent DECREASE
    November 2014 = 1,383
    October 2014 = 1,764

  • Condos/Townhomes: 19 percent DECREASE
    November 2014 = 679
    October 2014 = 835

TOTAL SOLD LISTINGS Comparing November 2014 to November 2013

  • Single-Family: 14 percent DECREASE
    November 2014 = 1,383
    November 2013 = 1,609

  • Condos/Townhomes: 11 percent DECREASE
    November 2014 = 679
    November 2013 = 761

With roughly 12,000 members, the Greater San Diego Association of REALTORS® is the largest trade association in the county. Our REALTORS® adhere to a code of ethics and professional standards above and beyond the norm. We help our members sell more homes. We 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.