SOURCE: Greater San Diego Association of REALTORS

Greater San Diego Association of REALTORS

October 09, 2014 17:21 ET

Sales, Prices Stabilize in September, According to Greater San Diego Association of REALTORS®

Homes That Sold in September Were on the Market for an Average of 42 Days

SAN DIEGO, CA--(Marketwired - Oct 9, 2014) -  Home sales and prices in San Diego County stabilized in September, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR). 

Sales of single-family resale homes decreased 2 percent in September compared to August, but sales of condo/townhouses increased by nearly 2 percent during the same time period.

The median price of single-family homes was unchanged in September at $510,000, which is about 5 percent higher than the median price a year ago. Condos and townhomes saw a 1 percent dip from the previous month, with a median price of $337,500, almost 11 percent higher than September of 2013.

The number of active listings on the Multiple Listing Service (MLS) in San Diego County has been hovering around 8,400 for the past three months, with just over three months of housing stock. (Six months is considered a healthy inventory level.) Homes that sold in September were on the market for an average of 42 days.

"Several real estate markets across the country have struggled lately to find solid footing, so it's encouraging to see San Diego's real estate market show signs of stabilizing," said Leslie Kilpatrick, SDAR Board President. "Excellent properties go up for sale every day, but the ones that are priced correctly are not on the market long, so it's important for buyers to do their homework and be prepared to act."

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

  • 92127 (Rancho Bernardo) with 48
  • 92028 (Fallbrook) with 46
  • 92064 (Poway) with 45
  • 92056 (Oceanside) with 42
  • 92117 (Clairemont) also with 42

The most expensive listing sold last month in the county: a 6-bedroom, 8-bath, 21,000-square-foot home in Rancho Santa Fe that sold for $13 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 September 2014 to August 2014

  • Single-Family: UNCHANGED
    September 2014 = $ 510,000
    August 2014 = $ 510,000
  • Condos/Townhomes: 1 percent DECREASE 
    September 2014 = $ 337,500
    August 2014 = $ 340,000

MEDIAN SALES PRICE Comparing September 2014 to September 2013

  • Single-Family: 5 percent INCREASE 
    September 2014 = $ 510,000
    September 2013 = $ 486,500
  • Condos/Townhomes: 11 percent INCREASE 
    September 2014 = $ 337,500
    September 2013 = $ 305,000

TOTAL SOLD LISTINGS Comparing September 2014 to August 2014

  • Single-Family: 2 percent DECREASE  
    September 2014 = 1,728
    August 2014 = 1,769
  • Condos/Townhomes: 2 percent INCREASE   
    September 2014 = 865
    August 2014 = 849

TOTAL SOLD LISTINGS Comparing September 2014 to September 2013

  • Single‐Family: 1 percent DECREASE   
    September 2014 = 1,728
    September 2013 = 1,742
  • Condos/Townhomes: 4 percent DECREASE   
    September 2014 = 865
    September 2013 = 901

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.