SOURCE: Greater San Diego Association of REALTORS

Greater San Diego Association of REALTORS

December 10, 2015 13:29 ET

While Home Sales Dropped in November, They Are on a Better Pace Than 2014, According to Greater San Diego Association of REALTORS®

Rise in Prices Continues at a Healthy Pace

SAN DIEGO, CA--(Marketwired - December 10, 2015) - Sales of previously owned homes saw a dramatic -- yet seasonal -- decline during November, but for the year, San Diego County is on a better pace than 2014, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR).

Single-family home sales were down month-over-month by 25 percent, and about 7 percent from November of 2014. Condominiums and townhome sales were down more than 24 percent from October but posted an increase from a year ago: 6 percent. For the year-to-date, single-family homes sales are up nearly 8 percent, and attached properties are up 10 percent, compared to 2014.

Median prices continue to rise at a healthy rate. Single-family properties sold over 10 percent higher in November compared to October, and stand at $539,000. Condo and townhome sale prices were up over 6 percent from last month, with the median at $340,000. Prices are on a pace to finish 2015 up 6 percent compared to 2014.

The supply of resale homes on the market slipped further, to 2.1 months, while five to six months is considered a healthy level. Homes that sold in the county were on the market for an average of 39 days.

"We aren't seeing any monster growth in home prices, which will be a good thing to maintain economic stability in the region," said SDAR's 2015 Board President Chris Anderson. "Inventory and affordability are the other side of the spectrum, and both are keeping our home sales from shaking loose."

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

  • 92057 (Oceanside North) with 50
  • 91910 (Chula Vista) with 40
  • 92028 (Fallbrook) with 37
  • 92128 (Rancho Bernardo East) with 36
  • 92115 (College) with 34

The most expensive listing sold in the county in November was a 5-bedroom, 8-bath, 9,100-square-foot home on the coast of La Jolla, built in 1996, with a sale price of $12 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 2015 to October 2015 (month over month)

Single-Family: 3 percent INCREASE
November 2015 = $539,000
October 2015 = $524,000

Condos/Townhomes: 4 percent DECREASE
November 2015 = $340,000
October 2015 = $353,000

MEDIAN SALES PRICE Comparing November 2015 to November 2014 (year over year)

Single-Family: 10 percent INCREASE
November 2015 = $539,000
November 2014 = $488,000

Condos/Townhomes: 6 percent INCREASE
November 2015 = $340,000
November 2014 = $320,000

TOTAL SOLD LISTINGS Comparing November 2015 to October 2015 (month over month)

Single-Family: 25 percent DECREASE
November 2015 = 1,407
October 2015 = 1,878

Condos/Townhomes: 24 percent DECREASE
November 2015 = 738
October 2015 = 975

TOTAL SOLD LISTINGS Comparing November 2015 to November 2014 (year over year)

Single-Family: 7 percent DECREASE
November 2015 = 1,407
November 2014 = 1,507

Condos/Townhomes: 3 percent DECREASE
November 2015 = 738
November 2014 = 757

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.

Contact Information