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San Diego Real Estate Market 2016

San Diego Real Estate Market 2016

San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2016

©2016 By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339

The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system between January 1, 2016 and June 30, 2016. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. In 2016, the projected total number of units sold for the year will be 35,648, up from 35,232 sales in 2015 (see figure 1).

San Diego real estate

Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month. In 2008, the monthly absorption rate decreased to a low of 1,998 units. The 2016 projected monthly absorption rate will be 2,974 units, up from 2,936 units in 2015 (see figure 2). Read more »