San Diego County Residential Real Estate Market

The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. * All 2013 data in figures 1 through 4 will be projected based on market data taken from January through September as reported by the San Diego County MLS system. 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 peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units. *The 2013 projection shows the total number of units sold for the year will be 37,581, above the 35,935 units sold in 2012 (see figure 1).

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 projection for 2013 shows a monthly absorption rate of 3,132 units, which would be the highest since 2005 (see figure 2).

Market Overview: The mean sold price for a housing unit in San Diego County peaked in 2007 at $621,675. The mean sold price in 2009 decreased to a low of $385,754, a 37.9 percent decrease from the market peak in 2007. *In 2013, the projected mean sold price is $510,461, which would be an 17.9 percent decline from the market peak, yet is a 16.5 percent increase over the mean sold price of $438,096 in 2012 (see figure 3).

*The second (and final) part of this report will be posted here tomorrow.

*Part two of two is now published : San Diego real estate market