San Diego Real Estate Market 2014
San Diego real estate market 2014
Yesterday, the San Diego Association of realtors reported that although the median San Diego home sales price has stabilized above $500,000, single-family home resales for July decrease by 13% compared to sales in June. During the same period, sales of previously owned condominiums and townhomes fell about 2%.
The San Diego median single-family home prices, in July was $517,000, which was down just slightly from June, but up 7% compared to July 2013. The San Diego median price for a condominium or town home was $325,000 in July, which was down approximately 3% from the prior month, and about the same as the year ago.
One area of concern in today’s San Diego real estate market is the fact that the number of active listings in the San Diego MLS is almost 8,500, which is the highest it’s been in approximately 2 1/2 years.
Today, DataQuick, a real estate statistical company, reported that for Southern California (Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange County) home sales fell to a three-year low in July. Also, cash home sales declined to their lowest level in more than four years.
The number of homes sold in Southern California in July was down 12.4% from a year ago in July 2013. As the economy slowly improves and it seems clear that the big move in housing we saw last year is now just a fond memory, both distressed home sales and investor homebuying are declining.
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