Tag Archives: home sales

May 2017 – Market at a Glance

May 2017 real estate statistics

Thanks to the CALIFORNIA ASSOCIATION OF REALTORS, you can view a succinct pdf on the market statistics for last month.

In short, it only takes a listing an average of 22.4 days on the market before it’s in escrow, at the median price of $550,200. View more information below:

Click to view the pdf from CAR.org

Money Monday: California sales and prices up in October

California home sales and median price post higher in October

Source: C.A.R.

marketBolstered by healthy sales activity in Southern California and the Central Valley, California existing home sales and median price gained ground in October on a month-to-month and year-over-year basis, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 442,970 units in October, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2016 if sales maintained the October pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

The October figure was up 4.1 percent from the revised 425,680 level in September and up 8
percent compared with home sales in October 2015 of a revised 410,310. Home sales remained
above the 400,000 pace for the seventh straight month, and were up year-over-year for the second consecutive month. The year-over-year increase was the largest since January, and October’s sales level was the highest since July 2013.

“With prices continuing to increase amid a low supply of homes for sale on the market, especially in the San Francisco Bay Area and coastal regions, home buyers are migrating toward lowerpriced homes in more affordable inland areas,” said C.A.R. President Geoff McIntosh. “As a
result, home prices at the lower end of the market have risen significantly in the past year,
challenging an already depressed homeownership rate.”

The statewide median price remained above the $500,000 mark for the seventh straight month,
with little signs of slowing down. The median price of an existing, single-family detached
California home was up 1.2 percent in October to $513,520 from a revised $507,260 in
September. Since 2010, prices typically have declined from September to October. The monthly
price gain is an indication that demand remains unseasonably strong.

“While this month’s sales and price gains are encouraging, the market continues to experience a
supply issue that won’t abate any time soon,” said C.A.R. Vice President and Chief Economist
Leslie Appleton-Young. “A shortage of new listings remains a threat to home sales in the short
run, and with available inventory below normal levels, the dearth of listings suggests that the
market will remain tight over the near term.”

Full Story: www.car.org/newsstand/newsreleases/2016releases/oct2016sales

Your Mid-Week Real Estate Update February 18, 2016

San Diego real estate update

marketHome prices are climbing at a limited amount compared to last year 2015, while sellers are adjusting their list pricing to reflect actual recent sales. Last December 2015 saw a 33% average of homes on the market at reduced pricing compared to December 2014, 31% of homes at reduced pricing. This trend means that the market is stable, slightly slowing state.

California Association of Realtors statistics show homes are selling at a median of 98.2 percent of the list price during the 4th quarter of 2015. This statewide statistic has a wide margin due to the San Francisco Bay area sales prices are selling well above asking prices with multiple offers due to the very limited inventory. San Diego does not have the same results.

Contact me for more on this!

Home Sales and Prices in California are Lower This Year

California home sales and prices start year lower

California’s housing market started the new year still bearing the scars of 2014’s tight housing inventory and low housing affordability as statewide home sales fell from the previous month and year, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Continue reading

News on San Diego’s Home Sales, Market

market“Home sales dropped significantly in January compared to December, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR).

“…The number of previously owned single-family homes sold dropped 36 percent in January. Condominiums and townhouses fell similarly. Further, single-family home sales were down about 10 percent compared to January of 2014.

“The silver lining is that prices remain stable. The median price of single-family homes in San Diego County ticked up to an even $500,000, and condos and townhomes were virtually unchanged from December, at $332,000.” (“The median price of single-family homes in San Diego County ticked up to an even $500,000”. San Diego Union-Tribune.  http://www.utsandiego.com/news/2015/feb/16/sdar-home-sales-down-in-volume-up-in-price/. 16 Feb. 2015.)

Read more of this article by U-T San Diego. 

Million Dollar Homes Going Up: bring on the bling!!

Million-dollar homes in California are making a comeback, selling for a million dollars or more, many rose to their highest levels in 7 years in the past few months. The luxury market continues to do best in the plus $2-million dollar mark and San Diego is definitely holding its own while competing with the top-dog cities in California for bragging rights or more importantly, the shiniest bling!!

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December’s real estate market conditions

December Existing-Home Sales Rise, 2013 Strongest in Seven Years

housing market trendExisting-home sales edged up in December, sales for all of 2013 were the highest since 2006, and median prices maintained strong growth, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased Continue reading

Values Are Soaring Again in San Diego

home prices up in real estateWith the property tax hike for 2014 predicted to be “tiny” because of low inflation, that means a 0.45 percent increase, the county assessor said. It appears to me that this is a very conservative postulate. This is actually a good thing, because everyone’s tax bill will remain below increasing values.

Inventory continues to be low, with 6,228 active listings last December 2013, which is down about 620 from November, but up from the 4,636 listed in December 2012. That said, inventory or supply will Continue reading