Low supply and steadily rising rates and prices have been the story so far after the first quarter of the year zipped by. The storylines are not expected to change as we work our way into the busiest months of the real estate sales cycle. For the 12-month period spanning April 2016 through March 2017, Pending Sales in San Diego County were up 2.3 percent overall. The price range with the largest gain in sales was the $1,000,001 to $1,250,000 range, where they increased 17.2 percent.
The overall Median Sales Price was up 6.4 percent to $500,000. The property type with the largest price gain was the Condos – Townhomes segment, where prices increased 7.6 percent to $375,000. The price range that tended to sell the quickest was the $250,001 to $500,000 range at 28 days; the price range that tended to sell the slowest was the $1,250,001 and Above range at 61 days.