{june market report}

Jeannine Savory Uncategorized

A general slowdown in sales across the country has some worried that a more serious housing shortage is forthcoming, but builder confidence would suggest otherwise. Be on the lookout for an improvement in housing starts in the months ahead to quell any fears. For the 12-month period spanning July 2016 through June 2017, Pending Sales in San Diego County were up 1.5 percent overall. The price range with the largest gain in sales was the $1,000,001 to $1,250,000 range, where they increased 22.8 percent.

The overall Median Sales Price was up 7.5 percent to $515,000. The property type with the largest price gain was the Condos – Townhomes segment, where prices increased 7.6 percent to $382,000. The price range that tended to sell the quickest was the $250,001 to $500,000 range at 27 days; the price range that tended to sell the slowest was the $1,250,001 Or More range at 60 days.

Market-wide, inventory levels were down 26.2 percent. The property type that lost the least inventory was the Single-Family Homes segment, where it decreased 25.9 percent. That amounts to 2.1 months supply for Single-Family Homes and 1.4 months supply for Condos – Townhomes.