Local news outlets across the nation have been delving into the cause for lower sales totals in their markets during a period of economic growth, and it generally boils down to a lack of housing supply, especially in certain price ranges, to meet buyer demand. For the 12-month period spanning August 2016 through July 2017, Pending Sales in San Diego County were up 1.6 percent overall. The price range with the largest gain in sales was the $1,000,001 to $1,250,000 range, where they increased 20.8 percent.
Market-wide, inventory levels were down 26.7 percent. The property type that lost the least inventory was the Single-Family Homes segment, where it decreased 26.0 percent. That amounts to 2.1 months supply for Single-Family Homes and 1.4 months supply for Condos – Townhomes.