Real Estate Report presented by Road Runner Realty

October 2017 Report

Single Family Homes in North County Inland, All Cities, All Neighborhoods Change >


Median Price
$595,000
-0.5%
Average Price
$639,017
-0.4%
No. Sold
580
-18.3%
Pending Properties
843
+0.8%
Active
1,178
-5.3%
Sale/List Price Ratio
98.3%
-0.2%
Days on Market
36
+0.9%
Days of Inventory
59
+12.1%

Market Barometer

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Market Commentary

Home Prices Continue to Slip

After reaching an all-time record high in July at $610,000, the median price for single-family, re-sale homes in San Diego County continued their downward drift in September, falling 0.8% from August.

Nevertheless, the median price was up 8.1% year-over-year. That’s sixty-four months in a row the median price has been higher than the year before.

The median price for condominiums was up 1.5% in September from the month before. The median price was up 9.4% year-over-year, again, that’s sixty-four months in a row it has been higher than the year before.

Home sales, meanwhile, were down 10.8% from last September. Year-to-date, home sales are off 5.0%. Condo sales were down 14.5% but are up 2.7% year-to-date.

Homes are selling quickly, taking only thirty-five days from coming onto the market to when they go under contract. The average since January 2001 is fifty-seven days. Condos are selling in twenty-seven days, whereas the average is fifty-five days.

The sales price to listing price ratio continues to tease the 100% level: 98.3%. The ratio for condos is 99.1%.

Inventory continues to be abysmal. It is less than a quarter the average since 2001. As of the 10th of September, there were 3,660 homes for sale. We average 17,211!

This is reflected in our Days of Inventory statistic which is fifty-six. The average is one-hundred and forty-four.

If you would like to know what’s going on in your neighborhood, visit my on-line report and click on Recent Sales & Listings. That will tell you what is for sale and what has sold in your neighborhood.

Prices & Sales

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Days of Inventory

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Sales to Date

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Sales Price Ratio

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