Real Estate Report presented by Tami McCraw

TIP: Click on table above to get year-over-year statistics.

After setting new highs four months in a row, the median sales price for single-family, re-sale homes in San Diego County took a breather in July. It was down 1.3% from June. It was up 5.2% year-over-year.

The average sales price gained 4.1% over last July.

The median sales price for re-sale condominiums set a new high last month of $430,000. It was up 6.2% year-over-year, while the average price gained 4.3%.

That’s seventy-four months in a row the median price for both homes and condos has been higher than the year before.

Home sales, meanwhile, were down 0.5% from last July. Condo sales were down 6.4%, year-over-year.

Year-to-date, home sales are off –10%, and condos are down –7.3%.

Homes continue to sell quickly, taking only thirty-three 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-eight days, the average is fifty-five days.

The sales price to listing price ratio continues to tease the 100% level: 98.7%. The ratio for condos is 99.2%.

Inventory continues to be abysmal. It is just over one-half the average since 2001. As of the 10th of August, there were 4,343 homes for sale. We average 8,515!

Condo inventory is at 1,760 units for sale. The average is 9,603.

This is reflected in our Days of Inventory statistic which is sixty-four for homes. The average is one-hundred and forty-four.

There are forty-three Days of Inventory for condos. The average is one-hundred and thirty-two.

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