March 2014 is a Seller’s market! The number of for sale listings in San Diego County was up 42.8% from one year earlier and up 5% from previous month. The number of sold listings decreased 20.5% year over year and increased 17.5% month over month. The number of under contract listings was up 19.6% comparing to previous month and down 2.9% comparing to previous year. The Months of Inventory based on Closed Sales is 2.4, up 79.6% from previous year.

The Average Sold Price per Square Footage was up 6.1% comparing to previous month and up 18.5% comparing to last year. The Median Sold Price increased by 5.9% from last month. The Average Sold Price also increased by 11.4% from last month. Based on the 6 month trend, the Average Sold Price trend is “Appreciating” and the Median Sold Price trend is “Appreciating”.

The Average Days on Market showed a neutral trend, a decrease of 16.9% comparing to previous year. The ratio of Sold Price vs. Original List Price is 96%, a decrease of 1% comparing to previous year.

Property Sales (Sold)
March property sales were 2657, down 20.5% from 3342 in March of 2013 and 17.5% higher than the 2262 sales last month.

Current Inventory (For Sale)
Versus last year, the total number of homes available this month is higher by 1949 units of 42.8%. This year’s bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventories is up 5% comparing to the previous month.

Property Under Contract (Pending)
There was an increase of 19.6% in the pended properties in March, with 3492 properties versus 2919 last month. This month’s pended property sales were 2.9% lower than at this time last year.

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