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.
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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*All Market Information is provided to you by TrendGraphix | All reports are published April 2014, based on data available at the end of March 2014. All reports presented are based on data supplied by the Sandicor MLS. Sandicor MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the Sandicor MLS may not reflect all real estate activities in the market.