The average sales price for single-family, re-sale homes set a new high for the third month in a row of $877,711 in March. A gain of 15.5% year-over-year.
The median sales price for single-family, re-sale homes also set a new high last month of $670,000. A gain of 9.3% year-over-year. That is the sixth month in a row the median sales price has been higher than the year before.
Home sales were down 6.4% year-over-year.
Inventory, after being higher than the year before fourteen months in a row, fell 2.9% year-over-year. As of the 10th of April, there were 2,443 homes for sale.
Days of Inventory now stands at forty-two.
Days on Market, or how long it took from when a home was listed for sale to when it went into escrow, was thirty-two last month. The average since January 2001 is fifty-seven days.
The sales price to list price ratio was 99.5%. The National Association of REALTORS® considers a ratio of 95% to indicate a balanced market.
The median sales price for re-sale condos also set a new high last month of $454,000. It was up 8.1% year-over-year.
The average sales price for condos also set a new high. It was up 7% from last March.
The sales price to list price ratio for condos was 99.6% last month.
Condo sales were up 1.1% over last March.
Condos are selling in twenty-six days, the average is fifty-five days.
Inventory was up for the fifteenth month in a row. It rose 11.6% year-over-year. As of the10th of April, there were 1,275 condos for sale.
Days of Inventory now stands at forty-two. The average is 123.
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.
For the complete annual report, which includes charts and graphs for each city in the county, click on the following link: http://rereport.com/sdc/print/SDCCSDGeorgeLorimerAnnual.pdf
You may need to cut and paste the links into your browser.
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