The Joys of Real Estate

The average price for detached homes in San Diego County decreased last month by -1.4% and compared to this time last year they are up only 8%.  The attached home prices increased last month by 5.3% and are also up 8% compared to this time last year.  The price per square foot for both detached and attached homes also followed the same trend.  The months of inventory increased last month from 3.4 months to 4.3 months.  See more data…

Home sales last month were down -18% from the previous month for both single family and attached homes and is also down the same amount from this time last year.   

Distressed property sales were 46% of home sales last month with foreclosures at 21% and short sales 25%. 

The chart to the right shows the months of inventory in $200,000 price ranges for the last two months so you can better visualize what is happening in the present market.  As you can observe, the prices of the higher priced homes are continuing to fall causing the inventory in the lower price ranges to increase.  It is a ripple down affect.