San Diego Market Update for April
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San Diego County
Market Update April 2011 This month we would like to stray from the traditional data and take a look at some trends in the San Diego County real estate market. You can always see all the accurate and customized real estate market trends which are collected directly from the San Diego County Multiple Listing System (MLS) by going to our website www.TheJoysOfRealEstate.com and clicking on the drop down menu “Market Trends”. There you will see complete information on San Diego County, Scripps Ranch, Rancho Bernardo, Poway, Rancho Penasquitos, Mira Mesa and Carmel Valley. Although it appears the average sales price of homes in the county hasn’t change much with the exception of the dip in the first quarter, the real trend is observable by looking at the chart to the right on the price per square foot of homes sold. With this information you can observe the steady decrease in home prices of 6% over the last year. The other interesting trend we would like to bring to your attention is the steady increase in the time to sell a home which is called days on the market. It has increased 40% over the last year and it is a lot tougher to sell a home today. This is a buyer’s market and is the most affordable real estate market in 40 years. Interest rates for 30 year fixed rate mortgages are still below 5% and in most areas it is cheaper to buy than rent today. If you would like more information on other areas or would just like to discuss this topic send us an email of give us a call. Thank you for your referrals. |
Source: Sandicor Multiple Listing Service
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