San Diego Market Update for May
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San Diego County
Market Update May 2011 You can always find accurate, timely and customized real estate “Market Trends” at www.TheJoysOfRealEstate.com. You will find complete trend charts on San Diego County, Scripps Ranch, Rancho Bernardo, Poway, Rancho Penasquitos, Mira Mesa and Carmel Valley. The average sales price of homes did not change appreciably last month. However, attached homes prices declined -4.6% compared to this time last year while single family home prices were unchanged. This data is somewhat misleading as we mentioned last month, the price per square foot for all homes has decreased -6% over the last year. Home
sales have increased to a total for the month of 2,872 sales which is the same
level as the month of April last year.
Homes are selling as it is a buyer’s market with incredible prices and interest
rates below 5%. The most affordable
market in 40 years. Distressed property sales accounted for 48% of the home sales last month. This is a welcomed decline from the first quarter numbers of 54%. Short sales were 25% of all sales whereas foreclosures accounted for 23%. This is more in line with what was observed last year. If you would like more information on other areas or would just like to comment on this information please send us an email of give us a call. Thank you for your referrals as that accounts for 90% of our business of creating delighted home buyers and sellers. |
Source: Sandicor Multiple Listing Service
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