HOME SALES AND PRICES INCREASED IN APRIL, REALTORS GROUP REPORTS

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Ramona tops list with most homes sold

 

East County News Service

Photo: Creative Commons

May 9, 2019 (San Diego) – Sales of existing homes in San Diego County continued to rise in April, according to housing statistics compiled through the San Diego Multiple Listing Service by the GreaterSan Diego Association of REALTORS®.

Sales of previously owned single-family (detached) homes in April grew by 9 percent compared to March, and attached properties (condominiums and townhomes) were nearly 7 percent higher. Compared to the same month last year, sales of single-family homes are down 2 percent, and for attached properties they are 12 percent lower.

The median price of detached homes ticked up in April to $655,000, an increase of 4 percent over March and 2 percent over April of last year. Condos and townhomes, however, are unchanged since last month, settling at a median price of $420,000, which has changed little over the past year. There is an encouraging 3.8 percent increase in the supply of all homes on the market compared to the same month last year.

 

“Buyer demand is growing in force this spring,” said SDAR President Kevin M. Burke, JD. “For well-priced homes in desirable locations, I can tell you that competition is fierce.”

 

In April, the zip codes in San Diego County with the most single-family home sales were:

  • 92065 (Ramona) with 52
  • 92114 (Encanto) with 48
  • 92057 (Oceanside North) and 92071 (Santee), both with 47
  • 92078 (San Marcos South) with 45
  • 92127 (Rancho Bernardo West) with 44

The most expensive single-family property sold in April in San Diego County is a newly constructed ocean-view home in Olde Del Mar, with 5,700 square feet, 6 bedrooms, 7 bathrooms, and a sale price of $9.45 million.

SDAR’s housing statistics are compiled monthly from the Multiple Listing Service (MLS). Click here for a detailed look at the numbers. Here is a summary:

 MEDIAN SALES PRICE Comparing April 2019 to March 2019 (month over month)

Single-Family:  4.0 percent INCREASE

April 2019 = $655,000

March 2019 = $629,945

Condos/Townhomes: UNCHANGED

April 2019 = $420,000

March 2019 = $420,000

MEDIAN SALES PRICE Comparing April 2019 to April 2018 (year over year)

Single-Family: 2.3 percent INCREASE

April 2019 = $655,000

April 2018 = $640,000

Condos/Townhomes: 1.9 percent DECREASE

April 2019 = $420,000

April 2018 = $425,000

TOTAL SOLD LISTINGS Comparing April 2019 to March 2019 (month over month)

Single-Family: 9.0 percent INCREASE

April 2019 = 1,940

March 2019 = 1,780

Condos/Townhomes: 6.8 percent INCREASE

April 2019 = 931

March 2019 = 872

TOTAL SOLD LISTINGS Comparing April 2019 to April 2018 (year over year)

Single-Family: 2.1 percent DECREASE

April 2019 = 1,940

April 2018 = 1,981

Condos/Townhomes:  12.1 percent DECREASE

April 2019 = 931

April 2018 = 1,059

Comments

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Not enough homes being built to keep up with the demand as usual, and that leads to higher prices. We see this year after year, with no apparent solution is sight. Meanwhile, the side effects create ever higher demand for apartment rentals, which directly causes increasing rent expenses. Supply and demand is what they say in the rental industry. Meanwhile the less fortunate on fixed incomes continue to worry, and struggle to pay their bills.