San Diego Real Estate Market Mid Year Review 2018 Vs 2019

Dated: 07/22/2019

Views: 116

Hi there!


Have you noticed what's been going on in the local residential real estate market? What have you heard in the news, from friends, from your lender or from Realtors?

Take a look at these graphs and see for yourself! These numbers are pulled directly out of San Diego's Multiple Listing Service, Sandicor. 

You can compare what happened with listings in San Diego County between January 1st and June 30th in 2018 and the same time frame in 2019.   


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As you can see on the above graphs, last year there were 1,044 more homes sold in the first half of the year (174 per month). This year, homes are on the market an average of 7 days longer.

Also, this year there's been 2,135 more listings that have not sold (356 per month) for one reason or another. Keep in mind, a lot of times homes are "re-listed" and end up selling the second or third time they're on the market, usually in conjunction with a price reduction.


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This year, the average listed and sold price is about 20% higher than last year's! The median is about 12% higher in 2019 as well.
Interestingly though, the listed and sold price per square foot is about 8.5% lower in the first semester of 2019 than in the first semester of 2018.


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As you can see, about 60% of the Active Listings are Under Contract. And about 40% of the Active Listings have gone Under Contract in the last 30 days.
So what are your thoughts on this? I would love to hear your feedback!
I believe the San Diego real estate market is still going strong. The numbers continue to show a big demand resulting in higher home prices! However, this in return seems to be affecting the total number of homes sold and the listings' time on the market.
Less homes are being sold and listings are selling a bit slower. It's getting harder for buyers to afford a home in beautiful San Diego!!
Do you think prices will continue to rise? If you're not sure but you know you can qualify to buy a home now, this might be the last chance before you get priced out of the market.
In any case, I would happy to help answer any of your questions. 

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