San Diego Real Estate Market Trends

San Diego Real Estate Prices Up, Sales Down in 2013

San Diego Real Estate Market Trends Jan Feb 2014San Diego County home prices rose sharply last year. The median price for single-family, re-sale homes gained 18.9%, much of this was due to investors sweeping the lowest priced homes off the market for the past two year. The average price gained a healthy 17.6%. Condominiums joined the party also. The median price for re-sale condos was up 27.7%, while the average price rose 22.8%.

Last month it was “only” 13.8%. We expect this trend to continue this year. The surge in prices over the past year and a half has driven most home owners back above water.

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San Diego Real Estate
Home sales fell 1.2%, but at 26,780 units sold was the second highest since the market started peaking in 2004. We expect sales and prices to stabilize in 2014. After peaking at 24.6% in July, the year-over-year median price change has been steadily dropping.