San Diego County Median Home Price Analysis

The below post was taken from Dennis Kaiser's Blog, San Deigo's Real Estate Library, (http://www.realestatelibrary.com/blog/2007/02/median-home-price-ticks-up.html). He is an excellent Realtor and if you choose to sell your house with a Realtor, you would be well served to contact him.

If listing your house with a Realtor does not meet your needs and you would like to receive an instant offer on your house, go to www.SDHomeSaver.com or email me directly at SDHomeSaver@gmail.com. Remember, I don't list homes, I buy them. I work hard to understand your unique situation and create an offer that meets your needs, and solves your situation. Best of luck and I look forward to hearing from you.

The median price for re-sale single-family homes in San Diego County started the year with a gain of 0.9%. Year-over-year, the median price was off 4.1%. This is the seventh month in a row year-over-year prices have declined. The median price is now 6.4% below the high of $598,000 reached in November 2005.


Home sales fell 27.5% from December. Year-over-year, sales were down 10.6%. January had the least amount of sales since we've been keeping track: January 1998. We expect sales to pick up as the spring and summer selling seasons arrive.

The median price for condos rose 1.7% to $357,000, month-over-month, off 7.8% compared to last January. The median price is now 8.9% below the high of $392,000 set in November 2005. On a positive note, condo sales were up 3.4% year-over-year. This is the first time condo sales have been higher than the year before since June 2005.

The sales price to list price for single-family homes fell 0.6 of a point to 94.4%. The ratio for condos dropped 0.6 of a point to 94.6%.

Days on market rose six to 79 days. This is the highest it has been since we've been keeping records: January 1998.

My advice? For buyers, there's plenty of inventory. Some sellers are willing to make deals, witness the sales price to list price ratio of 94.4% compared to the average since January 1998 of 96.3%. To find a seller willing to negotiate, you have to make offers.

For sellers, three words: price it right.

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.