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November Sales Slower, According to Statistics From the Greater San Diego Association of REALTORS(R)

Prices Steady Over the Previous Month

SAN DIEGO, CA -- (Marketwired) -- 12/10/13 -- Home sales in San Diego County slowed in November, according to the regional housing statistics from the Greater San Diego Association of REALTORS® (SDAR).

Sales of previously owned single-family homes were down 16 percent in November compared to the prior month, and 11 percent lower than a year ago. Condominium and townhome sales were 19 percent lower in November, compared to October, and nearly 10 percent lower than November 2012.

The median price of single-family homes sold in November was $469,000, virtually unchanged from October, and remaining nearly 15 percent higher than a year ago. Resale condos and townhomes in November saw a rise in the median price of almost 5 percent from October, and 19 percent higher than a year ago.

The number of all homes for sale declined to 6,500 from the year's high of nearly 7,000 earlier this fall, but well below the healthier average of 9,000 to 10,000. Homes on the market are spending an average of 50 days on the market, and are still moving 30 percent faster than in 2012.

"Sales activities are in line with past trends as we approach the holiday season," said SDAR President Linda Lee. "Overall, 2013 is shaping up to be a healthy recovery year for the San Diego housing market. I am optimistic for the continued recovery of the housing market in 2014."

In November, the zip codes with the most sales of single-family homes include: 92028/Fallbrook - 56; 92057/Oceanside - 48; 92127/Rancho Bernardo - 42; 92078/San Marcos - 40; 91913/Chula Vista - 39.

The most expensive San Diego County listing sold last month: A 3-bedroom, 4-bath, 3,750-square-foot home in La Jolla that sold for $11 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 November to October 2013

Single-Family: 1 percent DECREASE

November 2013 = $469,000

October 2013 = $475,000

Condos/Townhomes: 5 percent INCREASE

November 2013 = $310,000

October 2013 = $296,000

MEDIAN SALES PRICE Comparing November 2013 to November 2012

Single--Family: 15 percent INCREASE

November 2013 = $469,000

November 2012 = $408,000

Condos/Townhomes: 19 percent INCREASE

October 2013 = $310,000

October 2012 = $260,000

TOTAL SOLD LISTINGS Comparing November 2013 to October 2013

Single--Family: 16 percent DECREASE

November 2013 = 1,609

October 2013 = 1,906

Condos/Townhomes: 19 percent DECREASE

November 2013 = 761

October 2013 = 944

TOTAL SOLD LISTINGS Comparing November 2013 to November 2012

Single--family: 11 percent DECREASE

November 2013 = 1,609

November 2012 = 1,813

Condos/Townhomes: 10 percent DECREASE

November 2013 = 761

November 2012 = 842

With roughly 12,000 members, the Greater San Diego Association of REALTORS® is the largest trade association in the county. Our REALTORS® adhere to a code of ethics and professional standards above and beyond the norm. We help our members sell more homes. We help people realize the dream of home ownership. And we are dedicated to protecting private property rights. You can follow SDAR on Facebook, Twitter and YouTube.

Lauren Fimbres Wood
(619) 295-8232 ext. 122

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