Although San Diego County has seen a few months of slowing real estate transactions, recent market research carries good news for buyers, sellers, and real estate professionals alike. In a press release from earlier this month, the Greater San Diego Association of Realtors found a significant increase in home purchase prices for December 2015.
Although current statistics have already shown a low inventory of homes for sale in 2016, SDAR reports that the increase indicates a healthy housing market. The full report can be viewed here; below are the most relevant highlights for homeowners and prospective buyers in Encinitas and the surrounding San Diego County area:
- The median price of previously owned homes in San Diego County rose 6% during 2015, compared with 9% in 2014 and 20% in 2013
- $539,000: Median sales price for single-family homes in 2015, an increase of 7% compared to 2014
- $360,000: Median sales price for condominiums and townhomes in 2015, an increase of about 10% compared to 2014
- Homes sold in San Diego County in 2015 were on the market for an average of 40 days
- There were 16% more closings on properties in December 2015 (a total of 1,715 houses) as compared to November 2015