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Real Estate @ A Glance: May 2016 Edition

May 11, 2016

 

 

 

Here is the most recent information on the San Diego housing market. For specific information on your neighborhood or a market analysis on your home, please send me an email or call me at 619-888-2117.

Reportable Period :: APRIL 2016:: SAN DIEGO ASSOCIATION OF REALTORS®

The housing market is being predictable, and that’s a good thing. At the beginning of the year, it was anticipated that the prevailing trends of the past year would continue into and through 2016, and that has largely been the case. The number of homes for sale has generally remained lower compared to a year ago, and prices have been steadily rising in desirable communities where homes show well.

There have been no striking changes to curtail what should be a decent run of home sales over the next several months. Mortgage rates have remained stubbornly and wonderfully low, the unemployment rate has remained at or near 5.0 percent for eight straight months and wages have increased for a great many people. New construction has been slow, and that may be a damper on sales, but the general outlook remains strong.


Median Sales Price: $502,200
Days on the Market Until Sale: 30
Housing Affordability Index: 2016-Q1: 28%
Months Supply: 2.1

Total Market Overview - April

 

To view larger image, click here.

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