June Housing Market Snapshot to be updated

Property Sales
June property sales were 217, up from 166 in June of 2020 and 10.2% higher than the 197 sales last month. June 2021 sales were at their highest level compared to June of 2020 and 2019. June YTD sales of 1,115 are running 42.6% ahead of last year’s year-to-date sales of 782.

Property Sales
June property sales were 217, up from 166 in June of 2020 and 10.2% higher than the 197 sales last month. June 2021 sales were at their highest level compared to June of 2020 and 2019. June YTD sales of 1,115 are running 42.6% ahead of last year’s year-to-date sales of 782

Prices
The median sales price in June was $714,335, up 26.5% from $564,641 in June of 2020 and up 6.3% from $672,000 last month. The average sales price in June was $752,196, up 15.1% from $653,744 in June of 2020 and up 0.1% from $751,630 last month. June 2021 ASP was at highest level compared to June of 2020 and 2019.

Inventory & MSI
The total inventory of properties available for sale as of June was 261, up 31.2% from 199 last month and down -17.7% from 317 in June of last year. June 2021 Inventory was at the lowest level compared to June of 2020 and 2019.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The June 2021 MSI of 1.2 months was at its lowest level compared with June of 2020 and 2019.

Market Time
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for June was 26, up from 23 days last month and down from 40 days in June of last year. The June 2021 DOM was at its lowest level compared with June of 2020 and 2019.

Selling Price Per Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The June 2021 selling price per square foot of $474 was up 3.5% from $458 last month and up 26.7% from $374 in June of last year.

Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The June 2021 selling price vs list price of 105.5% was up from 103.4% last month and up from 98.9% in June of last year.

Inventory / New Listings / Sales
This last view of the market combines monthly inventory of properties for sale along with new listings and sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of new listings in June 2021 was 251, up 7.7% from 233 last month and up 13.6% from 221 in June of last year.

San Diego County Residential Market Stats

Week of 6/27/21

  • New Listings (last 4 weeks)3,666
  • Homes for Sale3,308
  • Condos for Sale842
  • Detached for Sale2,271
  • Townhouse for Sale195
  • Median List Price$769,500
  • Median Sales Price$755,000
  • Median Sales Price Change2.027%
  • Price Changes1,704
  • Months of Inventory1.35
  • Contracts4,351
  • Sales3,462
  • Sales Change0.098%
  • Average Days on Market83

In San Diego County there are currently 3,308 homes for sale, of those 842 are condos, 2,271 are detached homes, and 195 are townhomes. The median list price is $769,500 and the median sales price is $755,000. There have been 3,666 new listings in the last 4 weeks and 3,462 sales.