September 13, 2021 Snapshot

market update statistics > Market Insights - California Real Estate Expert Robert Wolf - California Real Estate Expert Robert Wolf >

The active listing inventory shed 214 homes in the past two-weeks, down 7%, and now totals 2,907, its largest drop of the year. In August, there were 22% fewer homes that came on the market compared to the 3-year average between 2017 to 2019 (2020 was skewed do to COVID-19), 1,101 less. Last year, there were 4,225 homes on the market, 1,318 additional homes, or 45% more.

Demand, the number of pending sales over the prior month, decreased by 30 pending sales in the past two-weeks, down 1%, and now totals 3,345. Last year, there were 3,938 pending sales, 18% more than today, due to a delayed Spring Market.

The Expected Market Time for all of San Diego County decreased from 28 to 26 days in the past two weeks, a Hot Seller’s Market (less than 60 days). It was at 32 days last year, similar to today.

For homes priced below $750,000, the market is a Hot Seller’s Market (less than 60-days) with an Expected Market Time of 21 days. This range represents 42% of the active inventory and 52% of demand.

For homes priced between $750,000 and $1 million, the Expected Market Time is 24 days, a Hot Seller’s Market. This range represents 22% of the active inventory and 24% of demand.

For homes priced between $1 million to $1.25 million, the Expected Market Time is 28 days, a Hot Seller’s Market. This range represents 7% of the active inventory and 7% of demand.

For luxury homes priced between $1.25 million and $1.5 million, in the past two-weeks, the Expected Market Time decreased from 32 to 27 days. For homes priced between $1.5 million and $2 million, the Expected Market Time decreased from 38 to 34 days. For homes priced between $2 million and $4 million, the Expected Market Time decreased from 51 to 45 days. For homes priced above $4 million, the Expected Market Time increased from 162 to 169 days.

The luxury end, all homes above $1.25 million, accounts for 29% of the inventory and only 17% of demand.

Distressed homes, both short sales and foreclosures combined, made up only 0.6% of all listings and 0.2% of demand. There are only 12 foreclosures and 4 short sales available to purchase today in all of San Diego County, 16 total distressed homes on the active market, up 3 in the past two-weeks. Last year there were 13 total distressed homes on the market, similar to today.

There were 3,732 closed residential resales in July, 2% less than July 2020’s 3,803 closed sales. July marked a 5% decrease from June 2021. The sales to list price ratio was 102.4% for all of San Diego County. Foreclosures accounted for just 0.4% of all closed sales, and short sales accounted for 0.1%. That means that 99.5% of all sales were good ol’ fashioned sellers with equity.

August 31, 2021 Snapshot

august 31 market update > Market Insights - California Real Estate Expert Robert Wolf - California Real Estate Expert Robert Wolf >

The active listing inventory shed 59 homes in the past two-weeks, down 2%, and now totals 3,121. In July, there were 7% fewer homes that came on the market compared to the 3-year average between 2017 to 2019 (2020 was skewed do to COVID-19), 324 less. Last year, there were 4,228 homes on the market, 1,107 additional homes, or 35% more.The active listing inventory shed 59 homes in the past two-weeks, down 2%, and now totals 3,121. In July, there were 7% fewer homes that came on the market compared to the 3-year average between 2017 to 2019 (2020 was skewed do to COVID-19), 324 less. Last year, there were 4,228 homes on the market, 1,107 additional homes, or 35% more.

Read more: August 31, 2021 Snapshot

August 1, 2021 Snapshot

august 1 market update > Market Insights - California Real Estate Expert Robert Wolf - California Real Estate Expert Robert Wolf >

The active listing inventory added 113 homes in the past two-weeks, up 4%, and now totals 3,172, its highest level of the year. In June, there were 14% fewer homes that came on the market compared to the 5-year average between 2015 to 2019 (2020 was skewed do to COVID-19), 714 less. Last year, there were 4,397 homes on the market, 1,225 additional homes, or 39% more.

Demand, the number of pending sales over the prior month, decreased by 49 pending sales in the past two-weeks, down 1%, and now totals 3,374. Last year, there were 3,870 pending sales, 15% more than today, due to a delayed Spring Market.Demand, the number of pending sales over the prior month, decreased by 49 pending sales in the past two-weeks, down 1%, and now totals 3,374. Last year, there were 3,870 pending sales, 15% more than today, due to a delayed Spring Market.

Read more: August 1, 2021 Snapshot

August 15, 2021 Snapshot

San Diego County Housing Summary > Market Insights - California Real Estate Expert Robert Wolf - California Real Estate Expert Robert Wolf >

The active listing inventory added 8 homes in the past two-weeks, nearly unchanged, and now totals 3,180, its highest level of the year. In July, there were 7% fewer homes that came on the market compared to the 3-year average between 2017 to 2019 (2020 was skewed do to COVID-19), 363 less. Last year, there were 4,180 homes on the market, 1,000 additional homes, or 126% more.

Read more: August 15, 2021 Snapshot

July 15, 2021 Snapshot

jul15mkt > Market Insights - California Real Estate Expert Robert Wolf - California Real Estate Expert Robert Wolf >

The active listing inventory added 212 homes in the past two-weeks, up 7%, and now totals 3,059, its highest level of the year. In June, there were 15% fewer homes that came on the market compared to 5-year average between 2015 to 2019 (2020 was skewed do to COVID-19), 791 less. Last year, there were 4,577 homes on the market, 1,518 additional homes, or 50% more.

Demand, the number of pending sales over the prior month, decreased by 35 pending sales in the past twoweeks, down 1%, and now totals 3,423. Mortgage rates remain at historically low levels, maintaining demand’s current brisk pace. Last year, there were 3,625 pending sales, 6% more than today. It was just the second time the prior year was higher than the current year dating back to June 2020.

Read more: July 15, 2021 Snapshot

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