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HomeDex: August 2016

Closed sales began to cool for much of the country last month, and conventional wisdom indicates that year-over-year declines are going to be present for the remainder of the year, given the low inventory situation in most markets.

  • Closed Sales decreased 3.1 percent for Detached homes and 2.9 percent for Attached homes.
  • Pending Sales increased 21.8 percent for Detached homes and 14.0 percent for Attached homes.
  • The Median Sales Price was up 5.8 percent to $635,000 for Detached homes and 15.4 percent to $415,000 for Attached homes.
  • Days on Market decreased 11.1 percent for Detached homes and 16.7 percent for Attached homes.
  • Supply decreased 9.1 percent for Detached homes and 31.8 percent for Attached homes.

Sellers should feel confident enough to list homes at fair prices and receive meaningful offers in a healthy residential real estate and overall economic environment.

Information taken from HomeDex™. Copyright © 2016 by the North San Diego County Association of Realtors (NSDCAR). Used with permission.