San Diego Home Sales, Prices Fall In September
Thursday, October 10, 2019
Photo by KPBS Staff
Countywide sales of previously owned single-family homes and attached properties both fell by nearly one-sixth from August to September, according to data released Thursday by the Greater San Diego Association of Realtors.
Single-family home sales fell 14.3% from 2,094 in August to 1,795 in September while attached-property sales fell even more, 16.5% from 1,061 in August to 886 in September. Sales of both have declined overall since reaching the year's high-water mark in May.
Median sales prices of both property types dipped from August to September, according to the GSDAR. Single-family home prices fell 2% from $656,029 in August to $643,000 in September while attached property prices fell 4.8% from $436,000 in August to $415,000 last month.
GSDAR President Kevin Burke suggested the housing market's fall is due in part to fewer houses being put on the market.
"Despite the turmoil on the political field, the housing fundamentals continue to show stability," Burke said. "There may be fewer homes popping up on the market, but the fall and winter months usually mean less competition -- good news for buyers."
Year-over-year sales numbers were up in September, according to the organization. Single-family home sales jumped 10.3% from 1,627 last September to 1,795 this September while attached-property sales increased 6.6% from 831 in September 2018 to 886 last month.
Sales prices fell year-over-year but to a lesser degree than they did month-over-month. Single-family home prices fell 0.6% from $647,000 in September 2018 to $643,000 last month and attached-property prices decreased 2.8% from $427,000 last September to $415,000 last month.
Real estate agents sold 53 single-family homes in eastern Rancho Bernardo last month, the most of any ZIP code in the county. Western Rancho Bernardo and northern Oceanside were the only other ZIP codes with 50 or more sold in the month.
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