The San Diego County Real Estate Market Trends Report

Market Overview

	San Diego County Prices Continue Rising in May
The median price for single-family, re-sale homes gained 1.5% from April, but was off 21.2% compared to last May. The average price rose 3.6% month-over-month, but was off 23.7% year-over-year. Sales of single-family, re-sale homes were up 5.9% year-over-year. This is the thirteenth month in a row home sales have been higher than the year before. Year-to-date, home sales are up 30.6%. Inventory was also up in May by 4% from April, but was down 0.3% year-over-year. Pending sales continue to be positive with the number of properties under contract rising 5.5% from April and up 133.2% year-over-year. Condo sales were up 1% compared to last May. The median price for condos rose 11.6% from April, but was off 28.5% year-over-year. Condo inventory was up 3.5% from April, and up 5% year-over-year. Pending sales were up 7.9% month-over-month, and up 152.7% compared to May 2008. The sales price to list price ratio rose 0.5 of a point to 98.7%. The sales price to list price ratio for condos was down 0.1 of a point to 98.2%. Days on market for homes fell four to 71 days. Days on market for condos gained one to 77 days. The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.