San Diego Housing Market News and Analysis
April 2011 Resale Data Rodeo
Submitted by Rich Toscano on May 11, 2011 - 4:42pm
The median price per square foot of San Diego resale homes was somewhat mixed last month: up .2% for single family homes, but down 1.7% for condos, and down .3% in aggregate.
When in doubt, single family homes prevail due to their lower volatility... so we why don't we call this one flat for the month.
The plain vanilla median actually declined for both property types, but this was after a big rise in March.
The increase in the median price per square foot over the past few months makes for a slight tick up in the Case-Shiller proxy (this is mostly due to the big January decline falling out of the calculation):
Here are the price per square foot and CS proxy graphs aligned with calendar years:
Sales were down slightly from the prior month and up ever so slightly from a year ago:
Pendings were also down, and are right atop last year's levels:
Inventory continued its slow rise:
Months of inventory increased slightly, but at 4.9 months it was still near enough to a level that is conducive to price increases (or at least an absence of price declines):
Despite the gloomy headlines out there about the housing market (many of them based on lagging indicators), it appears that the San Diego market is hanging in there thus far in the spring season.
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|* Rich Toscano is a registered representative of and offers securities and investment advisory services through Girard Securities, Inc., a registered Broker/Dealer, Registered Investment Advisor, and member FINRA/SIPC. Pacific Capital Associates is not a subsidiary or affiliate of Girard Securities. The views and opinions expressed on this site are not those of Pacific Capital Associates or Girard Securities, Inc. The information on this site should not be construed as investment advice.|