San Diego Housing Market News and Analysis
September 2011 Resale Housing Data Rodeo
Submitted by Rich Toscano on October 19, 2011 - 5:45pm
The median price per square foot of San Diego resale homes was down .2% for single family homes, up .8 percent for attached homes, and up .2% in aggregate in September. Let's call it flat for the month:
The Case-Shiller proxy, which uses a 3-month rolling average, dropped a notch to its lowest level in over two years:
Here are calendar-aligned versions of the above two graphs to help account for seasonality:
Closed and pending sales were both down for the month, but both are mildly up from a year ago:
Inventory also dropped for the month, but is 11% below last year's level:
Months of inventory climbed to 5.3 months -- up from August but 16% below last year's level:
We'll have to watch to see if that months of inventory figure keeps creeping up, but for now, it's at a fairly neutral level that doesn't imply much in the way of big price swings in the near future.
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