Realtors expect a rise in sales after January housing report
SAN DIEGO (KUSI) – The San Diego Association of Realtors Thursday reported another mixed bag of results for the area’s real estate market in January.
The 1,269 single-family homes that changed hands last month was down 26 percent when compared to December.
The median sales price was $532,000, 1 percent lower. For condominiums and townhomes, 639 were sold, 30 percent fewer than December. The median sales price of $355,000 was also down 1 percent.
After several months of declines last fall, December saw a spike in sales, making it difficult for the real estate market to keep up in January.
"We experienced a typical seasonal ebb in January sales,” said SDAR 2016 President Cory Shepard. "Many buyers and sellers try to close transactions before the end of the year. I expect we will see a gradual rise in sales as we head toward spring.”
On an annual basis, January’s sales total was down just 4 percent for houses and was unchanged for condos, compared to the same period in 2015. The median sales price for houses was 8 percent higher compared to January 2015, and for condos, 9 percent more.
The most expensive listing sold in the county in January was a three- bedroom, three-bath, 1,660-square-foot home on the coast in Del Mar, built in 1986, with a sale price of $13 million, according to the SDAR.