| Trends at a Glance | |||
| (Single-family Homes) | |||
| Apr 08 | Mar 08 | Apr 07 | |
| Median Price: | $439,000 | $440,000 | $581,317 |
| Average Price: | $586,293 | $632,243 | $747,276 |
| Home Sales: | 1,506 | 1,085 | 1,588 |
| Sale/List Price Ratio: | 94.4% | 93.1% | 95.9% |
| Days on Market: | 74 | 82 | 72 |
| (Condos/Town Homes) | |||
| Median Price: | $291,000 | $295,000 | $365,000 |
| Average Price: | $356,995 | $361,570 | $432,583 |
| Home Sales: | 733 | 563 | 948 |
| Sale/List Price Ratio: | 94.8% | 94.5% | 96.1% |
| Days on Market: | 73 | 87 | 68 |
In April, sales of single-family, re-sale homes rose 38.8% from March, and were down 5.2% compared to April 2007. This is the first month since August 2007 that home sales have been off by single-digits. In the previous seven months, home sales have been off by between 17% and 34% year-over-year. Of course, many of the homes being sold are bank-owned. This is reflected in the prices.
The median price for single-family, re-sale homes in San Diego County fell 0.2% from March, and was off 24.5% year-over-year. The average price for homes fell 7.3% from March, off 21.5% year-over-year.
Condo sales gained 30.2%, month-over-month, down 22.7% compared to last April.
The median price for condos fell 1.4% from March, off 20.3% year-over-year. The average price for condos dropped 1.3% month-over-month, down 17.5% compared to last April.
Remember, these are statistical prices. When the market was going up, the large number of million dollar plus sales skewed prices upward. With the large number of bank-owned properties going through the system, prices are being skewed downward.
The sales price to list price for single-family homes rose 1.3 points to 94.4%. The ratio for condos gained 0.3 of a point to 94.8%.
Days on market for homes fell eight days to 74 days. Days on market for condos dropped 14 to 73 days. Take these numbers with a grain of salt. If a property listing is canceled, withdrawn or expired and then re-listed, days on market is re-set to zero.
The following chart shows new listings and sales since 2000. Click on the chart to enlarge it, then click your BACK button to return to this page.
The real estate market is very hard to generalize. It is a market made up of many micro markets. As Leslie Appleton-Young, chief economist for the California Association of Realtors, recently said, "Knowing the median price is interesting, but it is as indicative of the value of your home as knowing the median temperature in America is to predicting the local weather." For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If you need assistance devising a strategy, call or click the buying or selling link in the menu to the left.
Complete monthly sales statistics for the East San Diego County Inland area are below. Monthly charts are available for each city in the menu to the left.
| April Sales Statistics | |||||||||||
| (Single-family Homes) | |||||||||||
| Prices | Unit | Change from last year | Change last month | ||||||||
| Average | Median | Sales | DOM | SP/LP | Ave. | Med. | Sales | Ave. | Med. | Sales | |
| County | $586,293 | $439,000 | 1,506 | 74 | 94.4% | -21.5% | -24.5% | -5.2% | -7.3% | -0.2% | 38.8% |
| East County | $390,172 | $355,000 | 205 | 86 | 95.0% | -28.0% | -27.6% | -19.0% | -9.6% | -6.6% | 24.2% |
| Alpine | $451,500 | $425,000 | 11 | 131 | 94.2% | -27.9% | -28.7% | -15.4% | -20.7% | -17.2% | -21.4% |
| El Cajon | $421,463 | $372,000 | 55 | 88 | 94.5% | -27.5% | -30.5% | -31.3% | -9.4% | -3.4% | 0.0% |
| Jamul | $509,200 | $509,200 | 2 | 24 | 91.8% | -47.9% | -43.9% | -75.0% | -31.5% | -31.1% | -66.7% |
| La Mesa | $455,845 | $429,900 | 33 | 95 | 94.5% | -17.2% | -13.2% | -32.7% | -2.9% | 2.2% | 50.0% |
| Lakeside | $395,745 | $382,000 | 19 | 80 | 94.0% | -23.3% | -27.2% | 11.8% | 4.3% | -5.1% | 137.5% |
| Lemon Grove | $306,300 | $297,000 | 10 | 73 | 100.4% | -27.6% | -29.3% | -37.5% | -0.4% | -8.6% | 42.9% |
| Santee | $387,726 | $394,950 | 24 | 82 | 96.1% | -16.3% | -11.4% | 0.0% | -0.7% | 2.6% | 33.3% |
| Spring Valley | $317,740 | $300,000 | 40 | 74 | 96.4% | -33.9% | -37.5% | 5.3% | -0.2% | -7.6% | 42.9% |
| April Sales Statistics | |||||||||||
| (Condominiums/Townhomes) | |||||||||||
| Prices | Unit | Change from last year | Change last month | ||||||||
| Average | Median | Sales | DOM | SP/LP | Ave. | Med. | Sales | Ave. | Med. | Sales | |
| County | $356,995 | $291,000 | 733 | 73 | 94.8% | -17.5% | -20.3% | -22.7% | -1.3% | -1.4% | 30.2% |
| East County | $189,609 | $180,000 | 48 | 70 | 96.2% | -34.6% | -36.2% | -50.5% | -4.5% | 0.0% | -20.0% |
| El Cajon | $182,659 | $166,250 | 12 | 62 | 96.5% | -35.5% | -38.4% | -72.7% | -2.1% | -5.0% | -47.8% |
| La Mesa | $257,475 | $232,500 | 4 | 61 | 95.0% | -9.9% | -12.2% | -60.0% | 8.5% | 14.8% | 0.0% |
| Lakeside | $118,700 | $127,000 | 5 | 47 | 94.2% | -47.9% | -44.8% | 0.0% | -2.9% | -5.9% | 0.0% |
| Santee | $207,077 | $220,000 | 13 | 76 | 98.3% | -30.2% | -23.1% | -23.5% | -13.5% | 15.8% | 30.0% |
| Spring Valley | $160,967 | $151,000 | 6 | 37 | 97.1% | -46.2% | -49.7% | -33.3% | -11.1% | -12.0% | -40.0% |
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