According to the latest data released by the San Diego Association of REALTORS® for November 2018, the San Diego real estate market is experiencing a momentum slow down on sales volume but could be poised for massive acceleration in 2019. Prices continue to rise ↑ despite the sales reduction.
The Bottom line:
November showed a 16.2% drop in sales from last year while our median sales price still increased by 1%. The most interesting statistic it that we now have over 37% more homes listed this November as compared to last year.
Let’s take a look at the November 2018 real estate market for San Diego:
November 2018 San Diego Real Estate Statistics
- New Listings: 3,390 (Up +9.4% from last year)
- Sold Listings: 2,275 (Down -16.2% from last year),
- Total Active Listings: 7,306 (Up +37.7% from last year)
- Median Sales Price: $555,000 (Up +0.9% from last year), Chart Below ↓
- List To Sold Price Ratio: 97.3% (Down -0.1% from last year)
- Days on the Market: 33 Days (Up +10% from last year)
San Diego’s Real Estate Market Is Shifting.
We’ve had a reduction in the sheer number of sales in the San Diego County area for the last 12 months, but prices haven’t stop increasing. We’re in an unusual market. It’s a critical time to choose a great REALTOR to work with and there are some really good ones in San Diego. They’ll help you safely navigate this crazy real estate market to find your next home.
If you have any questions about buying or selling a home, please let us know. We’re here to help whenever you need us. You can CLICK HERE to meet our REALTOR®.
These statistics and numbers encompass all of San Diego County and the surrounding areas, including Downtown San Diego, North Park, Normal Heights, Mission Hills / Hillcrest, Del Mar, Pacific Beach, Clairemont, Ocean Beach, La Jolla, Point Loma, and Mission Valley. If you need a local Realtor to help you better understand these numbers, please contact us. We’d love to hear from you!