During the last month of 2016, the San Diego housing market showed signs of slowing down. For example, the number of homes for sale topped 5,000 while just under 4,000 homes had a pending sale on them. These figures not only represent a dip when compared to year-over-year figures from December 2015, the city also saw nearly 1,000 fewer homes on the market.
There were 5,279 attached and detached homes for sale in San Diego during December. During that same time period, 2,757 attached and 1,820 detached homes were actually sold. These numbers indicate that 207 fewer properties sold in December than November.
In December, properties spent an average of 37 days on the market for detached homes and 29 days for attached. These figures are either the same or lower than those in November as well as year-over-year numbers.
The median sales prices for a detached home was $562,750 and $374,000 for attached homes. Though these numbers represent a slight decrease from November's figures, they are still higher for San Diego home for sale when compared to the same statistic from December 2015.
In December, the interest rate climbed from 3.85% in November to 3.99%. This is also an increase in the year-over-year figure in December 2015 of 3.75%.
In summary, many of the statistics of San Diego real estate fell during December. This dip is expected for this time of the year and the city is still expected to continue on its upward trajectory within the housing market.
San Diego Real Estate Market Statistics for December 2016