Mortgage rates are on the rise. When this happens, it means that buyers in the lowerpriced categories tend to have the dilemma of choosing to pay more for their desired home, paying less to get less, waiting for more listings or saving more money toward a downpayment. For the 12-month period spanning March 2017 through February 2018, Pending Sales in San Diego County were down 3.0 percent overall. The price range with the largest gain in sales was the $1,000,001 to $1,250,000 range, where they increased 16.6 percent.
The overall Median Sales Price was up 8.0 percent to $540,000. The property type with the largest price gain was the Single-Family Homes segment, where prices increased 8.2 percent to $608,000. The price range that tended to sell the quickest was the $250,001 to $500,000 range at 24 days; the price range that tended to sell the slowest was the $1,250,001 or More range at 59 days.
Market-wide, inventory levels were down 10.4 percent. The property type that lost the least inventory was the Condos – Townhomes segment, where it decreased 4.8 percent. That amounts to 1.7 months supply for Single-Family Homes and 1.3 months supply for Condos – Townhomes.