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It’s taking about an extra month for that condo or detached home to sell this year compared to last year, the San Diego Association of Realtors reported today.
Looking at the stats until the end of September, attached homes – such as condos and townhouses – have been on the market for an average period of 68 days before selling. That’s an increase of about 36 days from the same year-to-date period in 2005.
And there’s no prettier picture on the detached market. Those homes, such as single-family houses, have been sitting on the market for an average of 65 days before selling, up about 28 days from last year.
On the attached market, the SDAR reported a 44.62 percent drop in total sales volume last month compared the September 2005. And the detached market saw a 37.48 percent drop in the same comparison. Both markets’ total sales volumes are down more than 20 percent from August.