The Morning Report
San Diego news and info
you need to take on the day.
The stats from the San Diego Association of Realtors came in today, showing a 26 percent drop in the total number of resale sold listings between 2005 and 2006. The drop was worse on the condo/townhome side, at 28.6 percent, but was still a 24.8 percent drop for detached, single-family homes.
All told, the drop meant $6 billion less in total sales volume for the Realtors, compared to 2005.
Less dramatic was the price change. The median price for a condo/townhome was down about 3 percent from the year previous, at $368,109. And the median for a detached home was up slightly year-over-year, 0.17 percent, at $575,000.
It was the year of patience for home sellers — they waited an average of 18 more days, 70, than they did in 2005 for condos or townhomes to sell. Sellers of detached homes added two weeks and a day, ending up at an average of 67 days on the market.
I got some ZIP code-specific data, too. I’ll share some highlights tomorrow.