The 2014 San Diego Duplex-Triplex-Fourplex Fourth Quarter Report (October 1 – December 31, 2014) consists of the following data/charts. Also included is a a comparison of 2014 vs 2013 stats of Duplexes, Triplexes, and Fourplexes sold in San Diego County.
FOURTH QUARTER 2014 VS THIRD QUARTER 2014
Prices this quarter have revealed an interesting drop in prices almost entirely across the board, especially in the median prices where we typically focus our attention. It’s too quick to assume that declining median prices will be a continuing trend into 2015, but it will be an interesting focal point moving forward.
YTD 2013 VS. YTD 2014 AVERAGE AND MEDIAN SALES PRICE
Although the 4th quarter exhibited a drop in value from Quarter 3, the annual comparison between 2013 and 2014 still shows solid growth. The annual prices still show a respectable increase in sold prices, although the increase is substantially less than the staggering numbers we saw from last year.
Q4 2014 VS. Q3 2014 DAYS ON MARKET (DOM)
Similar to last quarter’s results, San Diego 2-4 units are continuing to take longer to sell. This should be another interesting statistic to observe in 2015, especially if it continues to trend in this direction.
YTD DOM 2013 VS. 2014 YTD DOM
In contrast to last year’s DOM statistics, this year we see a mixed bag of results. It still appears that San Diego 2-4 units are still generally selling faster, but the last two quarters of 2014 indicate that San Diego 2-4 units are starting to take longer to sell. It will be interesting to see if they continue to take longer to sell in 2015.
It’s obvious from the numbers below that the quantity of San Diego duplexes, triplexes, and fourplexes that have sold in an annual period have dropped dramatically. This isn’t necessarily an alarming statistic, but it’s also an interesting factor to consider when evaluating the overall health and future of the market.
Overall, it was another positive year for San Diego 2-4 units; however, the 2014 results are much more moderate than the robust growth we’ve witnessed in the past 2 years. The combination of longer selling times, reduced transaction activity, and calmer price increases, indicate that the market is in transition. Whether this is a short term occurrence or a long term trend is yet to be seen. We’ll continue to monitor the quarterly results and keep you posted on market activity. It will be very interesting to see if the early portion of 2015 continues the statistical trend of Quarter 3 and Quarter 4 of 2014.
For further discussion or help with your next 2-4 unit purchase, please don’t hesitate to call!
Dycor Realty, Inc.
11440 W. Bernardo Court, #300
San Diego, CA 92127
DRE Lic# 01749497
Cell: (858) 449-1253
Fax: (858) 451-2588
Information gathered from Sandicor. As always, please note our disclaimer.