The Year End Report for 2013 (October 1-December 31, 2013) consists of the following data/charts. Also included is a a comparison of 2013 vs 2012 stats of Duplexes, Triplexes, and Fourplexes sold in San Diego County.
FOURTH QUARTER 2013 VS THIRD QUARTER 2013
Is this the top of the market? The fourth quarter numbers are very intriguing as they show that the exponential growth we’ve been witnessing may finally be peaking and in some instances tapering off. The numbers show a mix of modest increases as well as decreases in median/average prices throughout the San Diego Duplex, Triplex, Fourplex market.
2012 vs. 2013 Total AVERAGE AND MEDIAN SALES PRICE
Although the 4rd quarter may indicate that we’ve reached the peak, the overall aggregate growth in the market from 2012 to 2013 is staggering. With such substantial growth, it’s no surprise that the fourth quarter’s growth shows slowing.
Q3 vs. Q4 Days on Market (DOM)
The difference in DOM from Q3 to Q4 isn’t anything staggering like last quarter’s comparison to Q2. It’s a bit of a mixed bag and the numbers aren’t really dramatic. This stagnation in DOM could be another indication that the fourth quarter of 2013 may be the peak or at least a stagnant point for the San Diego Duplex, Triplex, Fourplex market.
Total 2012 vs. 2013 DOM
As you may expect, when we compare the Days on Market for 2012 vs. 2013, there is a significant drop which indicates that they are selling at a remarkably faster rate (far fewer days on market). This is a typical to see with surging prices.
Conclusion:
We are often asked about the future of the market and what is next to come. This recent analysis is very intriguing and may be interpreted as the end of the price surge we’ve been witnessing the past few years. We feel like it is unlikely that another surge in the market will occur in the immediate future; however, it will be interesting to see how the first quarter of 2014 fares. Will it be further leveling in prices, decline, or modest increases? If you’d like to discuss this in further detail, please feel free to give us a call. Regardless, if you have specific real estate investment goals in mind, you will need proper consultation in order to navigate through these uncertainties.
Sellers: As an investor looking to sell, these statistics may be encouragement to list your property soon and test the market. Call us so we can discuss how your property specifically may fare in today’s market.
Buyers: For those investors entertaining the idea of a future purchase, there absolutely are still good deals on the market, but there are an overwhelming amount of overpriced properties as well. It’s important to really evaluate your investment goals and make sure your next purchase aligns with these goals. Give us a call and we can help you through this process.
We hope you found these San Diego County duplex, triplex, and fourplex reports helpful. For further discussion of market activity or help with the purchase or sale of your property, please don’t hesitate to get in touch. Thanks!
Information gathered from Sandicor. As always, please note our disclaimer.LAWRENCE DY
Broker Associate
Dycor Realty, Inc.
11440 W. Bernardo Court, #300
San Diego, CA 92127
DRE Lic# 01749497
Cell: (858) 449-1253
Fax: (858) 451-2588
Lawrence@DuplexSanDiego.com