The 2016 San Diego 2-4 Units 1st Quarter Report (Jan 1 – Mar 31, 2017) consists of the following data/charts.
First QUARTER 2017 VS FOURTH QUARTER 2016 PRICES
The overall data shows a nice 5% median growth from the previous quarter. Although the average price dropped by 2%, there may have been some outliers in the duplex data that dragged the average down. Median data seems to be more commonly referenced as well.
YTD 2016 VS. YTD 2017 AVERAGE AND MEDIAN SALES PRICE
The year-to-date price performance is positive comparing last year to this year showing both median and average growth in the 6% range. Although Q1 YTD is a smaller sample size to analyze year-over-year growth, it’s still a positive sign to see this moderate growth.
Q4 2016 VS. Q1 2017 DAYS ON MARKET (DOM)
Along with the 5% median growth in price from the previous quarter, San Diego 2-4 units sold substantially faster. This is a common trend for Q4 to Q1 DOM data and it’s a positive sign to see that 2017 is yielding these results so far.
2016 YTD DOM VS 2017 TOTAL DOM
Comparing the first quarter’s sales DOM vs the previous year shows that San Diego 2-4 units are still continuing to sell in less time. Triplexes appeared to take quite a bit longer, but as a category 2-4 units continued to sell considerably faster than the year before.
CONCLUSION
Despite all the dramatic changes in the political/social environment on a national level in the recent quarter, the San Diego 2-4 unit market remains solid. Prices are gradually increasing and selling at a faster rate. This is a positive sign considering all the uncertainty that buyers/investors have expressed since Q3/Q4 of last year and also considering the slight increase in interest rates.
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