Duplex-Triplex-Fourplex First Quarter Report – 2013

The following charts are the 2013 First Quarter Report for 2013 (Jan 1-Mar 31, 2013). They consist of 3 charts for all Duplexes, Triplexes, and Fourplexes sold in San Diego County.

Average and Median Sales Price

The results of this study are staggering! Pay closer attention to the median stats as they are generally a better gauge of the market. You can see the substantial increase in values from the 2012 quarter of San Diego County Duplex, Triplex, and Fourplex sales prices. San Diego Duplex median prices experienced the most impressive jump at 40%! These stats are more than numbers on a chart. We’re seeing first hand these properties are selling incredibly fast and often above list price and/or with cash buyers.

 

Days on Market

Along with soaring prices, San Diego Duplexes, Triplexes, and Fourplexes are also selling with impressive speed. Again, looking at the median data, the days on market fell as much as 66.67%! This means that San Diego Fourplexes sold in one third of the time that they did compared to last year’s first quarter.

 

List Price to Sales Price Ratio

As expected, these numbers showed an increase as well. You can even see the San Diego Triplex median percentage is at 100%. The reality is that a large portion of 2-4 units are selling almost immediately and for over list price. Multiple offers are a common situation for listings in today’s San Diego Duplex, Triplex, Fourplex market.

 

What this means for Buyers…

If you are looking to buy a San Diego County Duplex, Triplex, Fourplex, evidence is showing the sooner you buy, the better. Current signs indicate prices will continue to progressively rise. However, don’t let the frenzy in the market make you abandon good investing principles. If all this explosive growth intimidates you, don’t worry, we can help you navigate through this market to get the right deal for you.

What this means for Sellers…

If you are looking to sell, there hasn’t been a better time in years. However, with all this positive data, we know it can be challenging deciding when is the ideal time to list your property in order to maximize your profits. Many sellers are choosing to wait and see how the market continues to improve while others are taking action now. Should you wait? Should you list now? Call us today so we can guide you to make the right decision for you.

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.

 

Information gathered from Sandicor. Information is deemed reliable but not guaranteed. 

LAWRENCE DY