Duplex-Triplex-Fourplex Second Quarter Report – 2013

The following charts are the 2013 SECOND Quarter Report for 2013 (Apr 1-Jun 30, 2013). They consist of 3 charts for all Duplexes, Triplexes, and Fourplexes sold in San Diego County.

YEAR-To-Date (YTD) AVERAGE AND MEDIAN SALES PRICE

The second quarter statistics for San Diego Duplexes, Triplexes, and Fourplexes continue to impress! Just like last quarter, the numbers are staggering. When measuring the sales price increase for the same period last year, results show that the median prices jumped as much as 39.25%.  See the chart below for all the figures.

 

 First Quarter 2013 vs Second Quarter 2013

In this quarter’s duplex, triplex, fourplex report, we decided to add a progress chart to show Quarter 1 price increases to Quarter 2 of this year. The figures reveal what most would expect, double digit increases across the board. We will be curious to see the Quarter 3 numbers and the interest rate’s impact on prices.

 

DAYS ON MARKET

The chart below indicates the numbers of days that duplexes/triplexes/fourplexes were on the market before selling. As you can imagine, these numbers are as staggering, if not more so, than the price increases. These numbers indicate that San Diego Duplexes, Triplexes, and Fourplexes sold in as much as 67.5% less time than the same amount of time in 2012! See chart below for full figures.

 What this means for Buyers and Sellers…

Very similarly to last quarter, the explosive incline in the market is no surprise. We expected the results to be overwhelmingly positive, and they were. The San Diego Duplex, Triplex, and Fourplex market continue to boom and we are seeing buyers willing to settle for income properties that produce a far less favorable Cap Rate than since the recession. For sellers, if you’ve been on the fence about selling, the right time for you might be in the near future. For buyers, it is still a favorable time to buy considering the historically low rates; however, be cautious not to get caught up in the frenzy that is going on right now. As with all investing, it’s important not to abandon the investment criteria that makes sense 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. Thanks!

 

Information gathered from Sandicor. As always, please note our disclaimer.

LAWRENCE DY