The following charts are the 2013 THIRD Quarter Report for 2013 (July 1-September 30, 2013). They consist of 3 charts for all Duplexes, Triplexes, and Fourplexes sold in San Diego County.
SECOND QUARTER 2013 VS THIRD QUARTER 2013
This quarter’s growth from last quarter reveals a more modest increase in prices compared to last quarter. The drop in appreciation percentage is actually quite sizable. While last quarter’s results were uniformly all in strong double digits, this quarter is entirely in the single digits with one category even showing a depreciation. This depreciation is understandable considering the staggering 30.44% growth that it showed from Q1 to Q2. Overall, it will be interesting to see if more moderate growth will be the trend moving forward compared to the wild figures we’ve seen in the most recent quarter.
YEAR-TO-DATE (YTD) AVERAGE AND MEDIAN SALES PRICE
Although the 3rd quarter was more tame in its growth, the overall 2-4 unit market is still growing substantially when we look at the broad overall picture. The third quarter’s results are still very impressive.
DOM
Alongside the lower price increases illustrated in the Q3 price analysis, the third quarter also showed longer avg/median days on market. This tells us that San Diego Duplexes, Triplexes, and Fourplexes were not only slowing in price increases, but they were also taking longer to sell. Again, it will be interesting to see what quarter 4 results show. It may be too soon to assume that this is the future trend, although it would be believable and not necessarily bad for the market in general. As we’ve seen prior to the recession, continuous explosive growth can be dangerous for the long term health of the real estate market.
YTD DOM
This YTD graph shows that 2-4 units are still selling comparatively much faster than last year even though the quarter on its own shows longer days on market.
Conclusion:
Rates continue to be historically very low this quarter and it’s projected to remain that way in the 4th quarter. Prices continue to rise, but at a more moderate pace than in quarter 2. It’s still a substantial increase in all categories when compared year-to-date from last year. As mentioned above, it will be interesting to see if quarter 4 produces a more tame increase in values as well as longer days on market, or if we will see another explosive quarter.
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