San Diego 2-4 Units Qtr Report – 1st Quarter 2016

The 2016 San Diego 2-4 Units 1st Quarter Report (Jan 1 – Mar 31, 2016) consists of the following data/charts.

Fourth Quarter 2015 VS First QUARTER 2016 PRICES

The entire category experienced a nice rebound in price increases since the previous quarter. This is fairly consistent with first quarters of the year since 4th quarters have had a tendency to be lower performing quarters.

You’ll notice the overall price increases were an impressive 16% median and 14% average. The fourth quarter of 2015 was the weakest quarter of the 2015 year. This strong first quarter of 2016 is a positive sign for the San Diego 2-4 units segment.

YTD 2015 VS. YTD 2016 AVERAGE AND MEDIAN SALES PRICE

Interestingly, fourplexes showed signs of price decreases when comparing the first quarter of 2015 vs first quarter of 2016. For the past several years, all segments have exhibited strong growth when comparing YTD statistics so it’s interesting to see this minor decrease. Overall, the 2-4 unit segment prices have had an impressive price increase though.


The YTD increases shown below are impressive. You’ll see that the first quarter of this year experienced 18.52% (median) and 13.95% (average) higher prices than the same quarter last year.

 

Q4 2015 VS. Q1 2016 DAYS ON MARKET (DOM)

Along with surging prices this quarter, properties also selling much faster than the fourth quarter of 2015.

You can see below that as a category, there was a significant reduction in DOM percentages.

 

2015 YTD DOM VS 2016 YTD DOM

Comparing the first quarter of 2015 to this quarter shows a substantial reduction in days-on-market (DOM). This is consistent with the year over year improvements we’ve seen in recent years.

 

CONCLUSION

It’s a positive sign that prices have increased and properties have sold at a faster rate in the first quarter of 2016. Overall, this quarter rebounded as has been the trend for first quarters in recent years. Rates are still at historic lows and inventory is consistently at a low level. The general expectation is that the 2nd quarter will perform strongly as well.

For further discussion or help with your next 2-4 unit purchase or sale, please don’t hesitate to call!

Call (858) 449-1253 or email Lawrence@DuplexSanDiego.com

LAWRENCE DY