San Diego 2-4 Units Qtr Report – 4th Quarter 2015

The 2015 San Diego 2-4 Units 4th Quarter Report (Oct 1 – Dec 31, 2015) consists of the following data/charts.

Third QUARTER 2015 VS Fourth QUARTER 2015 Prices

There was a price decrease in nearly every segment of the San Diego 2-4 units category. This is a contrast to the robust growth we’ve seen in every quarter this year.

This fourth quarter shows an overall reduction of price by 8 percent. Similarly, we saw a decrease in prices in the fourth quarter of 2014. Based on this similar fluctuation, it is probably to early to assume that the market has stopped its upward trend in prices.

 

Total 2014 VS. Total 2015 AVERAGE AND MEDIAN SALES PRICE

Although the fourth quarter dropped in price, the overall annual performance is still very strong in every category.


As a whole, San Diego 2-4 units showed an impressive increase in price with a 12.87% increase in median prices and 15.32% on average.

 

Q3 2015 VS. Q4 2015 DAYS ON MARKET (DOM)

It’s not unusual to see a mixed bag of DOM increases and decreases. Overall it appears that days-on-market have increased, and this is not very surprising considering the drop in prices for this quarter. 

As an average, the increase in DOM is small, but as a median it’s quite substantial. This will be an interesting statistic to monitor in the next quarter to see if homes continue to take longer to sell.

 

2014 Total DOM vs 2015 Total DOM

Triplexes seemed to take longer to sell this year, but overall properties continued to sell faster this year compared to last year.

As a whole, the days on market have decreased by 4% (median) and 12% (average) which still reveals that San Diego 2-4 units have sold faster in the 2015 year by a respectable amount.

 

CONCLUSION

This quarter we’ve seen prices drop and San Diego 2-4 units take longer to sell. It’s not considerably alarming because of the fact that 4th quarters have had a tendency to do this in the past. What will be interesting to see is if the first quarter of 2016 rebounds as it should. Comparing the 2015 statistics to 2016, we see that we’ve had another incredibly strong year with San Diego 2-4 units. We will continue to monitor the market and see how new factors in the economy will impact San Diego 2-4 units.

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

 

LAWRENCE DY