The 2016 San Diego 2-4 Units 4th Quarter Report (Oct 1 – Dec 31, 2016) consists of the following data/charts.
THIRD QUARTER 2016 VS FOURTH QUARTER 2016 PRICES
Surprisingly, the last quarter of 2016 showed a considerable increase in price from the previous quarter. This is interesting because the 4th quarter of the year typically tends to show a dip in price.
TOTAL 2015 VS. TOTAL 2016 AVERAGE AND MEDIAN SALES PRICE
As expected, the year over year results show a respectable increase in price. However, what is interesting is that fourplexes showed a dip in price. Although the 2-4 units segment as a whole performed well, we haven’t seen a dip in any units category in several years.
Q3 2016 VS. Q4 2016 DAYS ON MARKET (DOM)
This quarter we see that properties have taken considerably longer to sell than the previous quarter. This is a fairly common trend for the last quarter of the year however.
2015 TOTAL DOM VS 2016 TOTAL DOM
Although days on market were longer this quarter than the last quarter, year over year performance shows that properties are still selling considerably faster than the previous year.
CONCLUSION
Overall, this quarter performed better than expected in terms of price. And while 2016 still exhibited strong price increases compared to last year, it is a more modest increase than in previous years. Ultimately, 2016 was yet another strong year for San Diego 2-4 units and shows signs to continue being optimistic. However, there are numerous factors to monitor this coming year that can impact the market, positively or negatively: i.e. interest rates potentially rising further, new presidency, etc.
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