The 2015 San Diego 2-4 Units Quarter Report (April 1 – June 30, 2015) consists of the following data/charts.

SECOND QUARTER 2015 VS FIRST QUARTER 2015

Prices continue to rise in this quarter and the growth is fairly strong.

Collectively, the price increase is strong for just one quarter.

 

YTD 2014 VS. YTD 2015 AVERAGE AND MEDIAN SALES PRICE

Year to date, the price increase is staggering yet again.

 

Q2 2015 VS. Q1 2015 DAYS ON MARKET (DOM)

The days on market is probably the most staggering statistic for this quarter. The stats show that properties have been selling at a much faster rate. As a daily practitioner, it feels like properties are selling incredibly quick and to see these figures validates that feeling. The solid properties are essentially selling immediately upon hitting the market.

There is an evident disparity between median and average days on market. I believe this reflects the fact that the sound properties are selling immediately, while there are others that are overpriced that just sit on the market for prolonged periods. It’s important as a seller to be realistic about pricing despite the fact that the market is incredibly strong right now.

 

CONCLUSION

Overallm the second quarter was incredibly strong. Not just from a price increase standpoint, but more impressively by a days on market perspective. Buyers are quick to identify what they want and act on it. For buyers interested in buying right now, it’s critical to be decisive because properties are selling quickly.  For further discussion or help with your next 2-4 unit purchase or sale, please don’t hesitate to call!

 

LAWRENCE DY