COVID-19 Mid-April Real Estate Market Update
COVID-19 Mid-April Real Estate Market UpdateApril 17th, 2020
We are halfway through the month of April during the COVID-19 pandemic. It is time to check the San Diego real estate market monitor to see how we are doing.
From the time period from April 1-15, there were:
- New listings 1379 (51% of prior year)
- Pending 864 (48% of prior year)
- Sold 1146 (76% of prior year)
Median Home Sales Prices:
- March 2020 - $592,000 (+6.5%)
- March 2019 - $556,000
While the overall volume of new listings has been reduced to 51%, homes are going pending at a comparable rate as new listings are coming on market.
Why is this important? People have concerns about the value of their homes. However, in San Diego, the current rate of supply and demand are in unison and are not causing excess inventory.
Watch my video below for more insight on the San Diego Real Estate Market
Housing is a basic need and people still need to move. If you've been thinking about how this could affect your, call me to discuss your situation.
San Diego Real Estate Market Activity
April 1-15 Year-over-Year Comparison
San Diego Median Sales Prices
Overall - All Property Types
Median Sales Price
Single Family Homes