Our summary of market statistics for San Diego County and for each of the I-15 Corridor communities has been updated. I’ll make a couple of obvious, general observations and, as always, leave the remainder of the interpretation to others.
- I am seeing a whole lot of the same compared to our last couple of updates. List prices remain relatively stable, but the price points of homes in escrow have come down. This gives us a clue as to who is buying right now, and of course who isn’t. Take Poway, for instance, where the average list price is $1,192,443 today versus an average list price of homes in escrow of $775,669.
- The number of homes in escrow has increased slightly in all cases, undoubtedly a reflection of seasonal factors. Numbers of escrows and sales, however, remain dramatically lower than we have been accustomed to over the past five years.
- Market times are for the most part up across the board: Actives, pendings and solds.