The average sales price for Single Family Homes sold in San Diego during the month of December bumped up slightly to $551,250 up $11,250 from November. The average days on the market also rose from 45 in November to 53 in December. While the sales price to list price ratio dropped slightly from 97.4% in November to 96.8% in December.
What does decrease in Sales to List Ratio mean for consumers? It suggests that the expectations between buyers and sellers are readjusting. Sellers are more likely to reduce their list prices and sell below the list price as the market competition wanes. Buyers are, on the other hand, in a better predicament as they do not have to compete with as many bidders as they did last year. All things considered, housing market appears to be moving to a greater balance.
Most experts predict steady, continued growth in the 2015 San Diego housing market and interest rates to remain relatively low for San Diego home buyers.
Let’s keep our fingers crossed for a continued recovery, health in the market place and peace worldwide for 2015!
Tami McCraw
