March Real Estate Stats!!
The March 2012 East County Real Estate Stats are out!
Although the median sales price is trickling down a percent or 2, sales are going through the roof.
The stats below are for El Cajon, Santee, and La Mesa homes for sale.
Median Price:
- March: $303,000
- 1.7% Increase from February
- 1.6% Decrease Year-Over-Year
Average Price:
- March: $328,000
- 6.6% Increase from February
- 0.7% Decrease Year-Over-Year
No. of Sales:
- March: 293
- 1.7% Increase from February
- 0.7% Decrease Year-Over-Year
Pending Sales (In-Escrow):
- March: 621
- 19.7% Increase from February
- 29.6% Increase Year-Over-Year
Active Listings:
- March: 1,107
- 8.4% Decrease from February
- 34.7% Decrease Year-Over-Year
Sale Vs. List Price:
- March: 97.3%
- 0.3% Increase from February
- 0.2% Increase Year-Over-Year
Days on Market:
- March: 79
- 3.3% Increase from February
- 8.3% Decrease Year-Over-Year
The East County Real Estate market appears to be reaching bottom. As you can see by the stats above, there are only small changes in either direction. The one major stat that provides great insight into the future market is "Active Listings". March only had 1,107 listings, which is down 34.7% from last year. 1,695 properties were listed for sale at this time last year. With less properties on the market and sales u 2%, the supply is dwindling very fast.
The inventory of El Cajon, Santee,and La Mesa real estate is down over 45% from the peak in 2007. Notices of Default are down 40+%. Properties being foreclosed on by the bank dropped more than 60%. For the last 16 months, pending sales have been higher than the year before.
Remember...You don't know when we hit bottom until it has passed.
Are you realy to enter the market? Are you looking for El Cajon Real Estate, Santee Homes for Sale, La Mesa Real Estate, Foreclosures? Contat www.SDBroker.com today!
