There Remains a Heartbeat in San Diego’s New-Home Market
San Diego showed a steady 8 percent increase in net sales volume over last quarter. The detached sector saw a remarkable gain of 72 percent, while the attached sector slumped again for the third consecutive quarter. Even with the attached sector’s 32 percent decline the market “continues to show delicate improvement” according to Robert Martinez, Director of Research for MarketPointe™ Realty Advisors, Inc.
Martinez further reports on the average value ratio in the region. The detached sector noted a 3 percent increase in average value ratio based on a 10 percent weighted average price drop and a 7 percent decrease in home size. In MarketPointe’s ResidentialTrends™ publication the attached sector shows a 16 percent increase in average price and a 19 percent increase in average unit size; this translates to a slight decrease of 3 percent in average value ratio over last quarter.
Thirteen new projects entered the marketplace this quarter increasing inventory by just under 2 percent. All of the inventory increase was posted in the detached sector as a drop of about 6 percent was seen in the attached sector. Released and unsold homes represent slightly over 6 months of attached supply and roughly ten weeks of detached. Martinez notes that “if all of the unreleased future phase inventory were suddenly released, the timeline would jump to 15 months of attached supply with over 16 months of detached.”
MarketPointe™ Realty Advisors, Inc. provides new housing market statistics throughout California via its ResidentialTrends™ new-home database and its LandTracker™ proposed development database, as well as site specific, tailored housing market research and consulting services. Comprehensive “Housing Market Overviews” providing new home sales, pricing, housing inventory trends, future housing supply, and new and leading developments are available for regions across California by going to www.marketpointe.com/landing. Phone San Diego at 619-233-3781, Orange County at 714-528-2554 or Sacramento at 916-710-1396; url:www.marketpointe.com.
- Contact Information
- Robert D. Martinez
- Director of Research
- MarketPointe™ Realty Advisors
- Contact via E-mail
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