San Diego New Home Sales Strong in First Quarter, 2007
FOR IMMEDIATE RELEASE
SAN DIEGO, California –
In the first quarter of 2007, overall net sales level of 2,619 is better than 22
percent above last quarter and nearly 8 percent above the first quarter of last
year. The attached sector saw a quarterly increase of nearly 19 percent net
sales, while the detached sector posted growth of 31 percent. Compared to the
first quarter of 2006, net sales in the attached sector are up better than 16
percent although the detached sector is down less than 7 percent.
The net sales increase comes despite a decrease of seven actively selling
projects this quarter, as more projects are selling out than are entering the
marketplace. Total inventory moved down again this quarter, down 10 percent in
the attached sector and nearly 7 percent in the detached, the second consecutive
quarterly decline. With net sales on the rise and inventory declining, months of
supply fell for the second consecutive quarter. Overall there are 16 months of
supply in the attached sector and 23 months of detached, however, offered and
unsold inventory would last less than nine months in the attached sector and less
than four months in detached.
On the whole, average prices in San Diego County also gained more than 6
percent this quarter to $544,272. Although the detached sector slipped 3 percent
this quarter, the attached market saw an 11 percent surge.
In addition to MarketPointe’s quarterly surveys of Orange County, new home
sales reports are published for Kern, Imperial, Greater Los Angeles, Ventura,
West Riverside, Santa Clarita-Antelope Valleys, East Riverside, San Bernardino
and San Diego Counties.
MarketPointe Realty Advisors ResidentialTrends is a quarterly publication,
and is considered the most comprehensive and detailed audit of residential
activity throughout San Diego County, from an unbiased, yet knowledgeable
source. MarketPointe Realty Advisors provides comprehensive real estate
databases and consulting services. The offices are located in San Diego and
Orange County, with representation throughout California. Phone San Diego at
619-233-3781, Orange County at 714-528-2554, website is
- Contact Information
- Russell T. Valone II
- President & CEO
- MarketPointe Realty Advisors
- Contact via E-mail
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