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December 2021 Home Prices in San Diego County
The San Diego Association of Realtors December Report shows the median home price in San Diego County was up 14.1% over the previous year at $850,000 for detached, single-family homes. Condos were up 19.4% over the previous year at $585,000.
Overall sales were down versus the previous year.
December 2021 Days on Market Until Sale in San Diego County
Days on the market until sale for December 2021 continued at low levels. It was 22 days on the market for single-family detached homes, down from 25 days in December 2020, and 39 Days in Decmeber 2019. For condos and duplexes, it was 21 days in December vs. 26 days in December 2020, and 38 days in December 2019.
Mortgage Rate Expectations for January in San Diego
According to data from Freddie Mac released on January 13th, the 30 years fixed-rate mortgage stood at 3.45% (up from below 3% in November 2021), and increased 0.25% since last week. This is driven by higher-than-expected inflation rates which have caused the Fed to consider tightening the money supply sooner than expected. In order to control inflation, the fed will end its bond-buying operations and likely increase interest rates this year.
For Home Sellers in San Diego
With fewer homes available and the number of buyers at an all-time high, there has never been a better time to consider selling your house.
If you would like to get a free valuation of your home call me at 619-417-0774 or email me.
Note: Charts are courtesy of the San Diego Assoc. of Realtors and Freddie Mac
