Want to know what is going on in North County San Diego when it comes to buying and selling homes? Check out the latest statistics from the HomeDex report:

• Rising home prices, higher interest rates and increased building material costs have pressured housing affordability to a ten-year low, according to the National Association of Home Builders. Keen market observers have been watching this situation take shape for quite some time. Nationally, median household income has risen 2.6% in the last 12 months, while home prices are up 6.0%. That kind of gap will eventually create fewer sales due to affordability concerns, which is happening in several markets, especially in the middle to high-middle price ranges.
• Closed Sales decreased 15.3 percent for Detached homes and 15.3 percent for Attached homes. Pending Sales decreased 9.4 percent for Detached homes and 10.4 percent for Attached homes.
• The Median Sales Price was up 9.4 percent to $755,000 for Detached homes and 2.3 percent to $445,000 for Attached homes. Days on Market increased 12.9 percent for Detached homes and 25.0 percent for Attached homes. Supply increased 25.0 percent for Detached homes and 46.7 percent for Attached homes.
• While some are starting to look for recessionary signs like fewer sales, dropping prices and even foreclosures, others are taking a more cautious and research-based approached to their predictions. The fact remains that the trends do not yet support a dramatic shift away from what has been experienced over the last several years. Housing starts are performing admirably if not excitingly, prices are still inching upward, supply remains low and consumers are optimistic. The U.S. economy is under scrutiny but certainly not deteriorating.

HomeDex report is from the North San Diego County Association of Realtors.

HomeDex is a reliable resource for single family attached homes in the North San Diego County and as a leader in the industry, The Lawhead Team knows it is important to share these important facts with our readers.

The Lawhead Team would like to share some key points for North San Diego County’s single family attached homes.

Single-Family Attached Home Prices

• The North San Diego County median-priced single family attached homes decreased 2.93 percent from $273,000 in September 2012 to $265,000 in October 2012. Non-North San Diego County single family attached homes median price increased 3.58 percent to $231,500 in October 2012 from $223,500 in September 2012.

• North San Diego County single family attached homes median price increased 14.47 percent year-over from $231,500 in October 2011. Non-North County SFA median year-over price rose 15.75 percent from $200,000 in October 2011.

• County-wide single family attached homes median price increased 2.08 percent to $245,000 in October 2012, and year-over county median price increased 16.67 percent from October 2011.

• The median number of days-on-market for North County single family attached homes sold fell to 42 days in October 2012 from 50 days in September 2012. The average number of days-on-market remained at 77 days in October 2012.

• The number of sold single family attached homes increased 1.32 percent in October 2012 from September 2012. The number of sold SFA units in Non-North County zip codes increased 14.91 percent in October 2012 from September 2012.

• Year-over single family attached homes sales in North San Diego County increased 28.99 percent from October 2011. Non-North County year-over sold units increased 16.84 from October 2011.

• Single family attached homes listings (active and contingent) in North San Diego County decreased 6.7 percent from September 2012 to October 2012 and decreased 43.43 percent yearover from October 2011. San Diego County SFA listings (active and contingent) decreased 4.66 percent in October 2012 from September 2012 and decreased 35.16 percent year-over from October 2011.

Housing Affordability – Single-Family Attached Homes

• The monthly payment – including principal, interest, property taxes, and insurance – for the median-priced single family attached homes in North County decreased to $1,261 in October 2012 from $1,297 in September 2012. The monthly payment for the median-priced SFA home in Non-North San Diego County zip codes increased to $1,102 in October 2012 from $1,062 in September 2012.

• The percent of San Diego County households able to afford the median-priced single family attached homes in North County increased from 60 percent in September 2012 to 61 percent in October 2012.3 The SFA home affordability level for Non-North San Diego County zip codes decreased from 69 percent in September 2012 to 68 percent in October 2012.

• In October 2011, 61 percent of county households were able to afford the median priced single family attached homes in North San Diego County and 68 percent were able to afford the median-priced SFA home in Non-North County zip codes.

Looking to buy a condo or town home?  We are your source for single family attached homes! Call The Lawhead Team, Because Two Lawheads Are Better Than One^TM.