92120 30-day Market Update (12/22/22)

🏡⭐ NEW LISTINGS: There have been 11 detached homes listed and 5 attached homes listed for sale.

📃👏 IN ESCROW: 18 detached homes and 5 attached homes went into pending status.

🔑 RECENTLY CLOSED: 17 detached homes and 5 attached homes have closed escrow.

📅 AVERAGE DAYS ON MARKET: Detached homes were on the market for an average of 16 days, whereas Attached homes averaged 55 days on the market.

💸 30-DAY RUNNING MEDIAN SOLD PRICE and YOY CHANGE: The median sold price for homes in 92120 for the past 30 days was $880,000 for detached homes, which is down 10.4% YOY and $555,000 for attached homes, equating to a increase of 32.1% YOY.

🤔💭 The median sales price for detached homes for the same 30-day period this year vs. last was down 10.4%, but last year there were many more larger homes with more bedrooms, bathrooms, and square footage than this year. The average sized home was 470sf larger last year vs. this year too! 😲

⁉️ ⚠️ Condos seemed way off this year too, but in the opposite direction (up over 32%). This was fueled mostly because not only was the average unit slightly larger this year, but a larger percent of units that sold this year had interior laundry hookups (vs. community laundry) and more homes sold with private garages this year vs. last year where there were less desirable parking conditions.

📞 Want to know more about the current market today? I’d love to answer your questions! 🙂 Feel free to DM!

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