September 2020 housing data -- more of the same

Submitted by Rich Toscano on October 9, 2020 - 2:46pm
September pretty much looked like August -- sales steady, inventory even a bit lower, and prices popping in response to the low supply/high demand. Charts below...



















(category: )

Submitted by XBoxBoy on October 10, 2020 - 4:11pm.

Rich, thanks so much for doing this!

So it looks like real estate in SD had a 13% gain year over year. Stop and think about that. It's crazy! We've had gains significantly above inflation for so many years, it's just become nuts. I'd love to see a chart that compared YOY inflation and SD YOY home price gains and salary gains for the last two decades. I bet that chart would really show how crazy things have become.

XBoxBoy

Submitted by Rich Toscano on October 10, 2020 - 4:51pm.

Hi xbox, nice to hear from you. Yeah, it's pretty nuts and you are right, we really need an update of the valuation charts. Those are kind of a pain to update but it's on my list to do it soon! :-)

Submitted by gzz on October 12, 2020 - 12:05pm.

That 13% is a beautiful number, but it is a little inflated because Sept 2019 was a pretty bad month, -2% YOY.

So we're really only up about 11% over two years, Sept 2018 to Sept 2020.

Here are some additional headlines:

Rents fall in college areas, rise elsewhere:

https://timesofsandiego.com/business/202...

I looked at other sources, which indicate that other than college rental markets, rents declined a little in March/April then recovered to slightly above their 2019 levels.

Agent says market is white hot:
sdnews.com/view/full_story/27777437/article-The-fall-real-estate-market-remains-strong

SF rents down 24% from their 2015 peak, Oakland down about 6% from more recent peak.

That translates to 1-bedroom average rent declining from 3700 at peak to 2800 now.

https://socketsite.com/archives/2020/09/...

Submitted by davelj on October 28, 2020 - 11:32am.

Rich - I'm sort of mystified by the chart for condo prices. As you know, I sold a unit in Cortez Hill back in 2015. I just checked the Zestimate and it's maybe 10% higher than what I sold it for 5 years ago. And the rest of the building looks pretty similar. But the charts suggest SD condo prices are way way up over the last 5 years. I'm just trying to make sense of it - maybe the building is unique in some way. But I wouldn't think so.

Submitted by Rich Toscano on October 28, 2020 - 2:07pm.

Idunno but I'd guess it's about the region... my #s are for San Diego county as a whole. Based on what you're saying I'd guess the downtown region went up less than the rest of the county...

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.