January 2024 Housing Monthly Report!
- nathaliaventurella
- Feb 22, 2024
- 2 min read
The California Association of Realtors shared the monthly market report in CA, January 2024. I got the ones in San Diego, Carlsbad, Encinitas, Escondido, Oceanside, San Marcos & Vista. I’d like to highlight the following:
All those cities increased their single-family-residence (SFR) home sales in January 2024 compared to 2023, except Escondido and San Marcos which decreased 29.2% and 19.2%, respectively. Comparing the January 24 home sales with December 23 one, just San Marcos and Vista were the only cities that decreased their home sales.
All those cities also increased their existing SFR median price at least 2%, except San Marcos (decreased by 12.6%) compared to last year. Highlighting Encinitas that increased the most its median price by 47% with $2.55M compared to January 23. San Diego increase its median price the least by 2.1% with $1.17M compared to January last year, and last month with $1.13M.
Carlsbad increased its active listings the most by 45.9% compared to last year, while Oceanside decreased the most by 31.8%.
Another important consideration is that median days on market comparing January 2024 and December 2023. Carlsbad increased the most 166.6% in January 24 by 40 median days on the market compared to December 23 by 15 days. On the other hand, Vista and Escondido decreased their median days on market in January 24 by 18 days and 15 days, respectively; comparing into December 23: 25 days and 20 days, respectively.
Why is this data so important for you to know? First of all, knowing well the current housing market is a powerful knowledge that you can take advantage of. Secondly, if you are a buyer, now it’s the time to buy with the recent mortgage rates drop. The recent data shows that housing prices will continue to increase, and mortgage rates will increase as well. Sellers, it’s also a great time to sell because the market is shifting, houses are not selling as fast as they used to. Whenever you are ready, I’ll be here!!
What do you think of the January 2024 monthly market report?
Nathalia Venturella
Realtor® | CalRE# 02124541
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