Following is my summary of last month's real estate activity in San Diego county. Keep in mind my normal caveat, i.e. real estate is HIGHLY LOCAL and that the market in other areas could be very different from ours. In fact, the market in different areas of our own county vary from zip code to zip code and neighborhood to neighborhood.
Our market is virtually unchanged from last month. We now have about 4.9 months of inventory for detached homes and 4.6 for attached (condos). When we add the number of "contingent" short sales into the mix that number drops to 2.17 months for detached and 1.61 for attached. Generally speaking, less than 5 months of inventory is considered a seller's market with prices strong, 5-7 months is neutral and more than 7 months favors the buyers.
R. Ungar, Associate Broker – Keller Williams Realty
