Happy Labor Day! I hope you had a great Summer and are ready for Fall. The Summer weather in San Diego couldn’t have been better—much warmer (though not too much so) and exactly as San Diegans describe it to their friends in faraway, not-so-fortunate climates.

While the Summer time weather improved significantly compared with last year, San Diego real estate overall did not fare quite as well. August 2011 sales data has not yet been released, so I'll recap July and have an update for you when August  figures are available.

While sold listings of Single Family Detached (SFD) homes in July of this year increased by 6.3% over last, the Median price decreased just slightly by .7% compared to July 2010.

Attached homes (condos) continued to stumble in July, with sold listings down 1.8% this July compared to July 2010. Median prices dropped year-over-year as well by 6.3%.

The good news is that there are homes available for purchase and both prices and interest rates are fantastic! Inventory levels rose just barely, though, continuing to bump around the four-month supply level. A six-month supply is considered normal, so buyers may find it a little more challenging to find the right match.

Keep in mind that, just as San Diego County stats differ from national real estate averages, sales statistics and pricing within San Diego County may vary widely by city and neighborhood. If you are interested in San Diego County real estate sales data for a specific geographic region, please contact me for a customized analysis for your neighborhood or location of interest.