Median Sales Price vs. “Home Prices”

North County Coastal | Sales and Price Check

June 3, 2021

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1 Comments

Hey Jim – did you say home prices went up 9% in one month?

No, the NSDCC median sales price went up 9%, and there’s a difference.

Here’s a look at the mix of homes between La Jolla and Carlsbad that sold in their respective months:

Month, Year	Total # of Sales	Avg SF	Median SF	# Sales Under $1M	# Sales Over $3M
May, 2019	297	2,980sf	2,686sf	71	26
May, 2020	143	2,981sf	2,759sf	30	11
April, 2021	357	3,339sf	2,881sf	14	71
May, 2021	295	3,542sf	3,029sf	9	79

More of the larger homes are selling.

The NSDCC Median Sales Price in May increased 9% over April, but the median size went up 5% too.

It’s probably too simple to calculate 9% – 5% = 4% but the local annual appreciation has been at least 30% lately so a month-over-month increase of 3% to 4% in the hottest months of the year seems reasonable.

Though the May sales will be down 10%, the number of sales over $3,000,000 went up 11% in one month!