Seasonal dip or start of longer cooling? – San Bernardino Sun



San Bernardino County house hunters bought less and paid less in January.

Across Southern California, 16,461 residences — existing and newly constructed — sold in six counties, down 28% for the month, and down 8% over the past year, according to DQNews. The region’s median price of $687,000 was down 1% for the month, and up 16% over 12 months.

As for San Bernardino County, here is what my trusty spreadsheet found within the DQNews report on closed transactions for January …

Sales

The month: 2,367 existing and new residences sold — down 23% from December and down 10% from January 2021.

How fast? This was the No. 12 busiest January of the 35 since 1988.

Past decade: 15% above the 10-year average buying pace for January.

Monthly trend: Since 1988, a typical January sees a one-month sales drop 97% of the time with an average 23% decrease from December.

Past 12 months? 37,538 San Bernardino County purchases — 17% above the previous 12 months and 27% above the 10-year average.

Prices

The month: The countywide $475,000 median was down 2.2% in the month, up 17.3% over 12 months. Record high? $485,500 set in December.

Context: Over 10 years, price gains averaged 12.2% annually. The latest performance tops 82% of all 12-month periods since 1988.

Pandemic era? 11 price records broken since February 2020. The median’s $125,000 increase equals a gain of $7.42 every hour over these 23 months.

Key slices

Existing single-family houses: 1,952 sold, down 11% in a year. Median of $458,000 — a 17% increase over 12 months.

Existing condos: 129 sales, down 13% over 12 months. Median of $435,000 — a 14% increase in a year.



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