NOTICE: The MLS is in the middle of
switching software platforms. In the process, we have lost access to the data we
need to provide our monthly statistical trends. We expect to have them next
month.
Are We There Yet?
With all the news of foreclosures headlining the news, it is easy to overlook
the signs that we may be near the bottom of the market.
According to a May 19, 2008 Southland Home Sales Report released by real estate
news source DataQuick, “Southern California home sales surged last month to the
highest level since August as bargain shoppers took advantage of price slashing.
Although some higher-end costal markets also posted gains, the swell in
transactions mainly reflects more sales of homes under $500,000 in inland areas
where depreciation and foreclosures have been greatest.”
In other news, a May 22, 2008 RealtyTimes article entitled, “Real Estate
Outlook: Worst is Over,” “The housing market offered some immediate hints of
recovery with new home starts up by 8.2 percent last month [April, 2008] and
building permits up by 5 percent.”
The California Association of Realtors reported on May 23rd that “Home sales
registered a 2.5 percent year-to-year gain compared with April 2007, ending a
30-month string of year-to-year percentage decreases that began in October
2005.”
Other signs that we are at, or near, the bottom of this cycle are:
Buy and hold investors are coming back into the market.
Multiple offers on bank-owned properties, trophy properties, and well-priced
homes in the best school districts.
If you have been sitting on the sidelines waiting to enter the market, there may
not be a better time than now. Prices in some markets may not have hit their
lowest point, but they probably aren’t far off. In many areas, only the pace of
sales has been affected while prices have held firm and in some cases, have gone
up.
In a changing market, it is more important than ever to have the assistance of a
knowledgeable, local REALTOR®.
The following chart shows new listings and sales since
2000. Click on the chart to enlarge it, then click your BACK button to return to
this page.
The real estate market is very hard to generalize. It is a market made up of many micro
markets. As Leslie Appleton-Young, chief economist for the California
Association of Realtors, recently said, "Knowing the median price is
interesting, but it is as indicative of the value of your home as knowing the
median temperature in America is to predicting the local weather." For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If you need assistance devising a strategy, call or click
the buying or selling link in the menu to the left.
Complete monthly sales statistics for the Central
San Diego area are below. Monthly charts are available for each city
in the county. Use the menu to the left to choose an area.
|
April Sales Statistics |
|
(Single-family Homes) |
| |
Prices |
Unit |
|
|
Change from last year |
Change last month |
| |
Average |
Median |
Sales |
DOM |
SP/LP |
Ave. |
Med. |
Sales |
Ave. |
Med. |
Sales |
| County |
$586,293 |
$439,000 |
1,506 |
74 |
94.4% |
-21.5% |
-24.5% |
-5.2% |
-7.3% |
-0.2% |
38.8% |
| Central San
Diego |
$622,047 |
$436,500 |
372 |
68 |
95.2% |
-23.3% |
-23.4% |
-5.3% |
-14.4% |
1.5% |
50.6% |
| City Heights |
$259,493 |
$248,500 |
14 |
83 |
95.1% |
-26.2% |
-31.4% |
16.7% |
-18.4% |
-19.6% |
133.3% |
| Clairemont |
$496,164 |
$437,500 |
22 |
56 |
94.3% |
-8.2% |
-15.0% |
-24.1% |
9.8% |
1.4% |
0.0% |
| College Grove |
$400,272 |
$376,000 |
15 |
65 |
95.5% |
-21.3% |
-25.1% |
-48.3% |
-0.1% |
7.0% |
-16.7% |
| Coronado |
$1,711,550 |
$1,499,750 |
10 |
83 |
94.3% |
-29.2% |
-25.9% |
0.0% |
7.6% |
-8.1% |
150.0% |
| Del Cerro |
$480,589 |
$440,000 |
19 |
42 |
97.3% |
-9.2% |
-16.2% |
46.2% |
-12.7% |
-10.2% |
72.7% |
| Encanto |
$265,901 |
$266,250 |
34 |
78 |
96.4% |
-35.1% |
-30.8% |
41.7% |
-1.3% |
2.4% |
13.3% |
| Golden Hill |
$433,092 |
$433,500 |
14 |
66 |
96.3% |
3.5% |
8.4% |
40.0% |
24.7% |
15.6% |
180.0% |
| La Jolla |
$2,223,935 |
$1,568,500 |
20 |
54 |
92.5% |
-2.9% |
-16.6% |
-37.5% |
-42.6% |
-34.6% |
17.6% |
| Linda Vista |
$419,786 |
$416,000 |
14 |
64 |
97.4% |
-14.6% |
-17.2% |
-12.5% |
-2.2% |
-2.1% |
27.3% |
| Logan Heights |
$264,950 |
$264,950 |
2 |
50 |
91.5% |
-56.5% |
-20.2% |
-77.8% |
13.4% |
20.4% |
-33.3% |
| Mira Mesa |
$406,882 |
$405,000 |
51 |
78 |
97.8% |
-19.6% |
-20.6% |
64.5% |
-1.4% |
-1.2% |
75.9% |
| Mission Hills |
$715,353 |
$730,000 |
17 |
82 |
95.9% |
-16.1% |
-0.7% |
30.8% |
-1.1% |
20.7% |
70.0% |
| Mission Valley |
$434,143 |
$427,000 |
7 |
66 |
96.1% |
-14.5% |
-15.4% |
-66.7% |
-0.9% |
-7.2% |
40.0% |
| Normal Heights |
$521,000 |
$445,000 |
18 |
113 |
96.3% |
-13.3% |
-8.2% |
20.0% |
-13.4% |
-3.7% |
38.5% |
| North Park |
$436,362 |
$400,000 |
17 |
40 |
96.1% |
-25.5% |
-34.5% |
-10.5% |
-8.7% |
-20.4% |
183.3% |
| Ocean Beach |
$723,377 |
$645,000 |
11 |
63 |
95.3% |
-23.9% |
-25.5% |
-8.3% |
-7.1% |
14.2% |
266.7% |
| Old Town |
$745,917 |
$692,750 |
6 |
78 |
96.4% |
0.7% |
-9.4% |
-33.3% |
34.2% |
32.2% |
-25.0% |
| Pacific Beach |
$829,450 |
$766,855 |
13 |
44 |
92.5% |
-30.7% |
-17.5% |
-40.9% |
-5.7% |
-12.9% |
30.0% |
| Paradise Hills |
$313,395 |
$307,500 |
22 |
82 |
99.6% |
-28.3% |
-26.1% |
266.7% |
5.8% |
4.2% |
340.0% |
| Point Loma |
$1,497,965 |
$1,387,812 |
11 |
90 |
94.6% |
34.8% |
47.2% |
-38.9% |
98.5% |
87.7% |
37.5% |
| San Carlos |
$458,047 |
$480,000 |
19 |
55 |
97.3% |
-10.0% |
-9.4% |
58.3% |
5.7% |
17.1% |
72.7% |
| Scripps Miramar |
$725,826 |
$710,000 |
23 |
45 |
95.6% |
-17.7% |
-6.0% |
4.5% |
-3.2% |
-5.0% |
21.1% |
| Sorrento Valley |
$748,700 |
$760,000 |
5 |
37 |
96.0% |
-0.3% |
-2.6% |
-16.7% |
n/a |
n/a |
n/a |
| Tierrasanta |
$537,700 |
$554,100 |
6 |
47 |
97.1% |
-18.9% |
-19.1% |
-33.3% |
6.8% |
9.6% |
0.0% |
| University City |
$721,000 |
$740,000 |
5 |
32 |
94.1% |
2.0% |
11.7% |
-68.8% |
11.0% |
25.5% |
-16.7% |
|
April Sales Statistics |
|
(Condominiums/Townhomes) |
| |
Prices |
Unit |
|
|
Change from last year |
Change last month |
| |
Average |
Median |
Sales |
DOM |
SP/LP |
Ave. |
Med. |
Sales |
Ave. |
Med. |
Sales |
| County |
$356,995 |
$291,000 |
733 |
73 |
94.8% |
-17.5% |
-20.3% |
-22.7% |
-1.3% |
-1.4% |
30.2% |
| Central San
Diego |
$363,608 |
$300,000 |
285 |
75 |
95.3% |
-17.9% |
-17.8% |
-23.0% |
-9.9% |
6.2% |
48.4% |
| City Heights |
$124,750 |
$117,000 |
8 |
102 |
97.2% |
-50.8% |
-58.1% |
-27.3% |
1.2% |
6.4% |
-11.1% |
| Clairemont |
$257,475 |
$232,500 |
4 |
61 |
95.0% |
-9.9% |
-12.2% |
-60.0% |
8.5% |
14.8% |
0.0% |
| College Grove |
$194,155 |
$165,000 |
19 |
91 |
94.8% |
-23.7% |
-37.7% |
-9.5% |
0.0% |
-8.6% |
137.5% |
| Coronado |
$1,116,750 |
$781,000 |
4 |
99 |
88.9% |
-10.5% |
-21.9% |
-55.6% |
-26.0% |
-55.5% |
-50.0% |
| Del Cerro |
$263,557 |
$240,000 |
7 |
45 |
97.3% |
-8.8% |
-10.3% |
-56.3% |
78.9% |
71.4% |
133.3% |
| Downtown |
$642,100 |
$499,900 |
57 |
58 |
93.4% |
-3.0% |
-14.5% |
-18.6% |
10.1% |
1.0% |
39.0% |
| Golden Hill |
$152,833 |
$135,000 |
3 |
106 |
98.3% |
-58.0% |
-59.7% |
-66.7% |
-50.7% |
-56.4% |
-25.0% |
| La Jolla |
$690,214 |
$617,500 |
28 |
97 |
94.5% |
-9.9% |
17.6% |
-9.7% |
-24.1% |
-16.0% |
55.6% |
| Linda Vista |
$323,908 |
$303,750 |
12 |
41 |
95.8% |
-19.4% |
-22.1% |
9.1% |
15.4% |
12.5% |
100.0% |
| Mira Mesa |
$248,067 |
$215,000 |
27 |
59 |
96.3% |
-21.9% |
-33.8% |
-12.9% |
4.6% |
2.4% |
42.1% |
| Mission Hills |
$422,388 |
$412,500 |
22 |
83 |
94.3% |
-17.6% |
-6.5% |
-37.1% |
-26.4% |
7.8% |
57.1% |
| Mission Valley |
$362,413 |
$385,500 |
24 |
63 |
96.1% |
-8.9% |
7.1% |
-7.7% |
20.9% |
60.6% |
14.3% |
| Normal Heights |
$206,127 |
$210,000 |
15 |
92 |
95.6% |
-18.2% |
-16.8% |
-6.3% |
17.4% |
34.6% |
25.0% |
| North Park |
$288,041 |
$267,500 |
16 |
58 |
96.9% |
8.8% |
0.2% |
-38.5% |
18.7% |
9.2% |
77.8% |
| Ocean Beach |
$495,750 |
$445,000 |
4 |
13 |
97.1% |
15.0% |
-6.9% |
-33.3% |
33.1% |
18.7% |
-33.3% |
| Old Town |
$293,833 |
$331,500 |
12 |
67 |
96.3% |
-12.1% |
2.3% |
9.1% |
0.5% |
15.1% |
50.0% |
| Pacific Beach |
$500,120 |
$485,000 |
25 |
64 |
95.4% |
-24.2% |
-14.8% |
-26.5% |
7.6% |
14.4% |
212.5% |
| Paradise Hills |
$191,894 |
$195,000 |
9 |
86 |
95.6% |
-35.0% |
-18.8% |
80.0% |
-11.0% |
2.6% |
0.0% |
| San Carlos |
$216,111 |
$193,000 |
9 |
88 |
94.5% |
-35.7% |
-43.6% |
50.0% |
20.0% |
5.8% |
200.0% |
| Scripps Miramar |
$350,409 |
$356,750 |
16 |
37 |
96.2% |
-8.8% |
-6.0% |
-33.3% |
-1.2% |
0.5% |
220.0% |
| Sorrento Valley |
$370,000 |
$370,000 |
1 |
7 |
100.0% |
n/a |
n/a |
n/a |
8.8% |
8.8% |
0.0% |
| Tierrasanta |
$348,322 |
$350,000 |
9 |
82 |
95.7% |
-16.3% |
-15.7% |
12.5% |
-7.6% |
-4.8% |
50.0% |
| University City |
$418,895 |
$405,000 |
19 |
86 |
96.6% |
0.9% |
3.8% |
-48.6% |
15.2% |
34.6% |
46.2% |
