Ø Compared to 1 mo ago, 62% of zips either went up in market value or stayed essentially the same (within +/-5% market value). Most notable of these was North Park with a 28% increase over values of the prior month and 25 condos sold, so this increase is a very reliable indicator.
Ø Compared to 2 mos ago, the market value of 46% are still either at a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Here we have our leader again being North Park with a 45% increase over values of 2 mos ago and 25 condos sold, so we still have a reliable figure. Also, for the past 2 mos straight, 31% of zips have shown an increase or stayed essentially the same in market value.
Ø Compared to 1 year ago, we have 62% with a market value either higher or essentially the same (within +/-5%). Leading the 1 yr category is Ocean Beach with a 30% increase and 7 condos sold. Both Mission Valley with 30 sold and Kensington / Normal Heights with 21 sold had a 16% increase each over values of 1 year ago.
To summarize: We are continuing the gentle rise of home market values moving steadily upward and the below chart which shows the percentage of zip codes that either increased or held steady in home value, makes this easy to see: FEB 2010 CONDOS HOUSES 1 MO AGO 62% 78% 2 MO AGO 46% 72% 1 YR AGO 62% 89%
Very simply, 1/2 or more than 1/2 of zips for our San Diego home values, both condos & houses, are still heading upward. Every so often, there is not much more to say unless we resort to irrelevant babble to fill word space. The numbers are saying it all ...... It is a perfect time to buy and if you are selling real estate, you should celebrate, your values are finally going up! Wooooo-hoo, paaaaaarty!
Best - Peg
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