For HOUSES in the 18 different zip codes which I track, the median sold prices look like:
Ø Compared to 1 mo ago, 78% of our zips either went up in market value or stayed essentially the same (within +/-5% market value). Here, Hillcrest / Mission Hills leads the pack with a 30% increase (7 houses sold) and Point Loma comes close with a 28% increase (9 houses sold) above values of the prior month.
Ø Compared to 2 mos ago, the market value of 72% are still either a higher value or stayed essentially the same (within +/-5%) as they were 2 mos ago. Point Loma (9 houses sold) had a 24% increase in market value over those of 2 mos ago. And, 61% of zips have shown an increase or stayed the same in market value for the past 2 mos straight.
Ø Compared to 1 year ago, we have 89% (16 out of 18) with a market value either higher in market value or essentially the same (within +/-5%) compared to 1 yr ago. Here we have Ocean Beach with a 41% increase (10 houses sold) and City Heights with a 37% increase (28 houses sold) above values of 1 yr 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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