Greetings All,
The latest in San Diego SOLD home prices through Oct 2011.
For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:
· Compared to 1 mo ago, 62% of zips either went up in market value or stayed essentially the same (within +/-5% market value) over values of the prior month. Most notable of these was Ocean Beach with a 43% price increase on 6 condos sold in the subject month.
· Compared to 2 mos ago, the market value of 54% are still either at a higher value or stayed essentially the same (within +/-5%) over the values of 2 months prior. Here we have our leader being Ocean Beach with a 40% increase on 6 condos sold and North Park with a 32% increase on 15 condos sold. Also, over both of the past 2 mos straight, 46% of zips have shown an increase or stayed essentially the same in market value.
· Compared to 1 year ago, we have 69% with a market value either higher or essentially the same (within +/-5%). In this 1 yr category, with a 35% increase over market values of 1 yr ago, is South Park / Golden Hill with 5 condos sold.
Summary: The below chart gives you an excellent overview of San Diego home prices by comparing the percentages of my tracked zip codes that either increased or held steady in home value:
| % OF MY ZIPS THAT INCREASED OR HELD STEADY IN HOME VALUES | ||
| JULY 2011 | CONDOS | HOUSES |
| 1 MO AGO | 62% | 56% |
| 2 MO AGO | 54% | 50% |
| 1 YR AGO | 69% | 44% |
Keep in mind that my 13 zip codes for condos and 18 zip codes for houses, are only a portion of the entire San Diego picture. It is the norm for any one particular zip code to have a positive increase in market values for 1, 2, or 3 months and then in other months to see a decrease in market values. While prices may go up & down within any given year-long period, what we are really looking for is a general increase from year to year so that the rise of the "up" months is higher and thus outweighs the dips of the "down" months. So if we have close to 50% of our zips increasing in market value from 1 yr prior, this is a good sign. The movement upward may be slow for sure, but, in our tracked San Diego zip codes, it is still movement upward!
For more info on real estate issues and concerns in San Diego, scroll down this blog a bit further and check out my post, "Mortgage Rates: Sunday Mortgage Rates Move Lower" and for even more info, "How-To Guide, More than 1 million U.S. homeowners Could Get Mortgage Payments Lowered".
Cheers Again Until Next Month! - Peg
Mary "Peg" Heying
REALTOR® - CA DRE License # 01726709
Prudential CA Realty
890 W Washington St.
San Diego, CA 92103
Cell: (619) 301-8589
Email: realtorpeg@yahoo.com
Website: http://www.realtorpeg.com
Facebook: http://www.facebook.com/realtorpegsd
Twitter: http://twitter.com/realtorpegsd
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