Greetings All,
The latest in San Diego SOLD home prices through Nov, 2011.
For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:
· Compared to 1 mo ago, 31% of zips either went up in market value or stayed essentially the same (within +/-5% median market value) over values of the prior month. Most notable of these was Kensington / Normal Heights with a 23% price increase on 10 condos sold and Pacific Beach with a 22% increase on 18 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 median values of 2 months prior. Here we have our leader being Bay Park / Old Town with an 11% increase on 9 condos sold. Also, over both of the past 2 mos straight, 23% of zips have shown an increase or stayed essentially the same in market value.
· Compared to 1 year ago, we have 38% with a median 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 Pacific Beach with 18 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 | 31% | 67% |
| 2 MO AGO | 54% | 61% |
| 1 YR AGO | 38% | 39% |
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. This is particularly common with changes in the season such as during the winter holiday season. 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 you see your particular zip(s) increase in market value from 1 yr prior, this is a good sign even though other zips or San Diego county as a whole may have gone down as in the winter months. The movement upward may be slow for sure, but, in those San Diego zip codes, it is still movement upward and the other zips and the county as a whole will also catch up in due time!
For more info on real estate issues and concerns in San Diego, scroll down to "San Diego Home Sales Increase While Prices Decreased 6% from November 2010" and for even more info, "3 Tips For Cutting Your Mortgage Costs in 2012".
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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