Greetings All,
The latest in San Diego SOLD home prices through June 2011.
For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:
Ø Compared to 1 mo ago, 77% of zips either went up in market value or stayed essentially the same (within +/-5% market value). Most notable of these was Clairemont Mesa with a 37% increase over values of the prior month on 11 condos sold and Downtown with a 25% increase on 87 condos sold..
Ø Compared to 2 mos ago, the market value of 77% 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 being Point Loma with a 56% increase on 4 condos sold , Kearney Mesa / Linda Vista with a 42% increase on 11 condos sold and Bay Park / Old Town with a 37% increase on 11 condos sold over the market values of 2 mos ago. Also, over both of the past 2 mos straight, 69% of zips have shown an increase or stayed essentially the same in market value.
Ø Compared to 1 year ago, we have 38% with a market value either higher or essentially the same (within +/-5%). In this 1 yr category, with a 95% increase over market values of 1 yr ago, is Point Loma with 4 condos sold.
. Summary: The below chart gives you an excellent overview of San Diego 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 | ||
| MAY 2011 | CONDOS | HOUSES |
| 1 MO AGO | 77% | 72% |
| 2 MO AGO | 77% | 61% |
| 1 YR AGO | 38% | 61% |
For more info on falling & rising home prices in San Diego, and to contrast this data with overall data for all of San Diego, scroll down this blog a bit further and check out my post, "S&P/Case-Shiller Home Price Indices, May 2011" and for even more balance, "Housing Market Expected to Follow Overall Economy, Positive Trend Expected Through Remainder of 2011". 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 slight decrease in market values. While prices may go up & down within a given year, 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.
Cheers 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
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