Greetings All,
Market values in the great majority of my tracked zip codes have gone up! Please see the “Summary” chart below. Now for the latest in San Diego SOLD home prices through Apr, 2012.
For HOUSES, in the 18 different zip codes which I track, the median sold prices look like:
· Compared to 1 mo ago, 78% of zips either went up in market value or stayed essentially the same (within +/-5% median market value) over values of the prior month. The average 1 mo change over all 18 zip codes was +12%. Most notable of these was Hillcrest / Mission Hills with a 138% increase on 11 houses sold.
· Compared to 2 mos ago, the market value of 89% are still either at a higher value or stayed essentially the same (within +/-5%) over the median values of 2 months prior. The average 2 mo change over all 18 zip codes was +10%. Here we have our leader being North Park with a 40% increase on 18 houses sold and Bay Park / Old Town with a 28% increase on 14 houses sold. Also, over both of the past 2 mos straight, 72% of zips have shown an increase or stayed essentially the same in market value.
· Compared to 1 year ago, we have 72% with a median market value either higher or essentially the same (within +/-5%). The average 1 yr change over all 18 zip codes was +4%. In this 1 yr category, with a 58% increase over market values of 1 yr ago, is Hillcrest / Mission Hills with 11 houses sold and also with a 23% increase on 17 houses sold is City Heights.
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 | ||
| APR 2012 | CONDOS | HOUSES |
| 1 MO AGO | 69% | 78% |
| 2 MO AGO | 77% | 89% |
| 1 YR AGO | 69% | 72% |
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 in that year, the rise of the "up" months is higher and thus outweighs the dips of the "down" months. The movement in some zips may be slow for sure, but, it is still movement and those lagging behind the upward trend in San Diego and in the county as a whole, will all catch up in due time!
For more info on real estate issues and concerns in San Diego, scroll down to “Home Prices to Increase Modestly by Year-End: Clear Capital” and for even more info, "Housing Crisis to End in 2012 as Banks Loosen Credit Standards”.
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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