Greetings All,
The latest in San Diego SOLD home prices through May 2011.
For CONDOS, in the 13 different zip codes which I track, the median sold prices look like:
Ø Compared to 1 mo ago, 46% of zips either went up in market value or stayed essentially the same (within +/-5% market value). Most notable of these was Point Loma with a 56% increase over values of the prior month but this was with only 3 condos sold, so lets consider Pacific Beach at a 30% increase with 28 condos sold a more realistic factor.
Ø Compared to 2 mos ago, the market value of 62% 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 an unreliable 258% increase on those 3 condos sold but, more reliably, Ocean Beach with a 28% increase on 8 condos sold over the market values of 2 mos ago. Also, over both of the past 2 mos straight, 54% of zips have shown an increase or stayed essentially the same in market value.
Ø Compared to 1 year ago, we have 62% with a market value either higher or essentially the same (within +/-5%). In this 1 yr category, with a 43% increase over market values of 1 yr ago, is Kearney Mesa / Linda Vista with 11 condos sold..
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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 | ||
| MAY 2011 | CONDOS | HOUSES |
| 1 MO AGO | 46% | 83% |
| 2 MO AGO | 62% | 94% |
| 1 YR AGO | 62% | 56% |
Cheers Until Next Month! - Peg
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