Greetings All,
The latest in San Diego SOLD home prices through Aug 2011.
For HOUSES, in the 18 different zip codes which I track, the median sold prices look like:
· Compared to 1 mo ago, 50% 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 La Jolla with a 42% increase on 21 houses sold.
· Compared to 2 mos ago, the market value of 78% 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 La Jolla with a 37% increase on 21 houses sold and South Park / Golden Hill with a 36% increase on 9 houses sold. Also, over both of the past 2 mos straight, 44% of zips have shown an increase or stayed essentially the same in market value.
· Compared to 1 year ago, we have 56% with a market value either higher or essentially the same (within +/-5%). In this 1 yr category, with a 37% increase over market values of 1 yr ago, is La Jolla with 21 houses sold and also South Park / Golden Hill with a 36% increase on 9 houses 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 | ||
| JULY 2011 | CONDOS | HOUSES |
| 1 MO AGO | 77% | 50% |
| 2 MO AGO | 46% | 78% |
| 1 YR AGO | 38% | 56% |
For more info on real estate issues and concerns in San Diego, scroll down this blog a bit further and check out my post, "Five Refinance Tips for Borrowers" and for even more info, "NEW Record Low Mortgage Rates – 4.12% on 30 Yr Fixed / 3.33% on 15 Yr Fixed".
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. A good example of ups and downs, look at Point Loma condos – median price in Aug ’10 was $0, in June ’11 at $428,000, in July ‘11 way down at $135,000 and then in Aug ’11 back up at $357,000. Let’s watch and see where it goes when the data comes out for Sept ’11, will the upswing outweigh the down? 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.
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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