3rd Quarter Statistics for San Diego Real Estate – Get the Facts
Posted by Diane White | Visited 298 times, 1 so far today | Leave A Comment »
What happened in the San Diego housing market in the 3rd quarter? Most areas saw prices declining because the lower priced homes are the ones selling the most…which has brought down the average sales price. The fact is that most short sales and foreclosures have occurred in the lower price ranges and investors and first time home buyers are taking advantage of it,
This market may dry up sooner then we expected due to lenders being encouraged to modify their loans. Countrywide where one out of four loans were serviced, is being required to do so and they have up to 125,000 loans in California alone.
The number of home sales in San Diego County in the 3rd quarter were pretty steady. Total sales including Resale Detached and Resale Attached Homes were:
September 3,090 August 2,801 July 3,083
Here are the full reports compiled by Data Quick for San Diego County:
To summarize average home sales prices for September, August and July:
San Diego County
Resale Homes – Sales Trends 2008
$1,000’s
September August July
Central San Diego
Detached $ 370 $ 400 $ 417
Attached $ 269 $ 296 $ 305
North County Coastal
Detached $ 433 $ 421 $ 480
Attached $ 340 $ 385 $ 394
North County Inland
Detached $ 370 $ 390 $ 400
Attached $ 223 $ 217 $ 239
East County
Detached $ 315 $ 325 $ 343
Attached $ 165 $ 165 $ 173
South County
Detached $ 355 $ 360 $ 375
Attached $ 184 $ 201 $ 225
Here are prices in several particular areas/cities:
Clairemont
Detached $ 430 $ 420 $ 458
Attached $ 321 $ 268 $ 178
Hillcrest/Mission Hills
Detached $ 764 $ 939 $ 646
Attached $ 491 $ 315 $ 352
North Park
Detached $ 400 $ 445 $ 390
Attached $ 218 $ 233 $ 229
University City
Detached $ 645 $ 618 $ 583
Attached $ 308 $ 350 $ 338
Carlsbad
Detached $ 603 $ 643 $ 672
Attached $ 399 $ 632 $ 426
Encinitas
Detached $ 848 $ 873 $ 773
Attached $ 374 $ 388 $ 614
Carmel Valley
Detached $ 925 $ 865 $1.050
Attached $ 387 $ 495 $ 512
Del Mar/Solana Beach
Detached $1.328 $1.678 $1.164
Attached $ 655 $ 504 $ 624
Oceanside
Detached $ 302 $ 321 $ 351
Attached $ 226 $ 254 $ 174
Escondido
Detached $ 337 $ 332 $ 357
Attached $ 121 $ 160 $ n/a
San Marcos
Detached $ 418 $ 394 $ 414
Attached $ 229 $ 237 $ 231
How long will prices decline? I have seen a huge influx of investors that are buying up property…do you think they know what they are doing? I do.
