North County Coastal and Central San Diego home prices fared better than other areas in San Diego. Overall San Diego County home prices are down 31.4% from 2007. View the complete report compiled by DataQuick:
Interestingly a few areas actually had price increases over 2007 (for resale homes) including:
- Cardiff Attached Homes +11.5%
- Carlsbad NW Attached +4.8%
- Del Mar Attached +3.5%
- Solana Beach Detached +16.7%
- Coronado Attached +19.0%
We have been advising our sometimes disbelieving clients that the market downturn has not been felt as much in the North County Coastal, with the exception of Oceanside. These cities had either increased prices or moderate decreases:
- Carmel Valley: Detached -2,5% Attached -9.0%
- Del Mar: Detached -3.3% Attached +3.5%
- Encinitas Detached -7.3% Attached -11.8%
- Solana Beach Detached +16.7% Attached -8.3%
Carlsbad is a mixture and surprisingly the attached homes were more stable:
- 92008 (N/W) Detached -21.8% Attached +4.8%
- 92011 (S/W) Detached -14.7% Attached -7.9%
- 92010 (N/E) Detached -17.1% Attached -7.4%
- 92009 (S/E) Detached -11.6% Attached -15.6%
Central San Diego had several areas that held their value. Detached homes in Coronado, Hillcrest/Mission Hills, Mission Beach, Pacific Beach, Pt. Loma, Sorrento Valley, University City, and Attached homes in the areas of Morena, Ocean Beach and Pt. Loma had less then a 10% price reduction. Tierrasanta prices were under 11% in both Detached and Attached homes.
The number of home sales were up in 2008 which seems to be continuing in 2009…and there is less than six months inventory. With our “affordable housing” and wonderful weather, don’t you think that we might be near or even at the bottom at least in some areas of San Diego?
Related Posts: Area Information, Area Statistics, Cardiff, Carlsbad, Carmel Valley, Coronado, Del Mar, Encinitas, La Costa, Market Trends, Oceanside, Pacific Beach, Real Estate News, San Diego, Solana Beach
What are short sales? What is happening with the short sale market? Are they selling? Where are they? Here is the Statistics Report for the activity in the last 90 days on all homes, except for manufactured, in San Diego County. Statistics supplied courtesy of Sandicor.
San Diego County Short Sales
- There are currently 6,445 Active Listings. This is a little misleading because most short sales are kept in the active status, even after the seller has accepted an offer, until there is an formal acceptance by the lender(s).
- There are currently 1,778 short sales in the pending status, which means in escrow.
- There have been 4,109 that have closed escrow in the last 90 days.
What are they? Short sales are homes that are for sale and the seller’s loan(s) are more than what the property can sell for. They put it on the market in the hopes that the bank will take less than what they owe. This used to be a process that could take up to 6 months before the lender assigned a negotiator and many went into foreclosure before they ever had a chance to get it approved.
Most banks now have systems in place and as the report shows, they are closing successfully. In fact, most of the time there are multiple offers…you will note that the sales price to listing price is now 97% and average days on the market are down to 99.
Where are they? I did a search for some regions and note the following:
North County Coastal = Carmel Valley, Del Mar, Solana Beach, Encinitas, Carlsbad & Oceanside
- 738 Actives 200 Pending 186 Solds
North County Inland= Scripps Ranch, Rancho Bernardo/Penasquitos, Mira Mesa, Poway & Ramona
- 537 Actives 205 Pending 185 Solds
Metro Areas = Downtown, Hillcrest, North Park, Mission Valley, Clairemont, Tierrasanta & University City
- 1,096 Actives 329 Pending 283 Solds
South Bay = Bonita, Chula Vista & National City
- 1,727 Actives 339 Pending 159 Solds – by far the highest area
If you have stayed away from short sales, you might want to reconsider…many are selling before they become foreclosed on.
Related Posts: Area Information, Area Statistics, Buyers, Cardiff, Carlsbad, Carmel Valley, Del Mar, Downtown, Encinitas, Financial news, Foreclosures, La Costa, Leucadia, Market Trends, Oceanside, Poway, Rancho Bernardo, Real Estate News, San Diego, Short Sales, Solana Beach
Well, San Diego County home sales have not slowed down. September 2008 shows 3,937 Resale Homes are in escrow as of September 30th.
If you take a look at Sandicor’s Statistic Report for last month below, we have currently:
- 11,370 Active Listings in San Diego County
- 3,937 Listings that are Pending (in escrow)
- 1,627 Listings that closed escrow in September
September San Diego County Statistics
Some other very interesting notes:
- DOM (days on market) have decreased from August’s average of 76 days to 65 in September
- SP/LP (sales price to listing price) is now 104% – 4% over asking price.
There are 2 reasons for the SP/LP being over the asking price. One is that bank owned properties are being priced low, which is causing multiple offers and bidding wars. The second reason, in my opinion because I am out there every day, is supply and demand. And it is not just bank owned and short sale properties that are getting multiple offers, I’m seeing it in regular sales as well.
So where did most of the activity take place? Here are statistics from two areas of San Diego County.
San Diego Central Statistics
North County Coastal has 2,029 Active Listings, 555 Pending, and 302 Sold Listings
San Diego Central (from Downtown to UTC) has 1,435 Actives, 605 Pendings and 247 Solds.
Statistics for other areas including:
- Southbay – 1,987 Active, 916 Pending and 259 Sold
- North County Inland – 1,061 Active, 402 Pending and 184 Sold
- East County – 1,371 Active, 589 Pending and 245 Sold
I will be doing further analysis on what is happening with home sales in the county…so please let me know if there are particular areas that you would like me to include.
Related Posts: Area Information, Area Statistics, Buyers, Cardiff, Carlsbad, Carmel Valley, Del Mar, Downtown, Encinitas, Foreclosures, La Costa, Leucadia, Market Trends, Oceanside, Rancho Bernardo, San Diego, San Marcos, Sellers, Short Sales, Solana Beach
As always, my intent is to keep you informed as to what is really happening in the San Diego County housing market. First is a look at the San Diego County Home Sales Report for sales that were recorded in August 2008, published by Data Quick.
Click on the Sales San Diego County August 2008 image to view the full report
Looking at this briefly you would think the market is very gloomy indeed. However, here are some interesting notes:
- Median Sales Prices for Detached Homes were up over last month in 39% of the zip codes including Hillcrest/Mission Hills, Mission/Pacific Beach, University City, Mira Mesa, Carlsbad 2008, and Solana Beach.
- Detached Home Sales were up for the 2nd month in a row in the communities of Rancho Penasquitos, Rancho Bernardo East, Del Mar and Encinitas.
- Median Sales Prices for Attached Homes were up over last month in 33% of the zip codes including Mission/Pacific Beach, Clairemont, University City, Mira Mesa, Sorrento Valley, and Carlsbad 2009.
- Attached Home Sales were up for the 2nd month in a row in Downtown and Carlsbad 2008.
More notable is the fact that these figures reflect the homes that closed escrow in August without reflecting the actual home sales that went into escrow (Pending). See the Statistics from Sandicor, which include resale home only, below:
San Diego County Detached Statistics 9.23.08
San Diego County has 4,086 single family detached homes currently in escrow as of 9/23/2008! To put that in perspective, note that there are only 11,559 active listings…at the current activity that is 3 months inventory.
San Diego County Attached Statistics 9.23.2008
San Diego County Attached Homes has 2,307 homes in escrow. Putting that in perspective, there are 5,559 listed attached homes…again, less than 3 months inventory.
This totals to close to 6,400 homes that are currently in escrow. Wouldn’t you agree that the market has changed? Just the factor of supply and demand is enough evidence of a turnaround.
I would be glad to provide you more detailed information on areas, cities and neighborhoods for you. Just post a reply, send an email or give me a call and I’ll provide you a customized Just the Facts report.
Related Posts: Area Information, Area Statistics, Buyers, Cardiff, Carlsbad, Carmel Valley, Del Mar, Downtown, Encinitas, La Costa, Leucadia, Market Trends, Oceanside, Rancho Bernardo, Real Estate News, San Diego, San Marcos, Sellers, Solana Beach
How to plan for your next life style change can be perplexing, but can be greatly simplified if you use the talents of professionals trained to handle Senior Living. After earning my SRES designation (Senior Real Estate Specialist) I joined the Eldercare Resource Team. We are a collaborate group of independent professionals working in a variety of different industries (from Accounting to Care Giving) who have come together to help raise the level of care for Seniors in San Diego.
Our team can provide you with information that will aid you in analyzing what style of living is right for you at this point in your life.
When it comes time to think of selling the family home and moving into age-appropriate housing, there are many options to consider. Here are just a few:
- Retirement communities
- Independent living facilities
- Assisted care homes
- Skilled nursing homes
Condos and Retirement Communities usually do not provide any type of care or meal service. Independent Living Facilities may offer you your own apartment with some kind of meal service available. Assisted Living Communities usually have individual apartments that you need to furnish, but they offer more care. They can help you bathe, dress and go to the doctor’s. They provide all of your meals, even at your bedside if you are not feeling well. The Skilled Nursing Homes are for individuals who require 24-hour, complete nursing assistance.
To make a decision that will determine your entire lifestyle, consult a professional and ask for their advice. As a REALTOR® and a Senior Real Estate Specialist, I am trained in Senior moves. Whether you are contemplating a condo, a retirement community or some independent living facilities, I am available to answer your questions.
You may also want to speak with Amy Abrams, of Eldercare Guides. She specializes in finding the right assisted living or nursing facility. Irving Eisenberg of Wealth Manager Group can help you figure out how you can afford this move. Michael Pohl of RSF Mortgage may help you find the money to borrow for such a move. Our team is devoted to making your moves less stressful and helping you plan your sunset years for relaxation and peace of mind.
One Active Retirement Community for those 55 years and above is nestled in the hills above Carlsbad, California. It is called, Ocean Hills Country Club. This gated community of 1600 homes is priced from the mid $300,000 to $800,000 and has homes from approximately 900 sq ft to over 2500 sq ft . Some have ocean views, some golf course frontage and all are architecturally interesting with white stucco and red tile roofs. Numerous amenities are available like the golf course, pool, tennis and clubhouse. Call me at (619) 540-5891 for more information or if you would like a private tour of the community.
Want to see more photos of the Ocean Hills Country Club? Follow the link below:
More Photos of Ocean Hills Country Club:
Lush Golf Course
Full Exercise Room