San Diego California resale condominium appreciation
In the table below, www.brokerforyou.com looked at selected San Diego neighborhoods that
had 10 or more closed sales in August 2008 & August 2007.
The sales data was compiled by DataQuick Information Systems & published in the 9-28-08 edition of the San Diego Union-Tribune.
One should keep in mind the above chart is just for a one year period (August 2007 vs. August 2008) and
San Diego home values topped out around the Summer of 2005!
Lastly, I would note that these figures do not take into account the very prevalent seller concession (usually payment of thousands in the buyer's closing costs) necessitated by an ultra strong buyers market place.
A few of our related prior posts were:
San Diego Real Estate Market … What Did You Expect?
San Diego Real Estate – 5th Largest Decline Through July
San Diego Home Sales Up … San Diego Home Median Price Drops
Southern California Home Prices Drop 34% in August
#1 Key To Purchasing Real Estate in the San Diego Market
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Yale Professor … House Price Decline Could Be Worse than Great Depression
Survey Says Home Values Must Fall Another 14%
Jumbo Financing and the Impact on The San Diego Real Estate Market
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
More homeowners than ever are selling at a loss!
San Diego County Foreclosures up 125% from 2007
Real estate should always be thought of as long term investments. People who buy properties whether in San Diego or anywhere else must realize that the potential for loss is ever present.
San Diego Real Estate Agent
I think people’s expectations of multiple digit appreciation each year in real estate are now proven to be a total fallacy.
San Diego Dentist
Homeowners should be prepared to ride out the current fluctuation, because in the long run values should continue to escalate.
LA Lawyer
It seems speculators were first into the dot com boom, when that went bust they moved into real estate and now it seems like they’re moving into commodities.
SD Cosmetic Surgeon
I remember in 2005 that it seems every month the paper reported that real estate sales were down by double digits though the values seem to be holding up. You would think an intelligent person would realize sales cannot drop by such a magnitude without values following.
Medical Research Personnel