July 14, 2024

San Diego County Residential Real Estate Market Analysis: 4th Quarter 2011

By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339

The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County as reported by the San Diego County MLS system.

Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units (see figure 1). There were 31,885 sales in 2011.

San Diego real estate market

 

Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month (see figure 2). The 2008 monthly absorption rate decreased to a low of 1,998 units. In 2011 monthly absorption rate was 2,657 units.

San Diego housing

 

 

Market Overview: The mean sold price for a housing unit in San Diego County peaked in 2007 at $621,675 (see figure 3). The mean sold price in 2011 was $410,249. This represents a 34 percent decrease from the market peak in 2007.

San Diego real estate market

 

 

Market Overview: The mean number of days a property was on the market before it sold reached a low of 29 in San Diego County in 2004 (see figure 4). In 2011 that number peaked at 79 days on market.

San Diego California real estate

 

*See the next post for the second (and last) part of this San Diego Real Estate Market Analysis