San Diego County Residential Real Estate Market Analysis: (Part 2 of 3)
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. * All 2011 data in figures 1 through 4 will be projected based on market data taken from January through March as reported by the San Diego County MLS system. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports. ©2011 By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
Market Overview: The mean sold price for a housing unit in San Diego County peaked in 2007 at $621,675. The mean sold price in 2009 decreased to a low of $399,200, a 35.8 percent decrease from the market peak in 2007. *In 2011, the projected mean sold price is $407,720, which would represent a 2.1 percent increase from the 2009 mean sold price and a 34.4 percent decrease from the market peak in 2007 (see figure 3).
Market Overview: The mean number of days a property was on the market in San Diego County reached a low of 29 in 2004. *The projection for 2011 shows the mean number of days on market to be at 82, a new high for the given time frame (see figure 4).
figure 4
Detached Housing Market Specifics – 1st Quarter 2010 compared with 1st Quarter 2011: Detached home sales data for the 1st quarter of 2011 shows the highest number of sales were in the $300,000-$400,000 price range. This is consistent with the 1st quarter of 2010, when the highest number of sales were in the same $300,000-$400,000 price range (see figure 5).
figure 5
Attached Housing Market Specifics – 1st Quarter 2010 compared with 1st Quarter 2011: Attached home sales data for the 1st quarter of 2011 shows the highest number of sales were in the under $200,000 price range. This is consistent with the 1st quarter of 2010, when the highest number of sales were in the same under $200,000 price range (see figure 6).
figure 6
See tomorrow’s post for part three of this article.
