As the following chart shows in regards to San Diego homes for sale, the median home price has dropped 7.24% from September 2008 to September 2009. Please note, the chart specifically targets 3-bedroom, 2-bath homes as this configuration provides the most stable method of measurement.
It is always useful to compare the price per sq ft to see if the buying pattern is affected by the size of home. In the next chart the San Diego home sales are plotted both by price and price per sq ft. Apparently the home sizes are shrinking slightly as the decline in the price per sq ft is only a decline of 5.64%.
It is somewhat interesting to see that only in the last year have we seen a difference is the rates of change of price and price per sq ft. If this is any indication, it would appear that basic inflationary pressures are also at work in slowing down the decline in the cost of housing.
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Robert T. Boyer, Ph.D.
Licensed Realtor® #010791063
RobertBoyer.Realtor@gmail.com |
San Diego Foreclosures and Real Estate Investment Property
Your San Diego CA Real Estate and San Diego REO Specialist
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I'm not a big fan of year over year statistics although I understand why we use it. I much prefer month over month, though.