September 2010 real estate activity in Rancho Penasquitos is still reacting to the end of the tax credit housing stimulus. We see mixed results between single family homes and condos / townhomes. Single family homes are mostly in a seller's market, although the number of sales have dropped. Condos are trending down with very few sales.
Home prices are up 1.2% but sales are down about 40%. Homes for sale months of inventory on average is 4.2 months. Meanwhile, condo / townhome prices are down 9% and sales are down 50% from the prior 30-days. Condos for sale inventory on average is 57 months. If you are looking to buy, that is where to drive a hard bargain.
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