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After reaching a low of $280,000 in February 2009, the median sales price for San Diego County has continued to chug steadily higher, increasing from $334,500 in October 2010 to $335,000 in November 2010, just a $500 increase. However, the median price was up $10,000 from November 2009 but still far below the $517,500 reached in November 2005.
There are some areas where prices are still declining, mostly high-end areas where sellers have unrealistic expectations (according to the experts), and there are other areas, such as Mission Valley, where multiple offers and great properties are causing the prices to increase faster than the median. In fact, prices in the main Mission Valley zip code of 92108 were up 12.5% in October 2010 (November breakdown by zip codes is not available yet).
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10 Comments on San Diego County home prices for November 2010
Jim - this is an outstanding market report. It is noce to see that the price of homes in San Diego county are finally gainging traction and like you said finally the real estate market is coming to their senses!
PS Nice cat pics!
I meant to say Nice not noce LOL
It's great to see some areas are going up again. I just wish there were more buyers out there (real ones)! Good report, Jim.
Jim,
Your graph proves the wisdom of Warren Buffet: "Buy and hold for a very long time". There was a buy-flip-and-get-rich component to the bubble. As you clearly stated certain levels of appreciation can't be maintained.
Steve
Jim, that is good news! It is also a great post!
Jim, this is a great post with just the right blend of market information, pictures, and your graph! I really like your graph! Is that Excel?
Did the properties within the city limits of San Diego say Coronado or Point Loma take a larger hit, or is it pretty much proportional? (I would assume the average/median price is more that triple for places like that)
Great market report Jim, great information for potential buyers. You are seeing some good increases in value! Our median prices have not increased that much.
Happy Holidays
Hi Jim, the holiday season is indeed a good time to buy! All the best for 2011!
Hey, everyone — Thanks for stopping by.
As usual, I get way behind in checking the comments to my many blog posts, so that’s what I’m doing this evening, trying to catch up.
I’ll read through all the comments to see if any of them need a specific response. If so, I’ll respond below this comment. Thanks again for stopping by and commenting. I really do appreciate it, and I’ll be by your blogs soon to do some reading and commenting soon.
Happy new year to everyone!
Bruce – Everywhere was hit, but it seems like Chula Vista was hit hardest. The high-end properties (Point Loma, Coronado, etc.) lag behind the general market here by about 12-18 months, so they are just now reaching the bottom and heading back up.