Courtesy of Sandicor, November's statistics are in for real estate activity in South Mission Hills, San Diego CA. Mission Hills and South Mission Hills are beautiful neighborhoods just north of the Downtown San Diego area that feature many period styles of homes like early 1900's Craftsman, Spanish Revival, Colonial, etc. It is one of San Diego's most exclusive neighborhoods and a wonderful place to raise a family with award-winning schools and strong community ties. For the purpose of statistics, South Mission Hills is considered that area south of Washington, bordering Hillcrest, Bankers Hill and Middletown.
Currently there are 17 active detached homes for sale in South Mission Hills San Diego. They range in price from $629,900 to $1,850,000. They average 3 beds, 3 baths, 2,661 square feet and $1,027.12 list price, or $400.60 per square foot. They average 97 days on the market. The median numbers are 4 beds, 3 baths, 2,420 square feet, $923,500 list price or $400.12 per square foot, and 76 days on the market. Non-detached homes (condos, townhomes, etc.) are fewer to be found. There are only 7 on the market here at this point. They average 2 beds, 2 baths, 1,129 SF and $353,74 list price, or $317 per SF, and 73 days on the market.
There are 7 detached homes in escrow at the moment, averaging 3 beds, 2 baths, 2,110 square feet, a list price of $675,43 ande 24 days on the market. There are only 3 attached units in escrow, averaging 2 beds, 2 baths, abou 1200 square feet and a list price of about $300,000.
There were only 2 detached homes sold in November in South Mission Hills, as activity was slow. One was a small office conversion at $265,000 and the other a more traditional 3 bed, 2 bath 1,201 square foot $600,000 sale. only one condo sold as well in November, a tiny 1 bed, 1 bath, 597 square foot $130,000 sale.
This amount of low inventory and low activity is most likely due to several factors: first, homeowners in this area are generally long-time owners and plan to live their whole lives in these beautiful homes and in this wonderful neighborhood. It is also a very affluent neighborhood and most savvy homeowners do not wish to sell now until prices return to 2004-2005 levels. Finally, as in the rest of the country loan limits on "jumbo" loans have made it difficult for "move up" buyers to purchase these properties. This is an area that generally will see very few if any short sales and foreclosures, so prices in 2012 should increase a couple of % or more, but will that mean sellers will start to sell here ? Time will tell if we'll see more houses for sale in South Mission Hills San diego in 2012.
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