Otay Ranch Real Estate Market Report Summer 2009
Otay Ranch Real Estate Market Report Summer 2009 - Otay Ranch 91913 and 91915 in Chula Vista like the rest of San Diego County is still valuing down. This report will combine zip codes 91913 and 91915 although the majority of Otay Ranch is 91913 areas like Windingwalk are 91915. 91915 also include parts of EastLake. The combined home sales for June 2009 for 91913 and 91915 are 99 homes. The median home price in June is $375,000 with a decrease from last year of 4% for 91913 and 11% for 91915. The combine condo sales for the two Chula Vista Zips are 45 condos. There was a decrease in condo values from last year of 24% in 91913 and 17% in 91915. The median condo price is $203,000. If you're buying or selling in Otay Ranch or anywhere in Chula Vista call me, Dawn Lewis.
San Diego Real Estate Market Conditions - The San Diego MLS is filled with short sales and foreclosures and out of the two the short sales stay on the market a very long time making it look like the San Diego Market is saturated with homes for sale but the reality is there is very little to actually write offers on. The conventional listings as well as REO's sell fast when in good condition and priced correctly. Multiple offers on many of the lower end price ranges of San Diego homes and condos.
Buyers are actually getting discouraged with the lack of inventory in the San Diego Market. I have personally seen over 50 offers on a single property for sale that was priced correctly. This is not uncommon. Also keep in mind if you're a buyer that 49 out of the 50 offers won't get accepted. This is causing many buyers to be disillusioned by the market and home buying and has them second guessing any agent that they hire. The upper end still has room to drop and should be looked at with caution. Use a good Realtor like me to help you with all of your Real Estate needs in San Diego.
June 2009 Sales and Median Prices
Central San Diego Existing Home Sales - 565 Median Price $365,000 Down in value -10% from last year. Existing Condo Sales - 475 Median Condo Price $263,000 Down in value -10% from last year.
East County Existing Home Sales - 340 Median Price $295,000 Down in value -15% from last year. Existing Condo Sales - 139 Median Condo Price $131,000 Down in value -22% from last year.
North County Inland Existing Home Sales - 629 Median Price $364,000 Down in value -13% from last year. Existing Condo Sales - 189 Median Condo Price $216,000 Down in value -15% from last year.
North County Coastal Existing Home Sales - 386 Median Price $455,000 Down in value -17% from last year. Existing Condo Sales - 128 Median Condo Price $323,000 Down in value -23% from last year.
South County Existing Home Sales - 376 Median Price $320,000 Down in value -15% from last year. Existing Condo Sales - 169 Median Condo Price $151,000 Down in value -28% from last year.
When you need help with San Diego Real Estate please call me and my team. I have over 20 years experience as a licensed agent in San Diego and have sold well over 2,500 homes. Put my experience to work for you.
Mike and Dawn Lewis - Realtors in San Diego CA - The Lewis Team at Keller Williams
All Information is believed to be correct but not guaranteed