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San Diego Housing Market Update

Reblogger Quincy Smith
Real Estate Agent with Sage Smith Realty

This is a great post provided by Realtor William Johnson of San Diego.  It is interesting to see how the median price of home / condos in San Diego have increased while the number of sales have decreased.  Hopefully the price will remain stable!  Thanks for the great post Mr. Johnson. 

Original content by William Johnson

A recent San Diego Housing Market report indicates that while the median sales prices have increased, the number of sales have dropped since the the expiration of the tax credit incentives.

July 2010 Year Over Year Mediam Price Changes

The year over year changes from July 2009 through July 2010 suggest that there have been increases across the board in Single Family and  Condominium resale prices and also in new homes sale prices. The median prices increased 8.57% for Single family homes, 1.82% for condominiums and a whopping 13.93 % for new homes. These combined gave the county a 5.62% boost to the median price of all combined types of sales.

July 2010 Year Over Year Home Sales

The sales numbers year over year however show  a significant drop in the number of sales in all three categories. The resale numbers for Single Family homes dropped 18.96% while the  total Condominiums resales dropped 19.17%. New homes sales similarly dropped over 24%.  The over market change in San Diego county reflect that there was a total of a 19.40 % overall change in the housing sales figures for the year July 2009 through July 2010.

We have seem over the last year some much appreciated price stability even while the number of sales are dropping. It has been speculated by others that the overall economic picture on employment and the increasing number of distressed properties may very well have a disrupting affect on the price stability gained thus far. While I remain optimistic, statistically at least, the current downward trend is likley to be around a while.

 

If you are Buying, Selling or Relocating to San Diego and  need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and 
sign up for Listing alerts for your favorite San Diego
Home and Condominium Property Searches.

I specialize in Single Family Homes and Condominiums 
throughout the coast and inland areas of San Diego.

William Johnson, Certified Residential Specialist

 
Need Help and Guidelines for Buying or Selling a Home ? Search for Homes and Condominiums in San Diego County. " Voice of San Diego Real Estate Blog "

                                        

 

William Johnson
Retired - La Jolla, CA
Retired

Hi Quincy. !st allow me to say Welcome to ActiveRain. And thank you so much for selecting my post to re-blog. I very much appreciate it. Should you ever need help here in the Rain, always know my door is open to you.

Aug 18, 2010 10:34 AM