San Diego County home prices held steady in December 2010

San Diego County home prices held steady in December 2010

Many of the experts apparently are disappointed in San Diego real estate because it continues to go against their predictions of doom and gloom.

After reaching a low of $280,000 in February 2009, the median sales price for San Diego County has continued to hold its own, settling at $333,000 in December 2010. That was down from $335,000 in November 2010, up $3,000 from a year earlier and up $33,000 from two years earlier.

Increases of more than 5-7% annually just can't be sustained for too long, and the years from the late 1990s to 2005 invariably saw annual increases in the double digits, and up to forty and fifty percent in some areas. It was only a matter of time before the real estate market regained its senses.

There are a few areas where prices are still declining, mostly high-end areas where sellers have unrealistic expectations because of what they paid for their properties many years ago (according to the experts). There are areas, such as Mission Valley, where multiple offers and great properties are causing the prices to increase faster than the median. Generally, the high-end market lags behind the general real estate market, sometimes by up to 24 months.

If you treat your home like a cash machine and try to play the real estate market like the stock market, the odds of you succeeding are low. However, if your home is a place to live, a place to raise your family, a place to retire, and even a place to die, anytime is a great time to buy.

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If you're looking for a great real estate agent in San Diego, well,
let me Google one for you.

I'm available 24/7, so feel free to contact me by phone or email.

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

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Try Russel Ray Photos for inexpensive, royalty-free photos.

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