The new lending rules went into effect April 1rst. Ironically the bill was created by the new Comsumer Agency which was designed to protect borrowers, unfortunately the rules will most likely increase home loan borrowing costs. The following statistics will provide some insight into the 4S Ranch single family and condo/townhome market:
4S Ranch Single Family Homes
- April, 2011: 4S Ranch Homes for Sale: 71 (Active, contingent, and pending)
- April, 2011: 4S Ranch Months of Inventory: 6.6
- March, 2011: 4S Ranch Median Home Price $700,000; 3% lowerer than March, 2010
- March, 2011: 4S Ranch Homes Sold: 12; 8% lower than March, 2010
4S Ranch Condos and Townhomes
- April, 2011: 4S Ranch Condos for Sale: 28 (Active, contingent, and pending)
- April, 2011: 4S Ranch Months of Inventory (Condos): 5.9
- March, 2011: 4S Ranch Median Condo Price: $300,000; 24% lower than March, 2010
- March, 2011: 4S Ranch Condos Sold: 5; 67% higher than March, 2010
This snapshot is a quick summary from The North county Real Estate Report, a free 23 page real estate market report covering all cities in the North County of San Diego. Feel free to browse the current issue and subscribe to The North County Real Estate Report any time.
Thank you for reading!
4S Ranch Agent