Good news for homeowners in the north county. The HomeDex numbers for last month just came out, and the results were fabulous as a whole! It’s also great news for potential home buyers that have been on the fence and not sure about the direction of the housing market. Here’s a quick glimpse at the North San Diego County Association of Realtors HomeDex report. The numbers speak for themselves.
First, we’ll start with the median price for all single family homes, detached or attached in the North County of $393,500 in March 2011. That is a major increase from the February median price of $358,000. Singling out detached homes only, yielded a healthy gain of 7.82% from February to March, compared to a rise of 2.03% outside of the North County.
Some notable records for the North County broken down into neighborhoods and cities were telling. For example the La Costa area of Carlsbad saw only a slight increase of 3%. Carmel Valley enjoyed a modest increase of 2%, and most shocking was the 20% increase posted by the 92084 zip in Vista. Among the decliners were Carlsbad’s 92010 zip code at a 10% decline, Encinitas at a 9% decline, and Rancho Santa Fe at a 16% decline.
Now then, do not be discouraged if you live in any of the areas mentioned with declines. Keep in mind that the unit of measurement is the median price for the month compared to the same month one year prior. Since the median is not an average, and since our neighborhoods contain a wide range of values, these numbers can be easily misunderstood. If a particular area, say Encinitas, sells more higher-end homes than lower or mid-range homes in the month of April, the results can be quite different.