Chula Vista 91915 Real Estate Market Conditions 2007 October

By
Real Estate Agent with The Lewis Team at Keller Williams Cal BRE #01352522

Chula Vista 91915 Real Estate Market Conditions

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Zip Code 91915

Homes for Sale in Chula Vista 91915 California Real Estate Update

Chula Vista 91915 an area that includes EastLake Trails, EastLake Greens, EastLake Vistas, The Summit at EastLake and Windingwalk in Otay Ranch had 14 homes close escrow in September of 2007. The average sold Chula Vista Map 91915 Zipprice was $662,961 with an average list price of $683,861. The highest priced home sold in 91915 Chula Vista in September was $1,200,000 and was 4 bedrooms, 3.5 baths and 3,517 square feet in EastLake Vistas. The lowest priced home sold was $396,000 and was 3 bedroom, 2.5 bath and 1,341 square feet located in EastLake Greens. The average market time was 60 days with the longest being 153 days on the market.

91915 as well as many other areas of Chula Vista have been hit hard with bank foreclosures and short sales. Out of the 14 homes selling in 91915 Chula Vista in September 2007:

6 were bank owned foreclosures
1 was a short sale
1 was an auction
2 were new home sales in the MLS
4 were normal "regular" sales.

A time snapshot shows us that in:

September 2007 14 homes sold
September 2006 17 homes sold
September 2005 31 homes sold
September 2004 37 homes sold

The gradual decline from the 2004 Chula Vista real estate surge is evident in the lower sales numbers. Since most sales are now bank foreclosures and many are short sales, auctions and new home sales in the Chula Vista area, this is really putting sellers in a position to sell for less than they wanted too or keep the property.

There are currently 291 homes for sale in 91915 and 22 homes in escrow. Statistics show that many of these will fall out of escrow and come back on the market for sale. The average list price for homes in escrow is $633,742 with the highest priced home in escrow at $1,085,000 and the lowest at $444,900. The average days on market is 102 days with the longest being 381 days. The breakdown of homes in escrow is:

7 bank owned foreclosures
7 short sales
2 new home construction in the MLS
6 normal "regular" sales - 2 of the 6 are agent owned

There were 26 expired listings, 21 cancelled listings, and 21 withdrawn listings that were homes in the month of September of 2007 in Chula Vista 91915.

 

Condos for Sale in Chula Vista 91915 California Real Estate Update

There was 1 condo that closed escrow in Chula Vista 91915 for the month of September in 2007. It was 2 bedrooms, 2.5 baths, and 1,189 square feet located in Antigua in EastLake next to EastLake High School. This condo sold for $295,000 and was on the market for 8 days. A time snapshot shows us these 91915 Chula Vista Condo statistics:

September 2007 condo sales 1
September 2006 condo sales 8
September 2005 condo sales 17
September 2004 condo sales 4

The September 2004 stat at 4 condos was only because most of the condos that are in 91915 today weren't built yet or were being built and were new. These stats won't show here. If there were more resale condos at the time the 2004 number would be higher than the 2005 number. You can see the drop in sales from 2005 to 2006 is half the number and from 2006 to the 2007 numbers are down by 7 homes to only 1 sale. I like to hear agents put positive spins on everything but if you're selling a condo in 91915 these stats should have you concerned. If you're buying you should be able to find a deal and make sure you buy your condo in Chula Vista for a low price. Call us to help you with selling or buying in Chula Vista.

There are currently 106 condos on the market in Chula Vista in the 91915 zip code. With only 1 condo selling last month I'm not sure how many of the 23 condos in escrow will actually close but my estimate is much much lower than 23. The average list price for condos in escrow is $378,528 with an average market time of 48 days. Most of these are bank owned foreclosures and short sales. There were 8 expired listings, 9 cancelled listings, and 3 withdrawn listings that were condos in the month of September in Chula Vista 91915.

For all Market Conditions in Chula Vista and San Diego visit my San Diego Real Estate Blog.

When you need help with your Chula Vista Real Estate purchase or sale please contact Dawn Sells San Diego - We're ready to help

 

Please use the links below to help you with your San Diego Real Estate Search and Information from your San Diego Realtor.

San Diego Real Estate              San Diego MLS 

San Diego Relocation                San Diego Home Search by Map

San Diego Home Buyers           San Diego Home Sellers

San Diego House Values           Local Real Estate Information

San Diego Real Estate Blog      Chula Vista Real Estate

San Diego Foreclosures            San Diego Green Homes

All information is believed to be correct but not guaranteed.

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Rainer
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Keith Perry
Coldwell Banker - Hiram, GA
REALTOR - West Metro Atlanta
Great post Mike, very well written and something to be proud of.
Oct 27, 2007 10:53 AM #1
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Keith,

Thanks and it took quite some time.

Mike Lewis

Oct 27, 2007 01:29 PM #2
Rainer
18,004
Beatrice Cooper,
Finacial Destination - Cape Coral, FL

You must really dedicate yourself to you job.  Just a little tip,  Go out and smell the roses.

You need a break.  Good pictures.  Would love to visit Cal. some day.

Nov 02, 2007 03:40 PM #3
Rainmaker
214,937
Mike and Dawn Lewis
The Lewis Team at Keller Williams - San Diego, CA
The Lewis Team at Keller Williams in San Diego CA

Beatrice, 

I am on break - I'm blogging from a Torrey Pines High School Football game from a X61 tablet in test phase. I smell the roses every day. You would like Cali - I know a great agent!

Thanks

Nov 02, 2007 03:46 PM #4
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Rainmaker
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Mike and Dawn Lewis

The Lewis Team at Keller Williams in San Diego CA
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