The convenient location of the Community of Mira Mesa makes it an extremely popular community for virtually everyone living in San Diego whether they need to commute north or south for work. Located just northeast of La Jolla where the Scripps Research Institute is located, and just south from Del Mar Heights where ultra-high density living is the norm for those wishing to live within walking distance to their jobs; Mira Mesa offers so much more. Single family detached homes are the much more readily available and the prices more affordable, although, due to the popularity of Mira Mesa, these positives have already been discovered and the sales numbers for August 2014 versus August 2013 as collected from the Sandicor MLS for single family detached homes will prove:
- · The median sales price of SFR properties for 8-2013 was $448,000 vs. $477,500 on 8-2014. That represents a median sale price increase of slightly less than 7%!
- · The percentage of the List Price captured in 8-2013 was 103.1% vs. 98.0% for 8-2014.
- · The average price per square foot for sold homes was $325.00 in 8-2013 vs. $347.00 for 8-2014.
- · The number of months’ inventory available for sale in 8-2013 was 2.0 vs. 2.3 for 8-2014.
- · The number of Active listings is flat at 72 for 8-2013 vs. 75 for 8-2014.
Potential buyers should review these numbers realizing that though the sample size is not large enough for total accuracy; the trends are clear. Sellers seem to be slightly more willing to consider less than full price, or over offers for their homes, but the momentum of the price increase still indicates at the current inflation rate for home values that the sellers are still coming away from the closing table with more money in hand since the price per square foot has increased just as the median sales price. The months of inventory shows the absorption rate is fairly constant as the inventory levels remain somewhat static.
With the absolute convenience of shorter commutes to all points north, and south due to the easy access of I-15 and I-5, and the proximity of great shopping in University City with one of the newest Whole Foods Markets, the fabulous our door Westgate Mall with stores like Tesla, Sony and excellent restaurants like PF Chang’s; then the short drive to Del Mar Beach; it doesn’t get much better than this!
