Tag Archives: San Diego County

Golden Hill, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006

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real estate50 Golden Hill, San Diego, Real Estate Market Trends, Single family Homes, Mid Year Analysis, 2006


The Golden Hill region is located near Downtown San Diego County, California. The community is located between Interstates 5 and 15, just south of the famous Balboa Park.

For the period observed (January through July 2006 compared against January through July 2005), the number of homes sold remained relatively consistent. Approximately 74 single-family homes sold in 2006 and 76 homes sold in 2005.

One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.

The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.

The median price of homes in July 2006 was $572,000, compared to $425,000 in July 2005, which represents a 34.6% increase. The average price of homes in July 2006 was $551,875, compared to $466,636 in July 2005, which represents a 19.5% increase. Approximately 8 homes sold in July 2006 and 11 in July 2005. In summary, there was an upward price trend in July 2006 compared to the same period last year.

The median price of homes in June 2006 was $451,500, compared to $540,000 in June 2005, which represents a 16.4% drop. The average price of homes in June 2006 was $457,600, compared to $514,846 in June 2005, which represents an 11.1% decline. Approximately 10 homes sold in June 2006 and 13 in June 2005. In summary, there was a downward price trend in June 2006 compared to the same period last year.

The median price of homes in May 2006 was $500,000, compared to $430,000 in May 2005, which represents a 13.9% increase. The average price of homes in May 2006 was $545,067, compared to $465,727 in May 2005, which represents a 10.5% increase. Approximately 15 homes sold in May 2006 and 11 in May 2005. In summary, there was an upward price trend in May 2006 compared to the same period last year.

The median price of homes in April 2006 was $442,500, compared to $510,000 in April 2005, which represents an 8.3% drop. The average price of homes in April 2006 was $448,071, compared to $512,067 in April 2005, which represents a 10.9% decline. Approximately 14 homes sold in April 2006 and 15 in April 2005. In summary, there was a downward price trend in April 2006 compared to the same period last year.

The median price of homes in March 2006 was $415,250, compared to $437,500 in March 2005, which represents an 8.2% decrease. The average price of homes in March 2006 was $451,886, compared to $428,375 in March 2005, which represents a 5.5% increase. Approximately 14 homes sold in March 2006 and 12 in March 2005. The data was mixed for March 2006, as the median price dropped and the average price increased from the same time last year.

The median price of homes in February 2006 was $452,500, compared to $512,500 in February 2005, which represents a 6.7% drop. The average price of homes in February 2006 was $483,128, compared to $503,625 in February 2005, which represents a 1.7% decline. About 8 homes sold in February 2006 and 8 in February 2005. In summary, there was a downward price trend in February 2006 compared to the same period last year.

The median price of homes was $455,000 in January 2006, compared to $500,000 in January 2005, which represents a 9% decline. The average price of homes in January 2006 was $446,280, compared to $467,483 in January 2005, which represents a 1.3% drop. Approximately 5 homes sold in January 2006 and 6 in January 2005. In summary, there was a downward price trend in January 2006 compared to the same period last year.

So what does the data tell us? Well, the data above does not reveal a consistent pattern. The home prices for May and July 2006 were up year-over-year in the range of 10% to 35% from the same period last year. However, prices were down 1% to 16% during January, February, April and June 2006, compared to the same time last year. The data for March 2006 was mixed, with the median price dropping 8.2%, and the average price increasing 5.5% for the same time last year. Given the ups and down described above, a longer period of evaluation is needed to determine if a clear pattern emerges. Contact an experienced Realtor to obtain additional insights about the pricing trends in the Golden Hill real estate market.



Pacific Beach, San Diego Real Estate, July 2006 Home Sales Data

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real estate46 Pacific Beach, San Diego Real Estate, July 2006 Home Sales Data


Pacific Beach is located on the central coast of San Diego County within the 92109 Zip Code. If you are interested in Pacific Beach real estate, then you should find the information below useful. The following summarizes sales data for detached single-family homes and attached condominiums and townhomes. This sales data covers the period from July 1, 2006 through July 31, 2006.

Approximately 18 detached single-family were homes were sold during July 2006. Of these 18 homes, the average asking price was $992,598. The average sales price was $946,211. This results in a sale price/list price (SP: LP) ratio of 96%, meaning that on average, sellers obtained 96% of their asking price. The average time to sell a home was 55 days.

A detailed evaluation of these 18 single-family homes is provided below.

a. Five of these homes had two or fewer bedrooms. The average list price was $702,400. The average sales price was $689,000. The SP:LP was 98%. The average time to sell this type of home was 57 days.

b. Nine of these homes had three bedrooms. The average list price was $1,089,975. The average ales price was $1,031,867. The SP:LP ratio was 95%. The average time to sell this type of home was 52 days.

c. Three of these homes had four bedrooms. The average list price was $1,025,000. The average sales price was $968,333. The SP:LP ratio was 95%. The average time to sell this type of home was 63 days.

d. One home sold with five or more bedrooms. The average list price was $1,470,000. The average sales price was $1,395,000. The SP:LP ratio was 95%. The average time to sell a home was 50 days.
Approximately 25 detached condominium or townhomes were sold in July 2006. The average list price of these 25 units was $650,072. The average sales price was $620,772. The SP: LP ratio was 96%. The average time to sell these units was 55 days.

A detailed evaluation of these 25 units is provided below.

a. Eighteen of these units had two or fewer bedrooms. The average list price was $536,877. The average sales price was $510,527. The SP:LP ratio was 96%. The average time to sell this type of unit was 65 days.

b. Six of these units had three bedrooms. The average list price was $926,166. The average sales price was $886,333. The SP: LP ratio was 97%. The average time to sell this type of unit was 28 days.

c. One of these units had four bedrooms. The list price was $1,031,000. The sales price was $1,011,800. The SP: LP ratio was 98%. The unit took 16 days to sell.

If you are interested in the Pacific Beach real estate market, contact a San Diego Realtor to assist you with the home buying process.



Key Shifts In San Diego County Demographic Patterns – Real Estate Implications

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real estate8 Key Shifts In San Diego County Demographic Patterns Real Estate Implications


On August 15, 2006, the US Census Bureau released its annual statistics for various communities. The data for San Diego County revealed some significant shifts from 2000 to 2005 in terms of the total population in San Diego, the percentage of males to females, percentage of people at various ages, and the racial composition of the County.

POPULATION SHIFTS

Total Population = 2,813,833 (CY 2000) vs. 2,824,259 (CY 2005) = 0.4% increase

Of the total population, there were shifts in the percentage of males to females.

Males = 1,415,097 (CY 2000) vs. 1,400,199 (CY 2005) = 1.1% decline.

Females = 1,398,736 (CY 2000) vs. 1,424,060 (CY 2005) = 1.8% increase.

AGE CHANGES

The percentage of people at various age also changed during this time period.

Median Age = 33.2 years (CY 2000) vs. 34.4 years (CY 2005) = 3.6% increase.

Population Under 5 Years of Age = 198,621 (CY 2000) vs. 221,575 (CY 2005) = 11.6% increase.

Population Under 18 Years of Age = 2,090,172 (CY 2000) vs. 2,067,282 (CY 2005) = 1.1% decline.

Population 65 or Older = 313,750 (CY 2000) vs. 310,836 (CY 2005) = 0.9% decline.

RACIAL COMPOSITION

Of individuals who defined themselves as belonging to one-race, the following statistics were provided:

Total Number of “One-Race” Individuals = 2,681,866 (CY 2000) vs. 2,730,721 (CY 2005) = 1.8% increase.

Individuals who defined themselves as belonging to one-race, were further categorized as follows:

White = 1,871,839 (CY 2000) vs. 1,927,166 (CY 2005) = 3% increase.

Black or African American = 161,480 (CY 2000) vs. 140,181 (CY 2005) = 13.2% decrease.

American Indian and Alaska Native = 24,337 (CY 2000) vs. 19,902 (CY 2005) = 18.2% decrease

Asian = 249,802 (CY 2000) vs. 295,926 (CY 2005) = 18.5% increase

Native Hawaiian and Other Pacific Islander = 13,561 (CY 2000) vs. 12,704 (CY 2005) = 6.3% decline.

Other Race = 360,847 (CY 2000) vs. 334,842 (CY 2005) = 7.2% decline.

Of those individuals who defined themselves as belonging to “two-races”, the following statistics were provided:

Total, Two -Race Individuals = 131,967 (CY 2000) vs. 93,538 (CY 2005) = 29.1% decline.

Hispanic or Latino (of any race) = 750,965 (CY 2000) vs. 843,901 (CY 2005) = 12.4% increase.

SHIFTS IN HOUSEHOLD CHARACTERISTICS

Total Household Population = 2,716,820 (CY 2000) vs. 2,824,259 (CY 2005) = 4% increase.

Average Household Size = 2.73 (CY 2000) vs. 2.71 (CY 2005) = 0.7% decrease.

Average family size = 3.29 (CY 2000) vs. 3.33 (CY 2005) = 1.2% increase.

IMPLICATIONS FOR SAN DIEGO REAL ESTATE

If you are interested in buying San Diego real estate, homes, condos or townhouses for sale, then the above information may be useful to you. The information above can help you understand demographic and population shifts that impact supply, demand, and price of real estate and homes for sale in San Diego.

San Diego is one of the most popular areas in the Country because of its moderate climate. In fact, the year-around average weather in San Diego is around 70 degrees Fahrenheit.

San Diego real estate is also popular because of its proximity to the Pacific Ocean, mountains and the US-Mexico border. Bordered by Orange County and Riverside County to the north, and the Mexico to the south, San Diego real estate has hundreds of beachfront properties for sale.

San Diego is the sixth most populated County in the Nation. With this many people, buying real estate in San Diego can be a competitive process depending on the supply and demand of real estate and homes for sale at a particular time.

While interest rates are still relatively low and supply relatively high, buyers at this time may find San Diego real estate a good value.

Those who purchase San Diego real estate enjoy year-around perfect weather, easy access to the Mexico border, a thriving job market, and the pleasures of living close to an ocean.

Whether you are interested in boating, fishing, golfing, tennis or other hobbies, residents and visitors who own San Diego real estate have access to all these activities and more.

Please visit the Census Bureau’s web site for detailed demographic information about San Diego County. The Census Bureau provides key statistics for various communities in its annual American Community Survey (ACS) report.



Coronado, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006

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real estate17 Coronado, San Diego, Real Estate Market Trends, Single family Homes, Mid Year Analysis, 2006


The community of Coronado is located on the central coast of San Diego County. This 13.5 square mile peninsula is accessible via the famous Coronado Bay Bridge, by water ferry from Downtown San Diego, or through Imperial Beach via highway 75.

The real estate and homes for sale in Coronado are some of the most expensive properties in San Diego County. The number of homes sold in a particular year is relatively low. For example, during the period from January through July 2006, approximately 64 single-family homes sold. Approximately 79 homes sold for the same period in 2005. The price of homes in Coronado varies widely from moderately priced small cottages to multi-million dollar estates.

One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.

The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.

The median price of homes in July 2006 was $1,505,000, compared to $1,481,250 in July 2005, which represents a 1.6% increase. The average price of homes in July 2006 was $1,795,179, compared to $1,603,214 in July 2005, which represents an 11.5% drop. Approximately 7 homes sold in July 2006 and 14 in July 2005. In summary, the data was mixed for July 2006, with the median price posting a small increase and the average price dropping 11.5%.

The median price of homes in June 2006 was $1,775,000, compared to $1,570,000 in June 2005, which represents a 13.1% increase. The average price of homes in June 2006 was $1,998,860, compared to $1,778,214 in June 2005, which represents a 12.4% increase. Approximately 15 homes sold in June 2006 and 21 in June 2005. In summary, the data provides evidence that there was an upward price trend in June 2006 compared to the same period last year.

The median price of homes in May 2006 was $1,200,000, compared to $1,390,000 in May 2005, which represents a 13.7% drop. The average price of homes in May 2006 was $1,576,429, compared to $1,615,692 in May 2005, which represents a 2.4% drop. Approximately 7 homes sold in May 2006 and 13 in May 2005. In summary, the data provides evidence that there was a downward price trend in May 2006 compared to the same period last year.

The median price of homes in April 2006 was $2,250,000, compared to $1,450,000 in April 2005, which represents a 55.2% increase. The average price of homes in April 2006 was $2,667,200, compared to $1,731,524 in April 2005, which represents a 54% increase. Approximately 10 homes sold in April 2006 and 7 in April 2005. In summary, the data provides evidence that there was a significant upward price trend in April 2006 compared to the same period last year.

The median price of homes in March 2006 was $1,650,000, compared to $1,780,000 in March 2005, which represents a 7.3% drop. The average price of homes in March 2006 was $2,219,667, compared to $1,774,667 in March 2005, which represents a 25.1% increase. Approximately 15 homes sold in March 2006 and 9 in March 2005. In summary, the data was mixed for March 2006, with a drop in median price and an increase in average price.

The median price of homes in February 2006 was $1,185,000, compared to $875,000 in February 2005, which represents a 35.4% increase. The average price of homes in February 2006 was $1,327,000, compared to $1,011,667 in February 2005, which represents a 31.2% increase. Approximately 5 homes sold in February 2006 and 3 in February 2005. In summary, the data provides evidence that there was an upward price trend in February 2006 compared to the same period last year.

The median price of homes was $1,700,000 in January 2006, compared to $1,531,500 in January 2005, which represents an 11% increase. The average price of homes in January 2006 was $1,599,000, compared to $1,717,750 in January 2005, which represents a 6.9% drop. Approximately 5 homes sold in January 2006 and 12 in January 2005. In summary, the data was mixed for January 2006, with a jump in median price and a decline in average price.

So what does the above data tell us? Overall, there was a 19% decline in the number of homes sold during this period from 2006 to 2005. Besides that, the Coronado real estate market is very hard to characterize because of the limited number of homes that sell every month, and the wide variation in home prices. The median and average prices fluctuated substantially depending on whether or not very expensive homes sold that month or not. Prospective home buyers should seek the advise of an experienced real estate agent to help them understand the micro pricing trends of homes in their price range.



Tips For Military Home Buyers Who Are Buying San Diego Real Estate

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real estate42 Tips For Military Home Buyers Who Are Buying San Diego Real Estate


San Diego County is home to one of the largest concentrations of military bases in the United States. In fact, the San Diego area contains 12 major Marine Corps and Navy bases and facilities. If you’re in the military and moving to San Diego, one of your biggest decisions is whether to buy a property, live on base housing (if this option is available to you), or rent a home or apartment. If you choose to buy a property, there are many issues to consider before taking this step.

BUY OR RENT?

The decision to buy or rent is more complicated for military personnel because you may be assigned to San Diego only for a limited period of time. If you plan to purchase while in San Diego and then sell when you transfer, the condition of the real estate market at the time you sell will make this either an easy or difficult process. In a seller’s market (when demand exceeds supply), properties tend to sell quickly and at or above asking price. In a buyer’s market (when supply exceeds demand), properties usually take much longer to sell and may sell below asking price. Individuals in the military should consider this issue in determining whether to buy or rent real estate in the San Diego area.

For those who choose to buy, the major other consideration is the likely appreciation rate of your property during your tenure in San Diego. If you plan to sell your property before you depart to your next assignment, you should remember that there are expenses (e.g. realtor fees, taxes, etc.) associated with selling your house, and any price appreciation you realize by owing the property for a few years, may or may not be offset by these fees.

Some individuals choose to keep their property even after they transfer to a new assignment outside of San Diego. In these cases, you can rent out the property, leave it empty, or find another acceptable use of the dwelling. If you choose to hire a Property Manager to oversee the renting and maintenance of your property, keep in mind that the fess for this service will cut into any monthly profit you realize on the property.

GETTING A HOME LOAN?

If you decide to purchase a property, obtaining a home loan is one of the tasks you must undertake. Many active-day members, retirees and other service veterans are eligible for special loan programs guaranteed by the Veterans Administration (VA).

To be eligible for a VA guaranteed loan, you must have served on activity duty and have a discharge status of other than dishonorable after a minimum of 90 days of service during wartime, or a minimum of 181 continuous days during peacetime. There is a minimum 2-year service requirement for veterans who enlisted after September 7, 1980. The 2-year requirement also applies to Officers who began service after October 16, 1981. There is a minimum 6-year service requirement for National Guard members and Reservists, and surviving spouses are also eligible under some conditions. There are other special conditions in which a person may be eligible, so contact your local VA office to get more information.

WHAT IS VA GUARANTEED LOAN?

The VA loan is a federal guarantee of a maximum of 25% of a home loan amount but not to exceed $104,250. This formula allows eligible members to obtain a maximum loan amount of $417,000 (as of 2006). However, service members must meet other eligibility requirements. Individuals borrowing using this type of loan must intend to be occupants of the purchased property.

Private lenders are the source of funds for VA guaranteed loans. The guarantee provides these private lenders assurance that the federal government will reimburse the lender up to the maximum allowable amount if the borrower fails to repay the loan. Because of this guarantee, lenders are more favorable to offering loans without a requirement for a down payment.

VA CERTIFICATE OF ELIGIBILITY

Individuals desiring a VA guaranteed loan must first obtain a Certificate of Eligibility from the Veterans Administration (VA Form 26-1880). Contact your local VA office to obtain this form by calling 1-888-244-6711. You will need a copy of your military discharge document (DD-214) to submit with your application. Once you have the Eligibility Certificate, you can then select a lender or mortgage broker to work with on getting the loan.

CLOSING COSTS

In addition to the purchase price of your property, there are closing costs that must be paid to process your home loan. These closing costs are fees that are charged by different service providers to help complete the loan process. For example, your lender will require an appraisal of the property to make sure that its value is at or above your purchase price. Other charges commonly included in closing costs are: recording fees, credit report fee, prorated taxes and assessments, hazard insurance, flood insurance (if required), survey, title examination, title insurance, postage and shipping fees, and the VA Funding fee.

WHAT IS THE VA FUNDING FEE?

The VA charges a fee to individuals utilizing the VA guaranteed loan. This fee is a percentage of the loan amount and is linked to the size of your down payment on the home you plan to purchase.

For active-duty personnel or veterans who put no money down, the funding fee is 2.15% of the loan amount. This rate increases to 2.4% for National Guard/Reserve.

For active duty personnel or veterans who put a down payment greater than zero but less than 10% of the loan amount, the fee is 1.5% of the loan. This rate increases to 1.75% for National Guard/Reserve.

For active duty personnel or veterans who put a down payment of 10% or more of the loan amount, the fee is 1.25% of the loan. This rate increases to 1. 5% for National Guard/Reserve.

The rates listed above are for first time users of the VA loan guarantee program. Individuals who have used the VA guaranteed loan program before pay higher rates than first time users. The rates above are subject to change. In some limited cases, individuals are exempt from paying the funding fee. You should contact your local VA center for current information.

CHOOSING A VA LOAN VS. A CONVENTIONAL LOAN

You must carefully evaluate the terms of the VA guaranteed loan vs. the terms of a conventional loan. One advantage of a VA guaranteed loan is that many lenders will not require you to put a down payment on the purchase of the property, assuming you meet their other lending criteria (e.g. credit scores, sufficient income, adequate debt to income ratio, etc.). There are also many zero down payment conventional loan programs. In some cases, the VA guaranteed loan will offer a lower interest rate and better terms, and in other cases, you can obtain a better deal through conventional financing. A good loan officer can help you evaluate the advantages of either loan, given your particular situation.

FINDING THE RIGHT HOME

If you are familiar with the San Diego area, then you probably already know where you want to live. If you are less familiar with the communities in San Diego, your Realtor can serve as an excellent resource to answer your questions. There are many steps to take during the home search process, which include:

1. Work with your loan officer to identify how much you can afford.

2. Determine what type of property you want to buy (single-family home, townhouse, condominium, other). Your Realtor can advise you about the differences between these types of properties.

3. Determine how many bedrooms, bathrooms, square footage, etc. you need.

4. Determine what areas of San Diego you would consider living in.

5. Calculate the drive time (with and without traffic) to your job.

6. Identify the quality of schools in the neighborhoods that you are considering.

7. Locate the crime statistics for the neighborhood that you are considering.

8. Identify the location of local community resources such as libraries, shopping centers, athletic centers, etc.

9. Ask your Realtor to advise you about the resale potential of the home you are considering.

Although there are many other factors to consider, the above is a good starting point. Your Realtor should be able help you get answers to the questions above as well as provide you many other resources. Keep in mind that most Realtor’s who assist homebuyers and paid by the home seller, but make sure to ask your Realtor about this.

HOW MUCH SHOUD I PAY FOR A HOUSE?

Your Realtor should be an excellent source of information to help you understand a fair offer price. The Realtor should provide you information about what other similar properties in the same community have sold for recently, current pricing trends for the community, as well provide you a recommendation based on their experience in the local market.

DO I NEED A HOME INSPECTION?

There are many other issues besides the offer price to consider when making an offer. For example, many buyers find it advantageous to get an inspection of the property by a qualified inspector. The inspection typically covers the major systems of a property. Check out the National Association of Home Inspectors web site for more information about what is covered in a typical home inspection. Getting a home inspection is generally a good idea.

HOW LONG WILL THIS TAKE?

If you want to use the VA guarantee, then make sure you have obtained the Certificate of Eligibility far in advance of your relocation to San Diego. Whether or not you are using the VA loan program, be sure to obtain a loan pre-approval (sometimes called loan prequalification) from a lender or mortgage broker. This lets home sellers know that you are a serious buyer and are ready to act quickly if needed.

Prior to moving to San Diego, get a sense of the local real estate market. Your Realtor can set up an automatic email notification system that will send you descriptions and pictures of properties that meet your criteria. Doing this type of research should save you a lot of time when you arrive.

Once you have your loan pre-approval, the next step is to locate a property that meets your needs. Your Realtor should show you a variety of available properties that meet your criteria. Once you find a house you an interested in, your Realtor will prepare the purchase offer documents, and guide you through the loan and closing process.

In summary, it’s simply a process of getting a loan, finding a house that you like, making an offer that is accepted, and going through the closing process, which can occur in less than 30 days.

CONTACT A SAN DIEGO REALTOR

If you are moving to San Diego, contact a Real Estate agent who is familiar with VA guaranteed loans and has experience working with military buyers. Many agents have prior military service themselves, and are very familiar with your situation and needs.



Clairemont, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006

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real estate32 Clairemont, San Diego, Real Estate Market Trends, Single family Homes, Mid Year Analysis, 2006


The community of Clairemont (sometimes called Clairemont Mesa) is located in central San Diego County, California. The community is located off Interstate 5 at Balboa Ave and is within the 92117 Zip code.

The real estate and homes for sale in Clairemont fall into the moderate-income category for San Diego County. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 183 single-family homes sold. Approximately 226 homes sold for the same period in 2005.

One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.

The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.

The median price of homes in July 2006 was $560,000, compared to $562,500 in July 2005, which represents a 0.9% drop. The average price of homes in July 2006 was $575,114, compared to $585,602 in July 2005, which represents a 2.4% drop. Approximately 21 homes sold in July 2006 and 26 in July 2005. The data provides evidence that there was a downward price trend in July 2006 compared to the same period last year.

The median price of homes in June 2006 was $555,000, compared to $570,000 in June 2005, which represents a 2.6% drop. The average price of homes in June 2006 was $586,758, compared to $584,415 in June 2005, which represents a 0.4% increase. Approximately 30 homes sold in June 2006 and 34 in June 2005. The data for June 2006 was mixed, as median prices declined and average prices rose slightly from the same period last year.

The median price of homes in May 2006 was $550,000, compared to $562,000 in May 2005, which represents a 2.3% drop. The average price of homes in May 2006 was $584,012, compared to $582,000 in May 2005, which represents a 0.3% increase. Approximately 33 homes sold in May 2006 and 37 in May 2005. The data was mixed in June 2006, as median prices declined and average prices rose slightly from the same period last year.
The median price of homes in April 2006 was $564,000, compared to $565,000 in April 2005, which represents a 0.20% drop. The average price of homes in April 2006 was $584,722, compared to $612,897 in April 2005, which represents a 4.6% drop. Approximately 32 homes sold in April 2006 and 36 in April 2005. The data provides evidence that there was a downward price trend in April 2006 compared to the same period last year.

The median price of homes in March 2006 was $558,000, compared to $545,000 in March 2005, which represents a 1.5% increase. The average price of homes in March 2006 was $589,161, compared to $576,227 in March 2005, which represents a 3.60% increase. Approximately 29 homes sold in March 2006 and 39 in March 2005. The data provides evidence that there was an upward price trend in March 2006 compared to the same period last year.

The median price of homes in February 2006 was $560,000, compared to $525,000 in February 2005, which represents a 7.4% increase. The average price of homes in February 2006 was $582,435, compared to $571,708 in February 2005, which represents a 2.50% increase. Approximately 17 home sold in February 2006 and 29 in February 2005. The data provides evidence that there was an upward price trend in February 2006 compared to the same period last year.

The median price of homes was $585,000 in January 2006, compared to $525,000 in January 2005, which represents a 10% increase. The average price of homes in January 2006 was $634,524, compared to $542,708 in January 2005, which represents a 16.9% increase. Approximately 21 homes sold in January 2006 and 25 in January 2005. The data provides evidence that there was an upward price trend in January 2006 compared to the same period last year.

So what does the above data tell us? Overall, there was a 19% decline in the number of homes sold during this period from 2006 to 2005. The pricing trends early in the year (January, February and March) were in the upward direction for both median and average prices, which showed increases year-over-year ranging from 1.5% to 16.9%. However, since then, the pricing trend has been downward or mixed depending on the month. For example, April and July demonstrated downward median and average prices ranging from around half a percent up to 5%. For May and June, the median price was down around 2% from the previous year, and the average price was slightly up around half a percent. These findings suggest that at best, prices have leveled off, and at worst, are starting to decline. Continued monitoring of sale data in subsequent months is needed to identify enduring market trends.

Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Clairemont.



College Grove, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006

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real estate48 College Grove, San Diego, Real Estate Market Trends, Single family Homes, Mid Year Analysis, 2006


The College Grove region (also know as the College Area) is located in central San Diego County, California. The community is located off Interstate 8 just east of Interstate 15. San Diego State University is located within the borders of the College Grove area.

The real estate and homes for sale in College Grove fall into the low to mid-income categories. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 211 single-family homes sold. Approximately 268 homes sold for the same period in 2005.

One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.

The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.

The median price of homes in July 2006 was $545,000, compared to $497,000 in July 2005, which represents a 9.2% increase. The average price of homes in July 2006 was $583,476, compared to $528,602 in July 2005, which represents a 10% increase. Approximately 25 homes sold in July 2006 and 38 in July 2005. The data provides evidence that there was an upward price trend in July 2006 compared to the same period last year.

The median price of homes in June 2006 was $475,000, compared to $506,500 in June 2005, which represents a 5.9% drop. The average price of homes in June 2006 was $492,427, compared to $516,078 in June 2005, which represents a 4.1% drop. Approximately 38 homes sold in June 2006 and 40 in June 2005. The data provides evidence that there was a downward price trend in June 2006 compared to the same period last year.

The median price of homes in May 2006 was $522,000, compared to $518,500 in May 2005, which represents a 0.7% increase. The average price of homes in May 2006 was $544,812, compared to $537,085 in May 2005, which represents a 1.4% increase. Approximately 30 homes sold in May 2006 and 46 in May 2005. The data provides evidence that there was slight upward price trend in May 2006 compared to the same period last year.

The median price of homes in April 2006 was $520,000, compared to $495,000 in April 2005, which represents a 5.1% increase. The average price of homes in April 2006 was $523,421, compared to $524,306 in April 2005, which represents a 0.2% drop. Approximately 41 homes sold in April 2006 and 47 in April 2005. The data for April 2006 was mixed, as the median price showed a moderate increase from last year, while the average price had a slight drop.

The median price of homes in March 2006 was $515,000, compared to $489,000 in March 2005, which represents a 5.3% increase. The average price of homes in March 2006 was $564,690, compared to $499,856 in March 2005, which represents a 13.4% increase. Approximately 41 homes sold in March 2006 and 44 in March 2005. The data provides evidence that there was an upward price trend in March 2006 compared to the same period last year.

The median price of homes in February 2006 was $472,500, compared to $465,000 in February 2005, which represents a 0.50% increase. The average price of homes in February 2006 was $502,600, compared to $476,932 in February 2005, which represents a 4.6% increase. Approximately 20 homes sold in February 2006 and 25 in February 2005. The data provides evidence that there was an upward price trend in February 2006 compared to the same period last year.

The median price of homes was $530,950 in January 2006, compared to $483,000 in January 2005, which represents a 9.9% increase. The average price of homes in January 2006 was $528,416, compared to $551,904 in January 2005, which represents a 3.20% drop. Approximately 16 homes sold in January 2006 and 28 in January 2005. The data for January 2006 was mixed, as the median price showed a moderate increase from last year, while average prices dropped.

So what does the above data tell us? Overall, there was a 21.3% decline in the number of homes sold during this period from 2006 to 2005. Four months out of seven (February, March, May and July) demonstrated increases in both median and average prices from the same period last year. The magnitude of the increase ranged from half a percent to 10%. The months of April and January had mixed findings, with average prices decreasing slightly (less than 3.2%), and median prices increasing 5% to 10%. In contrast, the June data showed a downward trend in both median and average prices with a range of 4% to 6%.

The data above suggests that although there are monthly variations, on balance, homes in the College Grove area continue to demonstrate price gains. Continued monitoring of sale data in subsequent months is needed to identify enduring market trends.

Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in College Grove.