San Diego Housing Market Analysis
©2016 By Mark A. Melikian California Certified Residential Appraiser email@example.com P.O. Box 3051 Del Mar, California 92014 858-945-8996
The following is a market data summary of detached and attached properties as reported by the San Diego County MLS system. The data includes all zip codes in San Diego County. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
San Diego Housing Market Overview: The data provided analyzes residential real estate sales beginning in the year 2000, which is used as the base year. The number of sold listings in San Diego County peaked in 2003 at 42,746 units and decreased through 2008 to 23,972 units. In 2016, the total number of units sold for the year was 36,236, up from 35,232 sales in 2015 (see Figure 1).
Market Overview: The monthly absorption rate (number of units sold in a given month) will mirror the trend we see in the number of sold listings. The peak monthly absorption rate occurred in 2003 with 3,562 units selling per month. In 2008, the monthly absorption rate decreased to a low of 1,998 units. The 2016 monthly absorption rate was 3,020 units, up from 2,936 units in 2015 (see Figure 2). Read more
www.brokerforyou.com – Website Traffic
For last month, www.brokerforyou.com, received over 27,000 unique visitors!
For those of you who may not know the difference between unique visitors and hits, there is a tremendous difference. Unique visitors are one visit to the website counted per unique IP address in a 24-hour period. Website hits, are just the number of individual image or graphic segments that load when a page is accessed. So, if you look at the chart above, you’ll note that for December 2016, www.brokerforyou.com received 27,437 unique visitors! If you look over on that same row to the last column that’s titled ‘hits’, you’ll see that we had 151,510 hits for December 2016. The huge disparity here is because if one page has 20 or 30 graphic elements that load when the page is accessed, you may have one unique visitor for that day, but, it would show that you had 20 or 30 hits. This is why the amount of hits that a site gets, is really irrelevant. Read more
The Trump Real Estate Effect 2017
I’m writing this in the first week of January 2017 and even though where a couple weeks away from the inauguration of Donald Trump, speculation abounds as to how his presidency will effect the real estate market.
While this speculation is going on, a dramatic effect on real estate is happening because just a couple of weeks ago the Federal Reserve Board increased interest rates. But, as I’ve said before, more importantly than the Federal Reserve Board’s interest rate increase was the fact that they stated that they would be raising the interest rates three more times in 2017.
Here in San Diego, with the average residential home price around half $1 million, it is already extremely hard for the majority of working people here to qualify for a home mortgage unless they put a substantial down payment. Naturally, as interest rates increase this will only make the situation worse. Read more