San Diego Home Price Drops
In the table below, www.brokerforyou.com looked at selected San Diego neighborhoods that had 15 or more closed single family homes & condominium sales in May 2009 & May 2008. The graph shows the median sales prices.
The largest drop in San Diego home values on this chart was for Mission Valley. Mission Valley is composed of all condominiums and San Diego condominium values have been leading the value declines throughout San Diego County.
San Diego Home Price Drops
Data compiled by MDA DataQuick & published in the San Diego Union-Tribune. Chart produced by www.brokerforyou.com
One should keep in mind the above chart is just for a one year period (May 2009 vs. May 2008) and San Diego home values topped out around the Summer of 2005!
Lastly, I would note that these figures do not take into account the very prevalent seller concessions (usually payment of thousands in the buyer’s closing costs) necessitated by an ultra strong buyers market place.
San Diego downtown real estate
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San Diego California home prices have a great deal further to fall as unemployment starts to affect prices.
San Diego investment property
It seems San Diego has gone from boom to bust overnight.
In the long term real estate always bounces back and people should take advantage of these slow periods if they really want to get a good return on their investments
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Real estate should always be thought of as long term investments. People who buy properties whether in San Diego or anywhere else must realize that the potential for loss is ever present.
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