California Home Price Outlook
In the April 2010 issue of Money magazine, they produced a table projecting where home prices may be at the end of the year. We took the home values from six California cities in this data table and produced the graph below. The good news for San Diego homeowners is that they projected San Diego’s median home price to just decline -0.3%.
California Home Price Outlook
Orange County California real estate attorneys
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San Diego California homes
San Diego Real Estate Sales – Double Digit Value Drops
In the table below, www.brokerforyou.com looked at selected San Diego neighborhoods that had 20 or more closed single family homes & condominium sales in February 2009 & February 2008. The graph show the median sales prices.
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 (February 2009 vs. February 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’s Future Homes
What will San Diego new homes look like in 2015? For starters, they’ll be slightly smaller than they are today, according to designers and manufacturers surveyed by the national Association of Home Builders. The average size of a new home will be 2,300 to 2,500 square feet. Higher ceilings and upscale amenities will also become more common.
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