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Posts tagged ‘San Diego housing market’

20
Oct

San Diego Housing Market Analysis 2017

San Diego Housing Market Analysis 2017

San Diego County Residential Real Estate Market Analysis: 3rd Quarter 2017 ©2017

2017 San Diego real estate San Diego Housing Market Analysis 2017
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.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.

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. Based on data from the first three quarters of 2017, the projected total number of units sold for the year will be 38,431, up from 36,236 sales in 2016 (see Figure 1).

San Diego real estate market

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17
Jun

Interest Rates Increase

Interest Rates Increase

3Br La Jolla Colony home rental Interest Rates Increase

For the second time this year the Federal Reserve Board has raised interest rates! it was March 15, 2017 that the Federal Reserve first raised interest rates this year. If you’d like to see that story on the first Federal Reserve rate increase, click this link: Fed raises interest rates

Although this was the second interest rate increase this year, it was also the third interest rate increase in the last six months! Read more »

8
May

California Home Hunting

California Home Hunting – The Millennial Home Buyer

This is a very humorous, and unfortunately very true ( especially here in California)   depiction of a young millennial trying to buy his first home.

I’m sure some might think this is true of our current housing market situation in California . . .  and it is!  but, the overpriced housing market in California has been around for decades!  what’s different now, is the fact that due to a shortage of available, and affordable homes in California the situation has been compounded in the last 2 to 3 years.

The last time I was working with a millennial couple looking for a two-bedroom condominium here in San Diego, it took over a year, and three different offers on properties, before we were able to close escrow on their first home.

Now, keep in mind that my first-time home buyer clients were well qualified for their price range, and with help from their folks were putting 20% down.  Yet it was very frustrating to find a decent property that did not have multiple offers on it within days of its original listing.

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1
May

Home Values Growth – Fastest Rate in Nearly Three Years

Home prices up at fastest rate in nearly three years!

2017 San Diego real estate - Home Values GrowthHome Values Growth – Case-Shiller index sees fastest growth since mid-2014.

In just one word, HOT, describes the US residential housing market right now!

Sure, there are many out there right now for forecasting the US housing bubble, or in the very least, a topping out for the momentum in the housing market. But, according to the latest S&P/Case-Shiller 20-city index report, it would seem that these negative forecasters are 180° off base! the latest S&P Case-Shiller 20 city index was up 5.7% when compared to the same time period last year. Read more »

23
Jan

San Diego Housing Market Analysis 4th Quarter 2016

San Diego Housing Market Analysis

San Diego home prices - San Diego County Residential Real Estate Market Analysis

©2016 By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.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).

 

san diego real estate market

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 »

3
Sep

San Diego Housing Market Forecast

San Diego housing market forecast 2015

The San Diego housing market is strong and still has only a two month homes for sale inventory.

The San Diego Association of Realtors recently reported that 2251 single-family homes sold in July. This amount was actually down approximately 11% from June, but still up 12% from a year ago.
Also, for June, it was reported that attached homes were down 8% in July from June but again the attached home sales were up approximately 14% in July when compared to July 2014. The median home price for July 2015 was reported to be $555,000, up from July 2014! Read more »

12
Aug

Most Expensive Housing Markets in the Nation

Most Expensive Housing Markets in the Nation

San Diego home prices - Most Expensive Housing Markets in the NationOf the five most expensive housing markets in the country, four them are here in California. Yes, San Jose, California, where Silicon Valley is located, has the distinction of having the nation’s highest median home price of $980,000!

In second place, is San Francisco with the median home price of $841,600. The Anaheim Santa Ana area of California comes in third with the median home price of $685,700. The fourth highest median home price in the country is not in California, but in Honolulu, Hawaii. The median home price in Honolulu is $698,600. Read more »

13
Aug

San Diego Real Estate Market 2014

San Diego real estate market 2014

San Diego California home prices

Yesterday, the San Diego Association of realtors reported that although the median San Diego home sales price has stabilized above $500,000, single-family home resales for July decrease by 13% compared to sales in June. During the same period, sales of previously owned condominiums and townhomes fell about 2%.

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25
Mar

San Diego Housing Market

San Diego Housing Market

The S&P/Case-Shiller index for January was just released today.

Jamul California home for saleThe good news, at least for San Diego home sellers, was that  for January 2014,San Diego had the most improved year-over-year home appreciation!

Yes, for January 2014 the case Shiller index showed that San Diego’s residential real estate market improved by an amazing 19.4%! Read more »

12
Feb

San Diego 2014 Real Estate

San Diego Real Estate

San Diego California home pricesDataquick, a real estate reporting company just issued a report that shows that San Diego housing market dipped slightly again in January as home sales hit their lowest levels in the past three years.

San Diego home prices also dipped in January with the median home price, falling $15,000 from December. But, even with that drop the January 2014 median San Diego home price was still up 15.7% from January 2012. Read more »