San Diego Home Prices -San Diego Home Sales Drop
San Diego home prices and San Diego home sales both slipped in July. This was the conclusion from the latest report released by Dataquick, a real estate tracking company.
San Diego County home sales dropped 0.9 percent in July, compared to a year ago, while prices fell by 3.8 percent.
One should keep in mind that if this latest report is comparing home prices and home sales to a year ago, the San Diego real estate market at that time was also extremely weak. So, to have a drop from the July 2010 levels, is ominous in and of itself.
What’s being overlooked here, is the fact that this drop in both sales and home prices is occurring during this seasonally strongest time for real estate sales!
San Diego County Housing Market
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2011
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-793-9339
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 2011 data in figures 1 through 4 will be projected based on market data taken from January through June as reported by the San Diego County MLS system. All projections discussed in this analysis will be updated throughout the year in subsequent quarterly reports.
San Diego Real Estate 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 peaks in 2003 at 42,746 units and decreases through 2008 to 23,972 units. *The 2011 projection shows the total number of units sold for the year will be 31,190 (see figure 1).
Read more 
San Diego Home Sales Double Dip
San Diego home sales fell 20% in May according to a report issued today by Dataquick. DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. Keep in mind that from March through August is typically the hottest time for real estate activity. So, a 20% drop in home sales right in the middle of this period is a harsh reality for those in double dip denial. Read more
San Diego Real Estate – A Bottom … Not A Reversal
When the San Diego real estate market hits bottom, it will be just that, a bottom, not a reversal. Don’t believe that home prices will spike up and shoot back up to pre-bust levels any time soon! I find that highly doubtful even if the economy were healthy in other sectors because who is going to fuel this reversal? Will it be the people who have foreclosures and short sales on their credit history, or another group of salivating sub-prime buyers?
Credit is tightening up to the point that home buying is truly back to where you actually have to put 5 to 20% down and have a decent credit rating. That will restrict the pool of available buyers considerably, which will prevent another ridiculous up-ride on the home price roller coaster.
The “bottom” will be the new median home price, according to what the local marketplace and income levels dictate, with modest year to year appreciation.
Until the ‘real’ bottom is reached in the San Diego real estate market, expect many false upward spikes driven by people looking at only one set of data and incorrectly timing the best time to buy.
Related prior posts:
#1 Key To Purchasing Real Estate in the San Diego Market
San Diego California Home Sellers Lose Big
The San Diego California Real Estate Great Depression
Believe the local San Diego ‘experts’ that subprime delinquencies are slowing?
San Diego County Foreclosures up 125% from 2007
Jumbo Financing and the Impact on The San Diego Real Estate Market
Another Look at the June Rise in Pending Home Sales
San Diego Home Sales
San Diego home sales recorded in March 2011. Percent Change is for the median price from the same month last year. This selected data is from published data from DataQuick — the nation’s leading independent provider of real estate information and analysis.
San Diego Real Estate Resales
| San Diego Neighborhood | Single-Family % Chg | Condominiums % Chg |
| Allied Gardens, Del Cerro | -9.8% | -18.9% |
| Clairemont | -15.3% | 37.3% |
| College | -1.2% | -8.0% |
| Downtown | n/a | -16.6% |
| Mission Valley | n/a | -22.3% |
| San Carlos 92119 | -4.9% | -24.8% |
| Scripps Ranch | -7.9% | -19.2% |
| Sorrento Valley | -8.1% | -4.5% |
| Tierrasanta | -5.9% | -16.2% |
| University City | -0.8% |
-24.7% |
San Diego real estate
San Diego Real Estate Sales
San Diego home prices
A report from the San Diego Association of Realtors shows that in the first three months of this year, home sales were down 4 percent compared to the first quarter of last year, but, even more troubling was a 9.5 percent drop in condominium sales for the same period.