San Diego Real Estate Sales Up – Prices Down
San Diego real estate
San Diego Real Estate Sales
were up in a report released today by DataQuick of La Jolla Ca. The San Diego County August 2011 median home price fell to $337,000, down 5 percent from August 2010. The San Diego median home price was $517,500 in Nov. 2005. Read more 
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 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 Home Prices Up – Home Sale Down
San Diego home prices
The real estate reporting firm MDA DataQuick, reported today that the San Diego median home prices rose slightly by $500 from October to November to $335,000.
Single-family resale homes rose $1,000, from October to $370,000, which was 1.4 percent above year-ago levels. Resale condos also rose, though the $218,000 November median was down 3.1 percent from November’s $225,000.
That was the good news. The bad news reported in the MDA Dataquick report was that San Diego home sales were down for the fifth straight month in a row! The actual drop was 6.7 percent on a year-over-year basis. This continued drop in San Diego real estate sales is very troubling and for me, and a much more important fact than the modest price appreciation. If this trend continues, it’s just a matter of another month or so before the San Diego median home values also turn down.
San Diego Home Sales Take Huge Fall
San Diego home sale
The median price of a home in San Diego County increased 2.9 percent in October according to La Jolla-based MDA DataQuick. The same report showed home sales in San Diego County fell 25.1 percent in October, compared to the same month in 2009.
San Diego Home Sales Fall
San Diego home prices
Back on July 7th I posted “San Diego real estate 2010 2nd. Half Outlook … double-dips” where I predicted the San Diego real estate market was headed for a double dip. With yesterday’s report by MDA DataQuick, showing home sales in southern California fell 16 percent last month from a year ago, to reach their lowest level for that month since 2007. One should keep in mind September 2009 homes sales were also depressed. So, a 16% drop from last year is very telling. I believe my prediction of a San Diego double dip has unfortunately been fulfilled.
However, this same MDA DataQuick report showed median home price in Southern California rose nearly 8 percent last month from September 2009. What is really interesting about this is the fact that the San Diego home prices have been up month over month for most of 2010 and yet sales are falling!
Back on in 2005 I published “A Trend To Go National?” where I predicted the real estate sunami. At that time, I noticed even though month to month San Diego home prices were still rising, home sales number were falling. This is exactly the same situation we are now seeing in the San Diego housing market.
How can San Diego home prices continue to rise while home sales are off double digits?
Even during our seasonally peak home selling marking time from the spring through the summer, San Diego home sales fell once the government rebate ended.
Existing Home Sales Fall 27.2%
home sales
Existing home sales in the month of July fell by more than economists had anticipated, according to a report released this morning by the National Association of Realtors.
What is surprising is that they say economists were surprised by the news.
San Diego County Home Sales Fall 21 Percent
San Diego home sales
San Diego County home sales dropped 21 percent from June as reported by MDA DataQuick yesterday. This the slowest July since 1995. It was the lowest July for new-home sales since DataQuick began tracking the San Diego market in 1988.
The only good news was that the overall San Diego County median prices were up by $2,500 from June to $338,000.