2018 San Diego Real Estate Market Analysis
2018 San Diego Real Estate Market Analysis
San Diego County Residential Real Estate Market Analysis: 1st Quarter 2018
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-945-8996 ©2018
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. In 2018, the total number of units sold, based on first quarter results, is projected to be 27,596, down from 35,200 sales in 2017 (see Figure 1).
Market Overview: The monthly absorption rate (number of units sold in a 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 2018 projected monthly absorption rate, based on first quarter results, is 2,300 units, down from 2,933 units in 2017 (see Figure 2). Read more 
California’s HOT Real Estate Market
California’s HOT Real Estate Market
Data from the California Association of realtors shows that the average residential detached home sales price it $605,000 in December 2017! in January 2018, the average residential detached home in San Diego selling price was actually a little lower and came in at $590,000!
California’s HOT Real Estate Market
Now, $590,000 for the average detached home in San Diego is a hell of a lot of money! But, for comparison purposes, out of the six Southern California areas ( Los Angeles, Orange,Riverside, San Bernardino, San Diego, and Ventura) in this report, San Diego actually came in and third-place. of the six Southern California areas in the report the average residential sales price for a detached home was the highest in Orange County, at a staggering $780,000! in second place, was Ventura at $660,720. the lowest priced average home sale for the six areas studied in Southern California was San Bernardino, which came in at $277,000. Read more
San Diego Real Estate Market Analysis
San Diego County Residential Real Estate Market Analysis: 4th Quarter 2017
By Mark A. Melikian California Certified Residential Appraiser appraisals@san.rr.com P.O. Box 3051 Del Mar, California 92014 858-945-8996 ©2017
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. In 2017, the total number of units sold for the year was 35,200, down from 36,236 sales in 2016 (see Figure 1).
San Diego Real Estate Market Analysis
San Diego real estate market Outlook 2018
San Diego real estate market Outlook 2018
As I write this, the final figures for the fourth quarter of 2017 are not in yet. But it seems that a number of insiders believe that the average home appreciation in San Diego will be approximately 7.2% for 2017.
One major real estate tracking analytical firm has come out with for projection of average appreciation for 2018 in San Diego California of approximately 4.2%. so, you may be asking yourself why the three percentage point drop in the forecast for home appreciation for 2018? I’m going to give my opinion here with my thoughts on why the San Diego home values will not be a strong this year as they were in 2017. Naturally, I’m just a real estate broker and not an economist. But, with that said I’m sure if he got 10 economist in a room and asked them what they thought the average appreciation for San Diego real estate would be in 2018 you would get 10 different opinions.
So, here is my personal opinion on what I see for the San Diego residential real estate market in 2018: Read more
San Diego Real Estate Market Observations
San Diego Real Estate Market Observations
In this video I give my observations and opinions on the San Diego real estate market in mid-July 2017. actually, these are just my personal opinions so before acting on any of the information here I would advise talking with your accountant and financial advisor prior to making any real estate contractual commitments.
Well, with that said, I can say one thing for certain. That is this market does not look anything like the top of our San Diego real estate market did in the summer of 2005.
Driving the real estate frenzy that ended in the summer of 2005 was the ease of getting mortgages without stringent qualifications. in today’s San Diego real estate market home buyers really have to qualify to handle the mortgage payments. What’s really driving our current San Diego home price appreciation is the basic economic principle of supply and demand. Read more
San Diego Residential Real Estate Market
San Diego Residential Real Estate Market
San Diego County Residential Real Estate Market Analysis: 2nd Quarter 2017 ©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 two quarters of 2017, the projected total number of units sold for the year will be 34,888, down from 36,236 sales in 2016 (see Figure 1). Read more
Interest Rates Increase
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
California Home Hunting
California Home Hunting – The Millennial Home Buyer
This is a very humorous, and unfortunately very true ( especially here in California)Â Â 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.
Home Values Growth – Fastest Rate in Nearly Three Years
Home prices up at fastest rate in nearly three years!
Home 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
San Diego Housing Market Analysis 4th Quarter 2016
San Diego Housing 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).
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