Rancho Bernardo, San Diego, Real Estate Market Trends And Community Information, August 2006
Author: Real Estate Pros
Source: articledashboard.com
COMMUNITY INFORMATION
Rancho Bernardo is situated in the northern inland part of San Diego County within the state of California. There are approximately 18,979 residents in this Zip Code (92127) and 6,441 households. The median age of residents is 35.21 years.
TEMPERATURE
The temperature in Rancho Bernardo is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 76?F. The coldest time of year occurs in January with average temperatures falling to 55?F.
HOME AND REAL ESTATE PRICES
The housing options in Rancho Bernardo include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
? One bedroom townhouse/condominium start in the low $200,000s.
? Two bedroom townhouse/condominium start in the mid $200,000s.
? Three bedroom townhouse/condominium start in the mid $300,000s.
? Two bedroom single-family homes start in the mid $300,000s.
? Three bedroom single-family homes start in the mid $300,000s
? Four bedroom single-family homes start in the mid $500,000s
REAL ESTATE MARKET TRENDS
As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it's a buyers market or a seller's market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).
For the 92127 Zip Code, the median price of resale single-family homes was $838,750 in June 2006, which represents a 9.6% increase. A total of 34 homes were sold in June 2006. The median price of resale condominiums was $344,750 in June 2006, which represents an 18% decline. A total of 26 homes were sold in June 2006.
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.