Golden Hill, San Diego, Real Estate Market Trends And Community Information, August 2006
Author: Real Estate Pros
Source: articledashboard.com
COMMUNITY INFORMATION
The Golden Hill community is situated in central San Diego County within the state of California. There are approximately 50,162 residents in this Zip code (92102) and 14,737 households. The median age of residents is 27.41 years.
TEMPERATURES
The temperature in Golden Hill is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 73?F. The coldest time of year occurs in December with average temperatures falling to 58? F.
HOME AND REAL ESTATE PRICES
The housing options in Golden Hill 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 $100,000s.
? Two bedroom townhouse/condominium start in the mid $200,000s.
? Three bedroom townhouse/condominium start in the low $300,000s.
? Two bedroom single-family homes start in the mid $300,000s.
? Three bedroom single-family homes start in the low $400,000s.
? Four bedroom single-family homes start in the mid $400,000s.
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).
The median price of single-family homes dropped from $540,000 in June 2005 to $451,500 in June 2006, which represents a 16.6% decrease. Moreover, fewer homes sold in June 2006 (10 homes) than in June 2005 (13 homes). Also, homes took much longer to sell in June 2006 (92 days) than in June 2005 (46 days).
The median price of condominiums and townhomes dropped from $339,000 in June 2005 to $304,500 in June 2006, which represents a 10.2% decline. Moreover, slightly fewer units sold in June 2006 (6 units) than in June 2005 (7 units). Also, units took much longer to sell in June 2006 (85 days) than in June 2005 (49 days).
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.
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.
Normal Heights, San Diego, Real Estate Market Trends, Single-family Homes, Mid Year Analysis, 2006
Author: Real Estate Pros
Source: articledashboard.com
The Normal Heights region is located in central San Diego County, California. The community is located just south of Interstate 8, and in between Interstates 805 and 15.
The real estate and homes for sale in Normal Heights fall into the moderate-income category. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 146 single-family homes were sold. Approximately 141 homes were sold for the same period in 2005.
One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.
The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.
The median price of homes in July 2006 was $627,000, compared to $565,000 in July 2005, which represents a 13.5% increase. The average price of homes in July 2006 was $695,500, compared to $589,706 in July 2005, which represents an 18.9% increase. Approximately 10 homes sold in July 2006 and 17 in July 2005. In summary, there was an upward price trend in July 2006 compared to the same period last year.
The median price of homes in June 2006 was $676,250, compared to $665,000 in June 2005, which represents a 1.7% increase. The average price of homes in June 2006 was $744,275, compared to $692,105 in June 2005, which represents a 7.5% increase. Approximately 20 homes sold in June 2006 and 19 in June 2005. In summary, there was an upward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $554,500, compared to $653,500 in May 2005, which represents a 12.3% drop. The average price of homes in May 2006 was $686,867, compared to $714,481 in May 2005, which represents a 3.4% drop. Approximately 30 homes sold in May 2006 and 26 in May 2005. In summary, there was a downward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $540,000, compared to $559,950 in April 2005, which represents a 3.6% drop. The average price of homes in April 2006 was $580,000, compared to $633,725 in April 2005, which represents an 8.5% drop. Approximately 22 homes sold in April 2006 and 32 in April 2005. In summary, there was a downward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $505,000, compared to $565,000 in March 2005, which represents an 8.6% drop. The average price of homes in March 2006 was $522,435, compared to $623,667 in March 2005, which represents a 15.1% drop. Approximately 31 homes sold in March 2006 and 21 in March 2005. In summary, there was a downward price trend in March 2006 compared to the same period last year.
The median price of homes in February 2006 was $515,000, compared to $533,736 in February 2005, which represents a 3.5% drop. The average price of homes in February 2006 was $621,238, compared to $524,498 in February 2005, which represents an 18.4% increase. Approximately 21 homes sold in February 2006 and 12 in February 2005. The data was mixed for February 2006, as the median priced decreased and the average price increased from the same time last year.
The median price of homes was $509,500 in January 2006, compared to $479,500 in January 2005, which represents a 7.3% increase. The average price of homes in January 2006 was $622,325, compared to $583,607 in January 2005, which represents an 8.5% increase. Approximately 12 homes sold in January 2006 and 14 in January 2005. In summary, there was an upward price trend in January 2006 compared to the same period last year.
So what does the above data tell us? Overall, the number of homes sold increased 3.5% from 2005 to 2006. Besides that, no clear pattern emerged. Three of seven months (January, June and July 2006) demonstrated increases in the median and average price (range 1.7% to 18.9%). In contrast, three of seven months (March, April and May 2006) demonstrated decreases in the median and average price (range 3.4% to 15.1%). The data was mixed for February 2006, as the median price increased 18.4%, and the average price decreased 3.5%. Given the ups and down described above, a longer period of evaluation is needed to determine if a clear pattern emerges.
Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Normal Heights.