Point Loma, San Diego, Real Estate Market Trends And Community Information, August 2006
Author: Real Estate Prosbr
Source: articledashboard.combr
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COMMUNITY INFORMATION
The coastal community of Point Loma is situated in central San Diego County within the state of California. There are approximately 18,792 residents in this Zip code (92106) and 7,427 households. The median age of residents is 41.16.years.
TEMPERATURE
The temperature in Point Loma is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 71?F. The coldest time of year occurs in December with average temperatures falling to 57? F.
HOME AND REAL ESTATE PRICES
The housing options in Point Loma include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
? One bedroom townhouse/condominium start in the mid $300,000s.
? Two bedroom townhouse/condominium start in the mid $400,000s.
? Three bedroom townhouse/condominium start in the mid $500,000s.
? Two bedroom single-family homes start in the high $500,000s.
? Three bedroom single-family homes start in the mid $600,000s.
? Four bedroom single-family homes start in the mid $800,000s.
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 its a buyers market or a sellers 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 jumped from $927,250 in June 2005 to $1,024,068 in June 2006, which represents a 10.4% increase. More homes sold in June 2006 (20 homes) than in June 2005 (14 homes). The average time to sell a home increased from 41 days in June 2005 to 52 days in June 2006. The ratio between the asking price to the sales price remained relatively stable. Sellers obtained 93.7% of their asking price in June 2005 and 93.3% of their asking price 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./pbr
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