Drop In Home Sales of America’s Finest City Lowest of Its 6 Neighboring Counties
August 17th, 2007 categories: Buying San Diego Real Estate, Local San Diego News You Can Use, San Diego Real Estate, San Diego Relocation, Selling San Diego Real Estate
San Diego is doing better than all of its neighboring counties. July Sales figures for San Diego County had only a 13.3 % drop from the same time in 2006. Notably it is the smallest in the 6 neighboring counties.
The best news for San Diego county property owners is that the median price dropped only 2.2% and then numbers show just a small drop of the 2006 median price of $500,000 to $489,000.
Considering all the hysterical news of foreclosures and the ensuing potential for short sales this is some really positive news.
Data Quick analyst John Karevoll, attributes at least part of the market slowdown we are experiencing to the financial markets. Some well known lenders have all but stopped processing loan applications. Hopefully, the market will resolve those issues and the inconvenience to homeowners and home buyers will be short lived.
He also commented that the South Bay area of San Diego county and East County areas have suffered the largest drop in their median prices. North County Coastal and North County Inland has suffered the least amount of change while central San Diego didn’t fair to badly either, dropping only less than two tenths of a percent more than North County.
Comparatively, San Bernadino county has suffered a 42.6% drop in sales but only a 3.1% drop in their median prices .
Riverside County which also includes the exclusive but seasonal Palm Desert area, showed a large drop of 41.9% in sales and only a 3.9 % drop in the median prices. Factoring in that it is primarily a seasonal market and most of the snow birds have long gone , that market doesn’t seem to be too far off its normal pace for this time of year.
Los Angeles enjoyed a gain in the median price of a home there of 5.3% butt did suffer it’s sales dropping a significant 23% below the 2006 levels.
It is clear to me that San Diego is still very strong in the market because more Seller’s are doing their part by better preparing their homes and doing more to attract the Buyers to America’s Finest City. Surfs Up, so come to San Diego and bring the family. Who knows , the temptation to stay and enjoy all that San Diego provides might have you soon calling San Diego, “home”. Welcome!
Excellent post on an excellent website blog. One of the nicest and most creative we’ve ever seen.
NFL Picks, College Football Picks, Winning Points…
Thank you for your post!…