June 2011 San Diego North County Home Statistics

July 17, 2011 By

The July 2011 HomeDex™ Report provides June 2011 San Diego housing statistics.   Information in this report is used by permission from the North San Diego County Association of Realtors®  (NSDCAR).   Gary Harmon, your Real Living Lifestyles  Realtor, has been a member of NSDCAR for over 20 years.
 
• The median price for all San Diego North County home sales – attached and detached – increased from $380,000 in May 2011 to $386,225 in June 2011.
• San Diego detached homes in North County declined 2.17 percent from $460,000 in May 2011 to $450,000 in June 2011; monthly median prices have fluctuated up and down since January 2011. Year-over median SFD price in North San Diego County homes decreased 6.25 percent from $479,975 in June 2010. This was the largest price fall during a five month trend of year-over price declines.
• The San Diego County median SFD remained steady with a slight 0.53 percent decline, from $380,000 in May 2011 to $378,000 in June 2011, after a 1.3 percent increase last month. Year-over median price decreased about 6.67 percent from June 2010.
• The number of North San Diego homes listings (active and contingent) increased about one percent from May 2011 to June 2011; continuing a trend of monthly increases in listings since January 2011. Listings increased 5.47 percent year-over from June 2010.
• The number of sold North San Diego County SFD units increased 12.25 percent from May 2011 to June 2011, the fourth monthly increase this year.
• Median days-on-market for single-family detached homes in North County increased from 47 days in May 2011 to 49 days in June 2011.

Contact Gary Harmon, to see San Diego North County homes today.

See up to date market statistics provide by Altos Research for Carlsbad homes, Oceanside homes, Vista homes, San Marcos homes, Escondido homes and Encinitas homes.

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Vista Homes Market Statistics

July 4, 2011 By

Current Real Estate Listings of Vista Homes for Sale

The median Vista homes value in July 2011 is $342,190. The total inventory of Vista CA homes for sale is 381.   The National median home value is only $175,100.  See the chart below for a ten year average of median Vista homes values and how they stack up against the City, County and the Nation. There is also a chart of Vista homes appreciation for the same ten year period.

If you would like to see Vista homes for sale and take advantage of this great San Diego North County real estate market, contact Gary Harmon, your Real Living Lifestyles Real Estate agent.

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Homes are Currently 24% Underpriced

July 3, 2011 By

Lowest in Over 35 Years

This summer, qualified San Diego buyers – those with excellent credit and with funds available for down payments – couldn’t be in a better position to buy a North County home.  According to experts, prices have overcorrected to their lowest since 2002. Since 2006, prices have fallen 33%, greater than the 31% decline recorded during the Great Depression. Using historical wages to home prices, Capital Economics’ senior economist Paul Dales says that housing is currently 24% underpriced – the lowest in 35 years. That translates to the best affordability in decades, and an end in sight to the housing malaise, he says.

Across the US

In the latest existing home price survey from the National Association of REALTORS, the national median existing-home price for all housing types was $163,700 in April 2011, 5.0% lower than in April 2010. Distressed homes, which sell at a discount of approximately 20%, were 37% of sales, up from 33% a year ago.  Foreclosures, which have pressured both prices and real estate appraisals for non-distressed homes, are still high but leveling off. RealtyTrac says that U.S. foreclosure filings were down 9% in April 2011 from March, and down 34% from a year ago.

Across California

Like the rest of the nation, California home sales also declined in April 2011 from the previous month, but were up 5% over a year ago. And, unlike the national trend, home prices actually increased.  The statewide median price of an existing, single-family detached home sold in California rose 2.5% in April to $293,570, up from a revised $286,510 in March, according to the California Association of REALTORS (C.A.R.).  Yet, despite improving conditions, the Southern California housing market is trending softer, with sales volume the lowest April sales recorded in three years. In Los Angeles, San Diego, Ventura and Orange counties, sales volume drifted 5.5% lower than March, and 9.2% lower than the previous year, keeping in mind that sales in April 2010 were being heavily stimulated by federal and state tax incentives.

Advice for San Diego North County Buyers

The biggest hurdle for San Diego buyers today is creditworthiness. To compete against cash buyers and to take advantage of unprecedented affordability, North County buyers should get their finances in order quickly. Contact HomeServices Lending, one of Gary’s winning team,  for preapprovals now, so that glitches in credit reports that impact credit scores can quickly be resolved.

Advice for San Diego North County Sellers

With continued competition from distressed North County homes, it’s more challenging for sellers to get top dollar for their San Diego homes.  San Diego North county sellers should carefully analyze their equity position before they price their home for sale. Lenders will work with sellers who are “short” or owe more than their homes will sell for in the current market, but the process may be lengthy. Contact Gary Harmon, your North County real estate expert for a comparable sales analysis before pricing your home for sale.

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May 2011 San Diego North County Home Statistics

June 16, 2011 By

The June 2011 HomeDex™ Report provides May 2011 San Diego housing statistics.   Information in this report is used by permission from the North San Diego County Association of Realtors®  (NSDCAR).   Gary Harmon, your Real Living Lifestyles  Realtor, has been a member of NSDCAR for over 20 years.

 The median price for all North County home sales – attached and detached – remained constant from last month at $380,000 in May 2011.

  •  Detached homes in North County rose slightly by 2.22 percent from $450,000 in April 2011 to $460,000 in May 2011.  Median price has moved up and down monthly this year, with no sustained positive or negative trend. However, year-over median SFD price of San Diego North County homes decreased 3.46 percent from $476,500 in May 2010, continuing a four month trend of year-over price declines (following an 18-month trend of increases in median price).
  •  The number of SFD listings (active and contingent) increased 3.40 percent in May 2011 from April 2011; listings have increased during each month of 2011. Listings were up 9.27 percent year-over from May 2010.
  •  The number of sold North San Diego County homes SFD units decreased 6.7 percent in May 2011 from April 2011, following three months of increases.
  • Median days-on-market for single-family detached homes in North County decreased to 47 days in May 2011 from 50 days in April 2011, the lowest level this year.

If you like San Diego North County home statistics, you can always be up to date with Gary’s Altos Research Reports by major North County communities.  Follow these links: Carlsbad homes, Oceanside homes, Encinitas homes, Vista homes, San Marcos homes, and Escondido homes.

To schedule a personal tour of homes in San Diego North County, contact Gary Harmon, your Real Living Lifestyles Realtor.  If you would like to search for properties on your own, just click on the community of interest listed under  “Current Listing”  in the column immediately to the right.

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San Marcos Homes Market Statistics

June 8, 2011 By

Current Real Estate Listings of San Marcos Homes for Sale

The median San Marcos Homes value in June 2011 is $389,900.  The median value for San Diego North County homes  for the same period is $388,700.  We love our weather here in San Diego and we pay dearly for it.  The National median home value is only $175,100.   San Marcos home appreciation has decreased by -2.4%  with San Diego County homes being about the same.    Nationally, homes have gone down in the same period by -3.2%.   See the chart below for a ten year average of median San Marcos homes values and how they stack up against the City, County and the Nation.  There is also a chart of  San Marcos homes appreciation for the same ten year period.

If you would like to see San Marcos CA homes for sale and take advantage of this great San Diego North County real estate market, contact Gary Harmon, your Real Living Lifestyles Real Estate agent.

[idx-listings city=”San Marcos” minprice=”350000″ propertytypes=”335″ orderby=”Price” orderdir=”DESC” count=”25″ showlargerphotos=”true”]

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Optimistic about the San Diego Real Estate Market

April 6, 2011 By

As you may already know, we commissioned Prudential’s Global Market Research Group to survey consumers between the ages of 25-64 who are in the market to buy a home.
 
Our Prudential 2011 survey found that Americans are significantly more optimistic about real estate today than a year ago and, despite economic volatility, their belief in real estate as a good investment is unshaken. In fact, most feel that the real estate market and property values will see recovery in the next year or two, and they highlighted the importance of real estate agents in the home-buying and selling process.


Prudential launched a media blitz in the early-morning hours of March 10 starting with 21 live television and radio interviews and two taped sessions. Survey coverage was picked up by 174 TV stations and national radio programs representing more than 25 million viewers and listeners. (Prudential agents can watch a sampling of these interviews linked from the PREA Center “Top Story” section and on the NextWork community site.)
 
We also blanketed the national and regional press as well as real estate trade publications with our press release, “Americans Confident in Recovery of Real Estate Market.” The Wall Street Journal was among the first to file stories. When the dust finally settled our press release generated 19,503 headline impressions on the Internet.
 
A simple Google search returned 23 pages of results including postings on media and trade association sites, affiliate websites, agent blogs and even the sites of other real estate companies. Our press release was viewed and posted on media sites in Sweden, Canada, France, Germany, United Kingdom, India and the Republic of Korea, which is great as America continues as a highly desirable market for international investors.

We at Prudential California Realty are optimistic about the San Diego Real Estate Market.  For more information about San Diego North County real estate, contact Gary Harmon, your San Diego North County Realtor.

[idx-listings city=”Chula Vista” minprice=”400000″ propertytypes=”335″ orderby=”Price” orderdir=”DESC” count=”21″ showlargerphotos=”true”]

Filed Under: Buyers, Market Statistics, North County, San Diego Tagged With: , , , ,

San Diego County Market Summary – December 2010

December 2, 2010 By

It’s been so long since the San Diego North County housing market was “normal,” it may be hard to believe it will ever get there again. But according to the latest news and economists’ outlooks, it’s on the way back now.  That means this is the best time to invest in a San Diego North County home, while housing supplies remain high and interest rates and prices are still low.  

San Diego housing supplies are at about eight months on hand, comfortably drifting down from posttax credit surges during the summer.  Actual annual sales are at about 4.5 million, seasonally adjusted. It would take about 5.2 million in transactions to be considered “normal,” says the National Association of REALTORS® (NAR).  If that seems like a lot of homes to sell, consider that in 2005 transaction volume reached $7.1 million.

Smart investors don’t wait for the bottom to pass them by. While it may seem that North County buyers have plenty of time, small shifts in sales, prices, consumer sentiment and other market conditions can produce big changes very fast.  Nationally, sales volume and prices are flat, but that won’t last long in a post-recession economy.

Time to buy in California

Nationally, the road to normal has begun, but the outlook is even more exciting for California.   

  • California median house payments were $1,747 in Q2 2010, down from $3,583 in Q2 2007.  
  • California median home prices were $375,000 in November 2010, up from $290,000 in January 2010, and $225,000 in January 2000.
  •  California median rents were $1,484 in Q2 2010, up from $1,046 in Q2 2000. 
  •  The gap between the average rental payment and the average mortgage payment has not been this close in the last ten years. If you can buy, now is the time. 

UCLA Anderson Forecast Senior Economist Jerry Nickelsburg forecasts that “all the evidence suggests that California is ever so slowly coming out of the recession … but, slow growth means that while the groundwork for faster growth is being put down, there is not a lot of perceptible change.” 

 The California Association of REALTORS® expects housing sales to end 2010 with a 10% decline in transaction volume from 2009, but the trade organization projects a 2% increase in sales in 2011.

 However, softer transaction volume has not resulted in lower home prices. The trade organization anticipates that 2010 will end with an 11.5% increase in median home prices to $306,500, and that prices will further increase to $312,500 in 2011. 

“As the U.S. economy continues its tepid recovery, we’ll see some improvement in California’s economy,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young in September. “We expect a  net jobs increase of approximately 1.4 million jobs in California for the year to come and an improvement in unemployment figures.”  As the housing market stands now, sales are brisk under $500,000, causing prices to rise.  Upscale home prices may soften further, affording a terrific opportunity for home buyers taking advantage of a three-year price decline in certain price ranges, especially now that jumbo loans are more available. 

To take advantage of this great San Diego North County housing market, contact Gary Harmon, your top North County Realtor.  

Gary specializes in San Diego North County homes including:  Carlsbad homes, Oceanside homes for sale, Encinitas homes, Vista, San Marcos, and Escondido real estate.  Gary Harmon also specializes in San Diego North County homes for over 55 seniors.  North County Homes for Over 55 (55+) covered on this blog include  Oceana homes, and Emerald Lake Village (all in Oceanside). Other homes included are Rancho Carlsbad homes (Carlsbad), Oaks North homes and Seven Oaks homes (both in Rancho Bernardo).Ocean Hills Country Club homes.

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