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2009 San Diego Home Prices
March 4th, 2010 Categories: San Diego Sales Statistics
2009 was an interesting year, especially in real estate. In San Diego, like most places, home prices were down typically 20–50% lower than they were a few years before. In the downtown San Diego real estate market, we more or less, saw what we expected it to do…condo prices continued to fall as more short sales and REOs hit the market and the market continued to be a hot topic of conversation.
Downtown San Diego Condo Statistics
January 8th, 2010 Categories: San Diego Sales Statistics
The San Diego real estate market has been pretty crazy these last several years. We saw home prices skyrocket and crash. We saw people buy with no money down and now we’re seeing people with LOTS of money who are unable to get loans. In a market where approximately one third of all transactions are either a short sale, or a foreclosure, I can help but think that this is a great time to buy real estate. I do think the higher end prices will drop some more and interest rates will rise in the next few years(which will result in fewer homes being purchased), but I’m confident that the “bottom” for entry level homes has been hit. You’re seeing lots of multiple offers and even with the anticipated REOs being released by the banks, I think the demand is there.
Downtown San Diego Penthouses
September 8th, 2009 Categories: Buying, San Diego Sales Statistics
So we all know that the low end of the San Diego condo market is moving, but what’s going on with the penthouses and higher end condos? Is anything selling? Well the short answer is…not really. The multiple offers and 100% list-price-to-sales-price action that we’re seeing in the lower end of the condo market is completely different from the high end condo market.
Park Place Condo Sales – July-December 2008
January 22nd, 2009 Categories: San Diego Sales Statistics
Park Place is not a busy building. In the second half of 2008, Park Place only saw 5 sales. This number was doubled in the first half of 2008, but 2008 still did better than 2007.
July-December 2008 – The Grande Condo Sales
January 7th, 2009 Categories: San Diego Sales Statistics
The Grande at Santa Fe Place. One of Bosa’s biggest hits, the North and South Grande towers had a total of 19 sales in the second half of 2008. With a total of 442 condos between the two towers(including the ground floor townhouses), we’re only talking about a 4.3% turnover rate. I don’t know who came up with the idea that there’s a ton of inventory out there, but clearly with so few sales, this can’t be the case.
2008 Second Quarter Sales – Park Place
July 3rd, 2008 Categories: San Diego Sales Statistics
Compared to the first quarter of 2008, Q2 at Park Place has been incredible. The second quarter sales consisted of five sales and a median sales price of $1,100,000. That’s a 42% increase over the first quarter, which also sold 5 condos. In addition to this, the second quarter was 35% higher in price, versus all of 2007 sales at Park Place.
2008 Second Quarter Sales Statistics – The Grande San Diego
July 3rd, 2008 Categories: San Diego Sales Statistics, The Grande
So what’s sold? Well at The Grande, apparently not much. Q2 of 2008 only produced 4 sales between the two Grande towers. With only 33 active listings, the inventory is down, but it seems like people are still waiting to see what’s going to be built around the buildings.
Median Condo Prices – 20 Year Sales History
June 30th, 2008 Categories: San Diego Sales Statistics
Home values have always gone up and down. Unlike the stock market, as long as you hold on to your home, it will rise in value. Here is a quick look at the last 20 years of sales for Downtown San Diego. As the charts indicate, the peak of the market was in 2004 and on average, Downtown San Diego homes have appreciated over 7% each year. And while this is a small window of time, more comprehensive analysis supports these findings.
Downtown San Diego’s Condo Inventory
May 23rd, 2008 Categories: San Diego Sales Statistics
Here is the typical home buyer’s thought process over last 8 years or so in the San Diego real estate market…These home prices can’t keep going up…I need to buy before prices get too high…I can’t afford to buy anything now…The Bubbles going to burst…Prices have come down but I’m going to wait…I’ll buy in 12 months…I still think prices are going to drop…Does this sound familiar?
Downtown San Diego Condo Watch
April 30th, 2008 Categories: San Diego Sales Statistics
What’s the Downtown San Diego market doing? Are prices going up? Down? Is there more inventory now that the market has slowed down? Are you waiting for that perfect deal?
