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 Real Estate Numbers in San Diego

There are a ton of data points, snapshots of where the real estate market is...or maybe better put, was. Incredible tools that offer bits of insight and nuggets of knowledge about your local housing market. In North San Diego Coastal housing alone there are multiple layers, and in some of these housing sub-markets just miles from each other, even within the same zip code things can go from a buyers market to a sellers market.  So how does a person know what is truly happening? What is likely to happen next and how to make sense of all the stats, charts, stories and general noise that takes place.

Some of the important numbers are the Month's Supply of Inventory, Average Market Time, Pending Inventory, Median Price and Average Price. The interesting thing about any these figures, just knowing the number does not offer much insight or benefit.

Here are some housing stat's from North San Diego Coastal zip codes, year over year price percentage change in median home prices May 2009 vs. May 2010: Carlsbad 92009- 0% Carlsbad 92011 - up 10%, Carlsbad 92008-up 30%, Carlsbad 92010- up 6%, Rancho Santa Fe 92067- Down 42%, Del Mar 92014- down 20%, Oceanside 92054-up 32%, Encinitas 92024- down 9% & just south in Cardiff by the Sea 92007- up 31%. So what do these numbers tell us?

In my opinion alone the numbers tell you very little, whether you are buying or selling a home in San Diego.

Obviously, the numbers above do not mean a home you purchased last May in Rancho Santa Fe California for $2,000,000 is now worth $1,160,000. Gathering housing stats is easy to do on your own with the increasing number of sites catering to real estate. I study homes and prices daily. I run across some very bright people with incredible data services bouncing around the internet . I also run into some real estate agents that could not tell you what Median Price means or how many months supply of inventory a given area has, or that perhaps the jump in median price is not because the prices are up in a significant manner, it could simply mean that there are a larger percentage of distress sales at the upper end so there is a skew in the market in that location.  There are always interesting questions like what is happening in Rancho Santa Fe right now what would cause year over year median price to be off 42%? ( according to figures released in June, 2010 Homedex)

The Growing Shadow....

The other thing catching my attention is the big bad shadow inventory. The only thing that is going to force the banks to let loose an inventory in a large way is if they were forced to.  The opposite is happening right now with the current administration doing what it can to play out the loan modification, short sale process with a vast number of people under water and or behind on mortgage payments.  If you have short sale or loan modification questions check this link out.

In California the latest news on this front came out saying that Notice of Defaults are down 43% year over year for May 2010.  A stunning figure is the 141% increase in foreclosure sale cancellations. If this is of interest to you check out the report here.  Also here is the latest North San Diego County Report, Homedex.

Thanks for reading this post, if you would like a detailed report on your North San Diego zip code just shoot me an email Loren@CoastalHomeFinder.com. If I can help you find your next home or sell your home I would be honored.  Call me today at (760) 602-1000

http://www.coastalhomefinder.com/00AC6E

Pending home sales nationally were up 8.2% for February 2010, in the West, according to the report pending sales were off nearly 5%. In the San Diego real estate market the picture was significantly brighter than the February numbers that came out today would suggest. Your March 2010 North San Diego Coastal Real Estate Update is available below. The pending home sales in North San Diego Coastal markets covered by the report showed a 51% year over year rise. Other important insights show the Months Supply of Home Inventory down year over year by 48% and the Average Market Time lower as well. The North San Diego coastal real estate market appears to be turning a corner, there is a note of caution in the air. There is a good deal of stimulus in the system right now, some of which is coming to an end. The Fedreal Reserve has finished purchasing Mortgage Backed Securities and federal tax credits for move up buyers and first time home buyers are scheduled to end soon.The real question is what will happen over the next 3- 9 months. Tell us what you think? Give us your thoughts below. 

Areas of focus in the report are the following zip codes: 92007,92008,92009,92010,92011,92014,92024,92067,92075,92130.

If you would like a local report for your zip code specifically or your neighborhood contact me at (760) 602-1000 or email Loren@coastalhomefinder.com and ask for your report.

Click on report below to see the March 2010 North San Diego Coastal Real Estate Report.

 

http://www.coastalhomefinder.com/00A9D4

There are some cross currents taking place in North San Diego Coastal Real Estate.

Inventory is down overall (for a search in all price ranges, attached & detached homes).

The MSI or Months Supply of Inventory is at 3.9 months, this peaked in November

2008 at 9 MSI. Also, notably comparing August 2008 to August 2009 the median price

is up 10%. Before you get all giddy if you are a home seller or freaked out if you have

been thinking about buying a home, but haven't yet, we are in a very segmented real

estate market in North San Diego Coastal areas. When we look at the same data for

homes priced at $500,000 or below the Months Supply of Inventory of home goes

in to "Sellers Market" territory, with only 1.7 MSI. Looking at the $501,000 to $999,000

price ranges the MSI is at 3.9 months. If you go to the million dollar plus homes the

picture gets considerably less bright if you are a home seller of a property above 1 million

dollars. The MSI in the higher price ranges stands at 19.2 Months Supply of Inventory,

I will say that again, that is right there is 19.2 months supply of homes on the market

 in the million dollar plus range.

The more interesting data is that while overall inventory is down, the numbers of sales

closed in August 2009 is also down from the number of closings in August 2008. Inventory

is down simply due to the fact that less homes are being put on the market right now,

so the months supply of inventory continues to dwindle. Below are some charts that we

can customize to your situation, whether buying or selling you need to know not just what

the overall real estate market is doing in San Diego but what your specific price range and

 zip code are doing.Heck we can even break it down for you by size of home or numbers of

bedrooms. By the way you can search for homes on your Apple iPhone right now this

comes in handy when you are on the road checking homes for sale and the flyer box is

empty. Your flyer box will never be empty again. You can get photos, added info and with

 the click of a button set up an appointment to see a home you are interested in.

Get Your Cell Phone MLS search here. Here are some great deals available now in North San Diego

Coastal real estate.

 

 

 

 

 

 

**These numbers and charts represent data from the cities of: Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Carlsbad and Oceanside over the past 12 months)

http://www.coastalhomefinder.com/009C6F

 

In a recent Forbes magazine article on the 100 most expensive zip codes in the United States the expected local San Diego towns showed up. Rancho Santa Fe has two zip codes that show up in the top 100. Interestingly enough last year's survey of the top 50 zip codes was dominated by the State of California which accounted for 96% of America's 50 most expensive zip codes. In 2009 that figure has dropped below 50%. Link to the story Highlights below.

No. 98: 92037

La Jolla, Calif.

Median Home Price: $1,634,234

No. 87: 92014

Del Mar, Calif.

Median Home Price: $1,721,338

No. 83: 92118

Coronado, Calif.

Median Home Price: $1,734,790

No. 41: 92091

Rancho Santa Fe, Calif.

Median Home Price: $2,323,734

No. 6: 92067

Rancho Santa Fe, Calif.

Median Home Price: $3,362,493

Check out some of these million dollar plus coastal dream homes

Today we have now seen six straight months of increases in the pending homes index Today the National Association of Realtors said its seasonally adjusted index of sales contracts signed in July for previously occupied homes rose 3.2 percent to 97.6. In the West the rise was 12.1%, in Southern California we are clawing its way out from very low levels.

On another note the state of California had a massive garage sale, which has netted the state $1.6 million dollars so far.

 

http://www.coastalhomefinder.com/009C44

So this week we look at the three highest priced detached homes and three lowest priced in North San Diego Coastal communities. Here you go for the 3rd most expensive home for sale right now in the North San Diego Coastal market check out this 20,000 sq ft 9 acre equestrian dream home.

Rancho Los Arboles, a refined expression of Southern California's luxurious yet relaxed lifestyle, located on 9 pristine Covenant acres, this very private resort is a unique and safe haven. Created from the core structure of a 1920's Monterey Spanish estate, the home has been meticulously detailed and updated with every modern amenity. Upon entrance you will be amazed as this exceptional property unfolds to capture your senses.  This Rancho Santa Fe home is one of the most expensive for sale in North San Diego County Coastal. Priced at $35,000,000 here is a link to the tour, check this dream home now! listed by Barry Estates

 

The "Hope Diamond" of estates! Spectacular half acre mansion on the Sand. This unique property was designed by famed architect Bob Ray Offenhauser for the founder of Architectural Digest-Colleen Knapp. The visual result is breathtaking. 5 full bedroom suites, media room, antique imported French fire mantels recently added, 500 year old windows from France, totally upgraded by current owner. Detached guest area with full kitchenette, gym/full workout room, authentic and grand gourmet kitchen...This Del Mar oceanfront home is one of the finest properties for sale in San Diego and the 2nd highest priced home for sale in Coastal North San Diego County right now, the home is priced at a cool $50 million. Listed by Barry Estates

 

 

Tucked away down a quiet drive just west of Highway 101 andsecluded behind a private gate lies your ocean front oasis with over 396 feet of prime ocean front land. This 5.5+ acre property is perched on the bluffs overlooking the Pacific Ocean and is just across from the prestigious Del Mar Racetrack. Del Mar Village and the shops of Solana Beach are both a short walk away. Discover the perfection of living at the waters edge with the ocean as your front yard. A two-story home is standing on the property which allows for rebuilding your own two-story home. This property allows for two single family homes. There are so many unusual qualities about this lot it truly must be seen to be fully appreciated. This prime property is the highest price in Coastal North San Diego County on the market now, priced at $76,000,000. Listed by Prudential California Realty

      

And now the 3 lowest priced detached homes in North San Diego Coastal...

Lowest priced detached home in North San Diego County Coastal is this 2 bedroom 1 bath Oceanside home for $95.000 it is a short sale.

 

 

The 2^nd lowest price home is a Short sale Sold as is. This home is a three bedroom two bath approximately 1288 square feet located in Oceanside for $149,900.

 

The 3^rd lowest detached home in North San Diego County is another short sale this Oceanside home is priced in a range of $170,000 to $200,000 it is a 3 bedroom with approximately 1085 square feet.

http://www.coastalhomefinder.com/009BA4