William Johnson San Diego Real Estate

January 2011 San Diego Median Home Price Drop

San Diego Median Home Price Drops

While it is not unusual to see sales activity drop in our housing market over the winter holidays , median home prices for December was robust in comparison but our new year sales for January were somewhat disappointing.

At the end of November 2010, the median home price all all homes sold was $330,000 for the county. In December 2010 the median was $333,000 but a drastic drop in that number by the end of Jan to $304,000 indicates the still strong influence of the distressed segment of the market which is greater than was expected.

Other experts still contend these new numbers were as much a reflection of the general sluggishness of the holiday period. While the experts disagree about what most influences the change, the numbers themselves reflect the current market and we will have to wait for a trend to occur before speculating further.

The Year over Year figures are as follows:

       Median Price          January 2010           December 2010            January 2011          Year over Year % Change

       Single Family          $345,000                 $360,000                     $350,000                        1.40%▲

       Condos                  $201,000                 $212,000                      $200.000                         .72%▼

       New Homes            $406,000                 $500,000                     $398,000                        1.80%▼
     _________________________________________________________________________________________
       SD County              $305,000                 $333,000                     $304,000                          .30%▼

       Sales                     January 2010          December 2010             January 2011          Year over year % Change

       Single Family           1403                       1927                            1364                              2.8%▼

       Condos                     735                         935                              746                              1.5%▲

       New Homes              184                         329                              138                               2.5%▼
      ________________________________________________________________________________________
       SD County               2322                       3191                            2248                              3.2%▼

                                              Source: Data Quick Information Services/ Union Tribune

San Diego Median Price Home Increased in June 2009

The median price of single family detached homes that sold in June was up 7.7 % over May to $350,000. This median price though is down 13.6% from a year ago.

The Condo market faired equally well with a 5.5 % percent gain the median price but reflected a 19% drop over the last year.

The new construction sales of homes and condos did not fair as well with a drop in the median price of 4.3 % with a median value of $455,500. Over the last year the median price of new construction shows a 7% decrease.

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