House Prices in San Diego

Now that we are in the new year I have finished some of the year end reports I do for my real estate business.

Given the tremendous interest in San Diego's housing market in the last few years, I took a look at median prices in a number of communities over the last 5 years. The numbers, for some of you, may be pretty surprising (especially the amount of appreciation).

TOWN ____MDN 11/06 __MDN 11/04 __MDN 11/01 _1-yr % _2-yr %_ 5-yr %
Carlsbad ____$770,000____ $731,500____ $417,500____ -5%____ 5%____ 84%
Encinitas ____$835,000 ____$790,000 ___$455,000____ -6%____ 6%____ 84%
Cardiff _____$1,110,000 ____$875,000 ___$580,000____ 14%___ 26%____ 90%

Solana Beach _$1,225,000 ___$1,149,000___$680,000 ____5% ____7%_____80%
Del Mar ____$1,670,000 ____$1,450,000 __$825,000___ -2%____ 15%____ 102%
La Jolla ____$1,690,000 ____$1,432,000__ $900,000 ___-1% ____18% ____88%
RSF ______$2,791,000 ____$2,047,500 ___$1,740,000 __11% ____36%____ 60%
San Marcos __$587,500 _____$554,995 ____$292,000 ___-1%____ 6%_____ 101%
Oceanside ___$537,000_____ $475,000 ____$256,000 ___0% ____13%____ 110%
AVERAGE __$1,245,000 ____$1,056,111 ___$682,833 ____3%____ 18%____ 82%

(sorry, the formating is a bit weird in a blog)

Some other interesting stats so far. Inventories are down in all of these towns (ranging from 14 - 2%) since the end of November. Much of that may be due to the holiday season. We should see anb increase in inventory as the spring market kicks in. Prices seem to be stable but the December numbers are not yet available from the MLS. I'll let you know what they are in a later post.

If any of you are thinking of buying or selling and would like more details on the market conditions, please feel free to let me know.