Thursday, December 10, 2009
San Diego Foreclosure and Market Statistics, Zip Code 92122
In the San Diego zip code of 92122 the ratio of bank sales has declined to 14% over the past month from 36% during the same period last year. The ratio of bank sale listings is currently 8% according to the local MLS. There are currently 39 bank owned homes which would constitute 41% of all listings if all were actively marketed, there are 68 properties that are in foreclosure with the sale date set, and 85 properties that have received a notice of default. Bank sale ratios are above what is historically typical and sellers must compete with bank sales for buyers, although it is less than it has generally been over the past 2 years. The property values trend has been stable between the past two quarters and has risen over the past 12 months, demand/supply has been stable over the past two quarters at approximately 5.5 months of inventory, and the median marketing time has been less than 90 days for a year.