Monday, January 11, 2010

Poway, CA Average Home Value Declines 4.2% Over Past Quarter

Poway, CA property values have fluctuated throughout the year but have declined 5.5% overall from $281/Sqft to $265/Sqft and 4.2% over the past quarter from $276.86/Sqft.  Demand and supply are in balance with 3.5 months of inventory and properties are generally selling after 77 days of market exposure.  Foreclosure activity: 2 bank sales past month, 71 bank owned homes, 293 properties 60+ days late on their mortgage.  This degree of foreclosure activity indicates that future declines are possible.

These statistics are in direct contradiction to average home value statistics which indicate a 9.5% increase in home values in Poway, CA.

The number of sales in Poway, CA has increased 324% compared with last year from 71 to 301.

Data derived from Sandicor MLS
(click on images to enlarge)

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