Monday, March 21, 2011

Fallbrook, CA Property Values Decline Over Past 6 Months

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The median $/Sqft of homes in Fallbrook, CA declined 1.3% over the past year indicating a stable property values trend.  However, when comparing the two most recent 3 months periods the median $/Sqft declined 2.7% which indicates a more steep recent decline in property values.  Because the annual decline is less that 2% it is my opinion that property values are stable overall but may be trending towards property value declines, similar to a number of other areas in San Diego County.  Based on the number of sales over the past 3 months there are currently 7.3 months of housing inventory, indicating a balanced demand/supply trend.  Properties are selling after a median of 63 active marketing days, indicating a marketing time trend of under 3 months.  The local MLS reports that 45% of all sales over the past 3 months were bank sales or short sales which is an increase from 36% during the same period last year.

Brian Ward
Fallbrook, CA Real Estate Appraiser
www.brianward.com

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