Monday, February 6, 2012

San Diego, 92120 Property Values Are in Decline

In the San Diego zip code of 92120 and according to Sandicor MLS:  When comparing the most recent 6 month period with the same period last year, the median $/Sqft changed -9% and the median sale price changed -3%.  When comparing the most recent 6 month period with the previous 6 month period, the median $/Sqft changed -4% and the median sale price changed -2%.  Based on the current active listings and the number of sales over the past 30 days, there are currently  months of housing inventory and the median marketing time for closed sales has been 66 days.  Over the past year 30% of all sales were bank sales (14%) or short sales (16%).  Also, 6% of all sales were undeclared in terms of their sales restrictions and agents regularly fail to categorize their bank/short sale listings so the actual ratios of these sales are likely higher.

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Brian Ward
Brian Ward Appraisal
(888) 844-1733
www.brianward.com

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