When considering homes built between 2000 and the present (01/07/2010) in the San Diego, CA zip code of 92154…
Property values have fluctuated throughout the past year but have declined 4.1% overall. Over the most recent quarter property values have declined sharply / 5.5%. Supply is in balance with 2 months of inventory and the typical marketing time was 89 days over the past month. Bank sales were 44% of all sales (27 of 44) over the past month. There are 234 bank owned properties, 355 properties that have received a notice of default but that are not in foreclosure, and 370 properties that are in foreclosure. Based on 27 bank sales over the past month there are 8.7 months of bank owned inventory and 27.9 months of potential bank owned inventory from properties in the foreclosure process. Based on these foreclosure related statistics and the recent steep decline in property values, continued declines are likely.
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