Thursday, June 3, 2010

Property Values Increasing in San Diego, CA 92111

In the city of San Diego and the zip code of 92111:  The property value trend is Increasing, indicated by a median $/Sqft over the past quarter 8.2% higher than the same period 1 year ago.  The Demand/Supply trend is In Balance, indicated by 2 months of current housing supply.  The Marketing Time trend is Under 3 months, indicated by a median marketing time of 17 days and an average marketing time of 33 days over the past 3 months.  Foreclosure activity remains high and future declines due to distressed sales is possible.  Over the past 30 days there were 44 total sales and 14 bank sales (32% of all sales were bank sales).  There are currently 74 bank owned homes, 105 homes in foreclosure, and 94 homes that have received a notice of default, but that are not in foreclosure.  According to the MLS there are 7 bank owned homes currently listed for sales which indicates that 90.5% of all bank owned homes are not being actively marketed in the MLS.

Brian Ward
Real Estate Appraiser
(619) 630-9273