Monday, June 28, 2010

San Diego, CA 92127 Property Value Statistics

Over the past 12 months property values have increased 10% and between the 2 most recent 90 day periods property bales have increased 4% indicating a consistent and increasing property values trend.  There are currently 3.8 months of housing inventory indicating a balanced supply and demand trend.  Properties sold in an average of 59 days and a median of 27 days after being listed over the past 3 months indicating a marketing time trend of under 3 months.

Foreclosure / Short Sale Related Statistics:

From 05/15/2010 to 06/15/2010
* 70 Total Sales
* 20% of all sales were bank sales
* 9% of all sales were short sales
* 29% of all sales were bank sales or short sales

From 05/15/2009 to 06/15/2009

* 92 Total Sales
* 12% of all sales were bank sales
* 10% of all sales were short sales
* 22% of all sales were bank sales or short sales

* 84 Bank owned homes
* 159 Properties in foreclosure
* 97 Properties with mortgages 60+ days late but not in foreclosure
* 24 Property listings from bank owned properties
* 71% of bank owned homes not actively listed

These statistics indicate historically high foreclosure activity which suggests that future declines from foreclosures and other distressed selling activity, such as short sales, are possible.  They also suggest that banks are withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable.

These statistics are among the most favorable in San Diego County for sellers.

Brian Ward
(619) 630-9273