**Brian Ward is a real estate appraiser covering all of San Diego County and eastern Riverside County**
The median $/Sqft of properties over the past year increased 5% but has declined 2.5% between the two most recent 3 month periods, indicating an overall stable property values trend. There are currently 1.6 months of housing inventory indicating a balanced supply and demand trend. Over the past month, properties sold in an average of 49 days and a median of 25 days after being listed indicating a marketing time trend of under 3 months.
Statistics indicate historically high foreclosure activity which suggests that future declines from foreclosures and other distressed selling activity, such as short sales, are possible, although the subject's market area has one of the lowest ratios of bank/short sales to total sales in San Diego County.
Foreclosure / Short Sale Related Statistics:
Past 30 Days
* 26 Total Sales
* 8% of all sales were bank sales
* 15% of all sales were short sales
1 Year Ago
* 18 Total Sales
* 11% of all sales were bank sales
* 17% of all sales were short sales
* 16 Bank owned homes
* 28 Properties in foreclosure
* 31 Properties with mortgages 60+ days late but not in foreclosure
* 9 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 44% of bank owned homes not actively listed in the MLS
* 13 Months of current and potential bank sale and short sale inventory for bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last months sales in the MLS.