Tuesday, March 29, 2011

Home Values in San Diego, CA 92120 Decline. -7.8% to -8.6% Over the Past Year

In the San Diego, CA zip code of 92120 the median $/Sqft declined 7.8% over the past year and the median sales price declined 8.6%, indicating a declining property values trend.  There are currently 6.9 months of housing inventory indicating a balanced Demand/Supply trend.  Properties sold after a median of 47 days over the past 3 months indicating a marketing time trend of under 3 months.  17% of all sales over the past 3 months were bank sales or short sales which is a decline from 23% during the same period last year and among the lowest in San Diego.

Brian Ward
San Diego Home Appraiser

Bankruptcy - Divorce - Estates - Before Buying or Selling - More

* Always order your own appraisal when buying or selling a home.  The one ordered for the mortgage is for the bank to make a lending decision, not to protect or inform you, and likely will equal the purchase price because it is influenced by the purchase price.