Houses in the San Diego zip code of 92117, which includes the communities of Clairemont and Bay Park, are showing property value declines. However, I recently completed an appraisal in Clairemont Mesa and there was a clear sign that property values were increasing after January of 2012. Property values tend to decline in winter months so this may simply be a seasonal change. Time will tell.
| MARKET CONDITIONS IN SAN DIEGO, 92117 AS OF 03/14/2012 (SANDICOR MLS DATA) |
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| Key Statistics |
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| Annual Home Value Change |
-5.6% / Declining Property Values |
| Current Home Inventory |
3.2 Mo. / Balanced Demand/Supply |
| 30 Day Median Marketing Time |
32.5 days / 1.1 Mo. |
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|
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| Annual Comparisons |
0-6 Mo. Ago |
12-18 Mo. Ago |
Change |
| Median $/Sqft |
$276.28 |
$295.58 |
-6.5% |
| Median Sale Price |
$381,000 |
$399,950 |
-4.7% |
| Median List $/Sqft |
$287.78 |
$302.69 |
-4.9% |
| Median List Price |
$389,000 |
$409,000 |
-4.9% |
| Med. Market Time Sold Props. (days) |
44 |
39 |
14.3% |
| Total Number of Sales |
178 |
160 |
11.3% |
| Total Number of Listed Properties |
1,855 |
1,984 |
-6.5% |
| Months of Inventory (6 Month Period) |
10.4 |
12.4 |
-16.0% |
| Bank/Short Sales (likely) |
73.00 |
50.00 |
46.0% |
| Bank/Short Sale Ratio (likely) |
41.0% |
31.3% |
31.2% |
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| Other trends |
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| Recent 1 Month Period (0-1 Months) |
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|
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| Total # Active Listings Over Past 30 Days |
1,608 |
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| Total # of Sales Past 30 Days |
32 |
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|
| Total # of Active Props. (Act, Pend, Cont) |
103 |
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| New Listings Past 30 Days |
45 |
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| Recent 6 Month Period (0-6 Months) |
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|
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| New Listings Past 6 Months |
240 |
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| # Props. Listed Past 6 Months That Sold |
81 |
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| % of Props. Listed Past 6 Mo. That Have Sold |
34% |
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| Bank/Short Sales Compared With Traditional Sales |
| Median $/Sqft of Bank/Short Sales |
$270.73 |
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| Median $/Sqft of Traditional Sales |
$296.86 |
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| % Less Bank/Short Sales Sell For |
9% |
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| % More Traditional Sales Sell For |
10% |
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