Real Estate

State Of San Diego Real Estate – November 2010

As with any detailed market analysis, it is essential that we look at past sales activity by price categories in order to understand how the current sales compare to the past sales activity.
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CARLSBAD, POWAY, RANCHO BERNARDO/SANTALUZ/THE CROSBY Luxury Real Estate!

Plus Rancho Santa Fe, Del Mar, La Jolla, Carmel Valley, Solana Beach, Encinitas, and Coronado Luxury Real Estate Updates!

 

The State of San Diego Real Estate

The Approach:

As with any detailed market analysis, it is essential that we look at past sales activity by price categories in order to understand how the current sales compare to the past sales activity. Additionally, it is important to compare the number of most recent sales to the number of properties on the market. This assists in understanding how the supply/demand ratio has impacted and will continue to impact values, and helps forecast the number of sales that may occur in the future. This information is vital for the development and implementation of marketing and pricing strategies for both sellers and buyers.

Written by Michael Taylor, Prudential California Realty • 858-756-5120• www.themichaeltaylorgroup.com

Carlsbad Luxury Real Estate Update:  10/15/2010

Sales Activity: Sales activity in Carlsbad has cooled slightly.  There were 73 closed sales during the past month, raising the total number of closings year-to-date from 723 to 796 through October 15, 2010. The number of homes in escrow decreased by 10 ; from 217 to 207.

Inventory levels: During the last month, the total number of homes listed for sale decreased  from 493 to 479.   The inventory level remains right at a 7-month supply.

The Silver Lining: Carlsbad’s supply/demand ratio remains healthy.  This is good news for both the buyers and sellers.  Carlsbad remains one of the most stable communities in the North County area. The favorable balance of the number of new home sales and the number of homes available to purchase should provide both sellers and buyers a level of comfort in making their selling and buying decisions.

Poway Luxury Real Estate Update:  10/15/2010

Sales Activity: Sales activity in Poway remains active.  There were 39 closed sales during the past month, raising the total number of closings year-to-date from 320 to 359 through October 15, 2010. The number of homes in escrow increased by 7; from 101 to 108.

Inventory levels: During the last month, the total number of homes listed for sale decreased approximately 10%, to 235 from 253 a month ago.   The inventory is between a 6-and-7-month supply.

The Silver Lining: Poway’s supply/demand ratio remains healthy.  This is good news for both the buyers and sellers.  Poway remains one of the most stable communities in the North County area. The favorable balance of the number of new home sales and the number of homes available to purchase should provide both sellers and buyers a level of comfort in making their selling and buying decisions.

Rancho Bernardo, Santaluz, The Crosby Luxury Real Estate Update:  10/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 1111 to 1236, an increase of 125 closed sales.  The number of homes in escrow as of October 15, 2010 dropped by 11 homes, to 307 compared to 318 a month ago.

Inventory levels: The number of homes listed for sale dropped by 30, to 559 from 589 a month ago.  The current listing inventory compared to last year’s number of sales equates to right at a 5-and-a-half-month supply.

The Silver Lining: The Rancho Bernardo market remains consistently stable. There continues to be a wide variety of homes that buyers can choose from.  Sellers becoming more competitive with their pricing still have the opportunity to entice the right buyer and buyers have the opportunity to purchase a home with the advantage of the competitive environment.

Carlsbad Chart – click here

Carlsbad Graph- click here

Carmel Valley Chart – click here

Carmel Valley Graph- click here

Coronado Chart- click here

Coronado Graph – click here

Del Mar Chart- click here

Del Mar Graph – click here

Encinitas Chart – click here

Encinitas Graph- click here

Solana Beach Chart- click here

Solana Beach Graph – click here

La Jolla Chart- click here

La Jolla Graph – click here

Rancho Sante Fe Chart- click here

Rancho Sante Fe Graph – click here

Poway Chart click here

Poway Graph – click here

Rancho Bernardo Chart- click here

Rancho Bernardo Fe Graph – click here

Community Comparison – click here

Rancho Santa Fe Luxury Real Estate Update:  10/15/2010

Sales Activity:  Over the past month, the total number of closed sales thus far in 2010 rose from 152 to 172, an increase of 20 closed sales.  The number of homes in escrow as of October 15, 2010 remained virtually the same at 44 compared to 45 a month ago. When factoring in the 20 properties which closed escrow since September 15, 2010, there was an increase of 19 new and contingent escrows reported as of October 15, 2010. The number of closed sales this year (172) is already greater than the closed sales for the entire year of 2009 (148) and 2008 (166).  A welcome sign.

Inventory levels: The number of homes listed for sale has decreased from the previous month, 300 compared to 314 on September 15th.  The current listing inventory still remains just at a 24-month supply. While still the highest level of inventory when compared to other San Diego County luxury home communities, the pace of sales is definitely improved over a year ago.

The Silver Lining: With the number of sales increasing, we are continuing to move toward a more stabilized marketplace. There continues to be a wide variety of homes that buyers can choose from.   Sellers willing to become competitive with their pricing still have an opportunity to entice the right buyer and buyers can take comfort that it remains a great time to buy luxury real estate.

Del Mar Luxury Real Estate Update:  10/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 97 to 112, an increase of 15 closed sales.  The number of homes in escrow as of October 15, 2010 dropped from 34 on September 15th to 29.   When factoring in the 15 properties which closed escrow since September 15, 2010 there were 10 net new escrows reported this month.

Inventory levels: The number of homes listed for sale dropped slightly, from 189 a month ago to 184 on October 15th. The current listing inventory remains at just over a 12-month supply, down from a 16-month supply when we first began reporting in June of 2009.

The Silver Lining: With 112 closed sales through October 15, 2010, demand continues at an acceptable pace, although still lagging compared to 2009 levels. There continues to be a wide variety of homes that buyers can choose from.  Sellers willing to become more competitive with their pricing will have an opportunity to entice the right buyer.

Encinitas Luxury Real Estate Update:  10/15/2010

Sales Activity: Sales activity in Encinitas remains active.  There were 55 closed sales during the past month, raising the total number of closings year-to-date from 392 to 447 through October 15, 2010. The number of homes in escrow decreased by 19; from 113 to 94.

Inventory levels: During the last month, the total number of homes listed for sale decreased to 269 from 285.   The inventory level remains right at a 7-month supply.

The Silver Lining: Encinitas’s supply/demand ratio remains healthy.  This is good news for both the buyers and sellers.  Encinitas remains one of the most stable communities in the North County area. The favorable balance of the number of new home sales and the number of homes available to purchase should provide both sellers and buyers a level of comfort in making their selling and buying decisions.

La Jolla Luxury Real Estate Update:  10/15/2010

Sales Activity: Sales activity in La Jolla remains consistently active.  There were 44 closed sales during the past month, raising the total number of closings year-to-date from 383 a month ago to 427.  The number of homes in escrow decreased from 97 to 80 on October 15th. Subtracting the number of closed sales the previous month, there were 27 new net escrows reported open.

Inventory levels: The total number of homes listed for sale decreased slightly; to 473 from 495 a month ago.   The inventory level is slightly above a 10-month supply, remaining near the lowest level since we first reported in June 2009.

The Silver Lining: La Jolla’s supply/demand ratio has continued to improve since we started reporting and continues to hover at about a 10-month supply. This remains good news for both the buyers and sellers.  Buyers still have a variety of homes to consider, and sellers are finding that with competitive pricing they have the opportunity to sell their home within a reasonable marketing period.

Solana Beach Luxury Real Estate Update:  10/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 128 to 142, an increase of 14 closed sales.  The number of homes in escrow as of October 15, 2010 increased to 27 compared to 25 a month ago.

Inventory levels: The number of homes listed for sale has remained constant with the levels of a month ago, decreasing to 104 from 113.  The current listing inventory compared to last year’s number of sales equates to just over an 8-month supply, the same as reported a month ago.

The Silver Lining: The Solana Beach market remains relatively stable. There continues to be a wide variety of homes that buyers can choose from.  Sellers willing to become more competitive with their pricing still have an opportunity to entice the right buyer and buyers have the opportunity to purchase a home with the advantage of the competitive environment.

Carmel Valley Luxury Real Estate Update:  10/15/2010

Sales Activity: Sales activity in Carmel Valley remains consistently active.  There were 64 closed sales during the past month, raising the total number of closings year-to-date from 480 to 544.  The number of homes in escrow decreased to 106 from 113 a month ago.  Subtracting the number of closed sales the previous month, there were 42 net new escrows reported as of October 15, 2010.

Inventory levels: During the last month, the total number of homes listed for sale decreased from 269 to 258 on October 15th.  The inventory remains just over a 4-and-a-half month supply across all price points.  Multiple offers are still occurring on certain homes as a result of the low of inventory levels.

The Silver Lining: Carmel Valley’s supply/demand ratio continues to show a stabilized market. This is great news for both buyers and sellers.  Carmel Valley remains one of the most stable communities within its geographic area. The favorable balance of the number of home sales and the number of homes available to purchase continues to provide both sellers and buyers a level of comfort in making their selling and buying decisions.

Coronado Luxury Real Estate Update:  10/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 159 to 176, an increase of 17 closed sales.  The number of homes in escrow as of October 15, 2010 increased to 44 compared to 35 a month ago. When factoring in the 17 properties which closed escrow since September 15, 2010 there were 26 net new escrows reported opened this past month.

Inventory levels: The number of homes listed for sale is also virtually the same as last month, decreasing to 240 from 251.  The current listing inventory equates to right at a 15-month supply. Coronado is on pace to have roughly the same number of total annual sales it has experienced since 2009.

The Silver Lining: There continues to be a wide variety of homes that buyers can choose from.  Sellers willing to become more competitive with their pricing still have an opportunity to entice the right buyer and buyers have the opportunity to purchase a home with the advantage of the competitive environment.  This remains a great time to buy luxury real estate.

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