State of San Diego Real Estate

State Of San Diego Real Estate – December 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:  11/15/2010

Sales Activity: Sales activity in Carlsbad heated up slightly.  There were 83 closed sales during the past month, raising the total number of closings year-to-date from 796 to 879 through November 15, 2010. The number of homes in escrow decreased by 10; from 207 to 197.

Inventory levels: During the last month, the total number of homes listed for sale decreased  from 479 to 434.   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.

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

Poway Luxury Real Estate Update:  11/15/2010

Sales Activity: Sales activity in Poway remains active.  There were 32 closed sales during the past month, raising the total number of closings year-to-date from 359 to 391 through November 15, 2010. The number of homes in escrow decreased by 2;  from 108 to 106.

Inventory levels: During the last month, the total number of homes listed for sale decreased approximately 5%, to 224 from 235 a month ago.   The inventory level is between a 6-and-7-month supply.

The Silver Lining: Poway’s supply/demand ratio remains healthy.  This is good news for both 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:  11/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 1236 to 1335, an increase of 99 closed sales.  The number of homes in escrow as of November 15, 2010 dropped by 7 homes, to 300 compared to 307 a month ago.

Inventory levels: The number of homes listed for sale dropped by 11,  to 548 from 559 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, Santaluz, The Crosby 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.

Rancho Santa Fe Luxury Real Estate Update:  11/15/2010

Sales Activity:  Over the past month, the total number of closed sales thus far in 2010 rose from 172 to 184, an increase of 12 closed sales.  The number of homes in escrow as of November 15, 2010 rose to 51 compared to 44 a month ago. When factoring in the 12 properties which closed escrow since October 15, 2010, there was an increase of 19 new and contingent escrows reported as of November 15, 2010. The number of closed sales this year (184) 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, 277 compared to 300 on October 15th.  The current listing inventory has dropped below a 24-month supply for the first time since we began reporting in June of 2009.  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:  11/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 112 to 118, an increase of 6 closed sales.  The number of homes in escrow as of October 15, 2010 remained virtually the same,  28 compared to 29 a month ago.   When factoring in the 6 properties which closed escrow since October 15, 2010 there were just 5 net new escrows reported this month.

Inventory levels: The number of homes listed for sale rose slightly, 185 a month ago to 187 on November 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 118 closed sales through November 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:  11/15/2010

Sales Activity: Sales activity in Encinitas remains active.  There were 35 closed sales during the past month, raising the total number of closings year-to-date from 447 to 482 through November 15, 2010. The number of homes in escrow increased by 2; from 94 to 96.

Inventory levels: During the last month, the total number of homes listed for sale remained virtually the same, 268 compared to 269 a month ago.   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:  11/15/2010

Sales Activity: Sales activity in La Jolla remains consistently active.  There were 34 closed sales during the past month, raising the total number of closings year-to-date from 427 a month ago to 461.  The number of homes in escrow increased from 80 a month ago to 89 on November 15th. Subtracting the number of closed sales the previous month, there were 43 new net escrows reported open.

Inventory levels: The total number of homes listed for sale decreased to 444 from 473 a month ago.   The inventory level is right at 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 BeachLuxury Real Estate Update:  11/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 137 to 145, an increase of 8 closed sales.  The number of homes in escrow as of November 15, 2010 increased to 30 compared to 27 a month ago.

Inventory levels: The number of homes listed for sale has remained constant with the levels of a month ago 104.  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:  11/15/2010

Sales Activity: Sales activity in Carmel Valley remains consistently active.  There were 39 closed sales during the past month, raising the total number of closings year-to-date from 544 to 583.  The number of homes in escrow rose to 108 from 106 a month ago.  Subtracting the number of closed sales the previous month, there were 41 net new escrows reported as of November 15, 2010.

Inventory levels: During the last month, the total number of homes listed for sale decreased from 258 on November 15th to 256.  The inventory remains at 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 inventory levels.

The Silver Lining: Carmel Valley’s supply/demand ratio continues to show a stabilized market. This is great news for both the 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:  11/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 176 to 188, an increase of 12 closed sales.  The number of homes in escrow as of November 15, 2010 remained virtually the same, 43 compared to 44 a month ago. When factoring in the 12 properties which closed escrow since September 15, 2010 there were 13 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 230 from 240.  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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