State of San Diego Real Estate

State Of San Diego Real Estate – January 2011

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: 12/15/2010

Sales Activity: Sales activity in Carlsbad heated up slightly. There were 94 closed sales during the past month, raising the total number of closings year-to-date from 879 to 973 through December 15, 2010. The number of homes in escrow decreased by 20 ; from 197 to 171.

Inventory levels: During the last month, the total number of homes listed for sale decreased from 434 to 407. The inventory level dropped to just under 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: 12/15/2010

Sales Activity: Sales activity in Poway remains active. There were 38 closed sales during the past month, raising the total number of closings year-to-date from 391 to 429 through December 15, 2010. The number of homes in escrow decreased by 14 ; from 106 to 92.

Inventory levels: During the last month, the total number of homes listed for sale decreased approximately 4%, to 216 from 224 a month ago. The inventory level remains 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/The Crosby/Santaluz Luxury Real Estate Update: 12/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 1335 to 1443, an increase of 108 closed sales. The number of homes in escrow as of December 15, 2010 dropped by 5 homes, dropping to 295 compared to 300 a month ago.

Inventory levels: The number of homes listed for sale dropped by 54, to 494 from 548 a month ago. The current listing inventory compared to last year’s number of sales equates to just under 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: 12/15/2010

Sales Activity: Over the past month, the total number of closed sales thus far in 2010 rose from 184 to 203, an increase of 19 closed sales. The number of homes in escrow as of December 15, 2010 dropped to 43 compared to 51 a month ago. When factoring in the 19 properties which closed escrow since November 15, 2010, there were 11 new and contingent escrows reported as of December 15, 2010. The number of closed sales this year (203) 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, 241 compared to 277 on November 15th. The current listing inventory has dropped below a 24-month supply for the second straight month dropping to the lowest level 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: 12/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 118 to 130, an increase of 6 closed sales. The number of homes in escrow as of December 15, 2010 remained virtually the same, 31 compared to 28 a month ago. When factoring in the 12 properties which closed escrow since November 15, 2010 there were 15 net new escrows reported this month. This compares very favorably to the 5 which opened last month.

Inventory levels: The number of homes listed for sale remained virtually the same, 187 a month ago to 186 on December 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 130 closed sales through December 15, 2010, demand continues at an acceptable pace, although still lagging compared to 2009 levels where we finished the year with 176 closed sales. 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: 12/15/2010

Sales Activity: Sales activity in Encinitas remains active. There were 42 closed sales during the past month, raising the total number of closings year-to-date from 482 to 524 through December 15, 2010. The number of homes in escrow decreased by 11; from 96 to 85.

Inventory levels: During the last month, the total number of homes listed for sale dropped to, 239 compared to 268 a month ago. The inventory level fell to just under 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: 12/15/2010

Sales Activity: Sales activity in La Jolla remains consistently active. There were 43 closed sales during the past month, raising the total number of closings year-to-date from 461 a month ago to 504. The number of homes in escrow increased slightly; from 89 a month ago to 91 on December 15th. Subtracting the number of closed sales the previous month, there were 45 new net escrows reported open.

Inventory levels: The total number of homes listed for sale decreased to 396 from 444 a month ago. The inventory level remains 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 Beach Luxury Real Estate Update: 12/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 145 to 159, an increase of 14 closed sales. The number of homes in escrow as of December 15, 2010 decreased to 27 compared to 30 a month ago.

Inventory levels: The number of homes listed for sale decreased from the levels of a month ago; to 88 from 104. The current listing inventory compared to last year’s number of sales equates to an 8-month supply, slightly below the level 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: 12/15/2010

Sales Activity: Sales activity in Carmel Valley remains consistently active. There were 54 closed sales during the past month, raising the total number of closings year-to-date from 583 to 637. The number of homes in escrow dropped to 99 from 108 a month ago. Subtracting the number of closed sales the previous month, there were 45 net new escrows reported as of December 15, 2010.

Inventory levels: During the last month, the total number of homes listed for sale decreased from 256 on November 15th to 247. The inventory level dropped slightly to a 4-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: 12/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 188 to 212, an increase of 24 closed sales. The number of homes in escrow as of December 15, 2010 dropped quite a bit; to 26 compared to 43 a month ago. When factoring in the 24 properties which closed escrow since November 15, 2010 there were 6 net new escrows reported opened this past month.

Inventory levels: The number of homes listed for sale remained virtually the same as last month, decreasing to 225 from 230. The current listing inventory remains right at a 15-month supply. Coronado sales levels this year will outpace 2009 (188) and 2008 (170), a good indication that the market is moving toward stabilization.

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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