State of San Diego Real Estate

The State Of San Diego Real Estate – July 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, SOLANA BEACH, ENCINITAS, 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:  6/15/2011

Sales Activity: Sales activity in Carlsbad heated up slightly.  There were 100 closed sales during the past month, raising the total number of closings year-to-date from 321 to 421 through June 15, 2011. The number of homes in escrow increased by 13; from 238 to 251. Of those, 89 are contingent sales, the majority of which are “Short Sales”.

Inventory levels: During the last month, the total number of homes listed for sale decreased slightly, decreasing to 497 compared to 500 a month ago.  The inventory level remains right at a 6-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.

Solana Beach Luxury Real Estate Update:  6/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 46 to 64, an increase of 18 closed sales.  The number of homes in escrow as of June 15, 2011 rose to 35 from 34 a month ago. Of the 35 open escrows, 9 are contingent sales, the majority of which are “Short Sales”.

Inventory levels: The number of homes listed for sale increased to 127 compared to 123 a month ago.  The current listing inventory compared to last year’s number of sales equates to a 6-month supply.

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.

 

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

Encinitas Luxury Real Estate Update:  6/15/2011

Sales Activity: Sales activity in Encinitas remains active.  There were 53 closed sales during the past month, raising the total number of closings year-to-date from 180 to 233 through June 15, 2011. The number of homes in escrow decreased by 6; to 116 from 122 a month ago. Of those open escrows, 29 are contingent sales, with the majority being “Short Sales”.

Inventory levels: During the last month, the total number of homes listed for sale increased to 265 compared to 263 a month ago.   The inventory level remains right at a 5-month supply.

The Silver Lining: The Encinitas 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.

Poway Luxury Real Estate Update:  6/15/2011

Sales Activity: Sales activity in Poway remains active.  There were 55 closed sales during the past month, raising the total number of closings year-to-date from 174 to 229 through June 15, 2011. The number of homes in escrow decreased by 8; to 117 from 125 a month ago.    Of those 117 escrows, 37 are contingent sales with the majority being “Short Sales”

Inventory levels: During the last month, the total number of homes listed for sale increased to 230 compared to 210 a month ago.  The inventory level remains between a 5-and-6-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:  6/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 477 to 608, an increase of 131 closed sales.  The number of homes in escrow as of June 15, 2011 decreased by 7 homes; to 332 compared to 339 a month ago.  134 of those open escrows are contingent sales, with the majority of those sales being “Short Sales”

Inventory levels: The number of homes listed for sale increased by 25 homes;  to 574 from 549 a month ago.  The current listing inventory compared to last year’s number of sales equates to right at a 4-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.

Rancho Santa Fe Luxury Real Estate Update:  6/15/2011

Sales Activity:  Over the past month, the total number of closed sales thus far in 2011 rose from 91 to 112, an increase of 21 closed sales.  The number of homes in escrow as of June 15, 2011 dropped to 45 compared to 50 a month ago. Of those, 12 are contingent sales with the majority being “Short Sales”.  When factoring in the 21 properties which closed escrow since May 15, 2011, there were 16 new and contingent escrows reported as of June 15, 2011.

Inventory levels: The number of homes listed for sale increased from the previous month, 276 compared to 267 on May 15th.  The current listing inventory has risen slightly to just over a 15-month supply.  While still the highest level of inventory when compared to other San Diego County luxury home communities, the pace of sales is consistent with last year.

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:  6/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 78 to 95, an increase of 17 new closed sales.  The number of homes in escrow as of June 15, 2011, dipped slightly from 43 to 39. Of those, 7 are contingent sales, with the majority being “Short Sales”.   When factoring in the 17 properties which closed escrow since May 15, 2011, there were 14 net new escrows reported this month.

Inventory levels: The number of homes listed for sale rose slightly to 178 compared to 162 a month ago. The current listing inventory remains right at a 14-month supply, down from a 16-month supply when we first began reporting in June of 2009.

The Silver Lining: With 95 YTD closed sales through June 15, 2011, demand continues at an acceptable pace. 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.

La Jolla Luxury Real Estate Update:  6/15/2011

Sales Activity: Sales activity in La Jolla remains consistently active.  There were 55 closed sales during the past month, raising the total number of closings year-to-date from 182 a month ago to 237.  The number of homes in escrow increased slightly to 108 compared to 96 on May 15, 2011.  Of those, 30 are contingent sales with the majority being “Short Sales”.  Subtracting the number of closed sales the previous month, there were 67 net new escrows reported open.

Inventory levels: The total number of homes listed for sale decreased to 475 from 481 a month ago.   The inventory level equates to an 11-month supply, slightly above the lowest level since we first reported in June 2009.

The Silver Lining: La Jolla’s supply/demand ratio has continued to remain relatively stable. 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.

 

Carmel Valley Luxury Real Estate Update:  6/15/2011

Sales Activity: Sales activity in Carmel Valley remains consistently active.  There were 61 closed sales during the past month, raising the total number of closings year-to-date from 232 to 293.  The number of homes in escrow increased slightly to 126 from 124 a month ago.  Of those, 47 are contingent sales, the majority of which are “Short Sales”.

Inventory levels: During the last month, the total number of homes listed for sale rose to 290 from 257 a month ago.   The inventory level remains just over a 4 -month supply across all price points.  This indicates a fairly stabilized market.

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:  6/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 74 to 100, an increase of 26 closed sales.  The number of homes in escrow as of June 15, 2011 increased to 34 compared to 27 a month ago. Of those, only 5 are contingent “Short Sales”. When factoring in the 26 properties which closed escrow since May 15, 2011, there were 33 net new escrows reported opened this past month. A very healthy increase when compared to the previous month.

Inventory levels: The number of homes listed for sale rose ever so slightly to 249 compared to 247 a month ago.  The current listing inventory is just over a 12-month supply, indicating a continuing move toward a stabilized market.

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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