State of San Diego Real Estate

State Of San Diego Real Estate – March 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!

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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:  2/15/2011

Sales Activity:  Sales activity in Carlsbad heated up slightly.  There were 49 closed sales during the past month, raising the total number of closings year-to-date from 18 to 67 through February 15, 2011. The number of homes in escrow increased by 33; from 158 to 191.

Inventory levels:  During the last month, the total number of homes listed for sale increased from 409 to 438.   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.

Poway Luxury Real Estate Update:  2/15/2011

Sales Activity:  Sales activity in Poway remains active.  There were 36 closed sales during the past month, raising the total number of closings year-to-date from 9 to 45 through February 15, 2011. The number of homes in escrow increased by 24;  to 110 from 86 a month ago.

Inventory levels: During the last month, the total number of homes listed for sale decreased somewhat, to 201 from 213 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:  2/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 34 to 117, an increase of 83 closed sales.  The number of homes in escrow as of February 15, 2011 increased by 51 homes; to 320 compared to 369 a month ago.

Inventory levels:  The number of homes listed for sale dropped by 26, to 489 from 515 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:  2/15/2010

Sales Activity:  Over the past month, the total number of closed sales thus far in 2011 rose from 6 to 21, an increase of 15 closed sales.  The number of homes in escrow as of February 15, 2011 rose to 49 compared to 33 a month ago. When factoring in the 15 properties which closed escrow since January 15, 2011, there were 31 new and contingent escrows reported as of February 15, 2011.

Inventory levels: The number of homes listed for sale increased from the previous month, 251 compared to 242 on January 15th.  The current listing inventory has dropped below an 18-month supply, 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 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.

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

Del Mar Luxury Real Estate Update:  2/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 7 to 21, an increase of 14 closed sales.  The number of homes in escrow as of February 15th remained virtually the same, 35 compared to 33 a month ago.   When factoring in the 12 properties which closed escrow since January 15, 2011, there were 15 net new escrows reported this month.

Inventory levels: The number of homes listed for sale rose slightly to 175 compared to 167 a month ago. The current listing inventory has risen to a 15-month supply, down from a 16-month supply when we first began reporting in June of 2009.

The Silver Lining: With 21 YTD closed sales through February 15, 2011, 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:  2/15/2011

Sales Activity: Sales activity in Encinitas remains active.  There were 38 closed sales during the past month, raising the total number of closings year-to-date from 6 to 44 through February 15, 2011. The number of homes in escrow increased by 14; to 91 from 77.

Inventory levels: During the last month, the total number of homes listed for sale dropped to 231 compared to 234 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.

La Jolla Luxury Real Estate Update:  2/15/2011

Sales Activity: Sales activity in La Jolla remains consistently active.  There were 27 closed sales during the past month, raising the total number of closings year-to-date from 17 a month ago to 44.  The number of homes in escrow increased from 74 a month ago to 89 on February 15th. Subtracting the number of closed sales the previous month, there were 42 net new escrows reported open.

Inventory levels: The total number of homes listed for sale increased to 400 from 380 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 homes within a reasonable marketing period.

Solana Beach Luxury Real Estate Update:  2/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 2 to 11, an increase of 9 closed sales.  The number of homes in escrow as of February 15, 2011 increased to 30 compared to 22 a month ago.

Inventory levels: The number of homes listed for sale remained virtually the same as the levels of a month ago, decreasing to 87 from 88.  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.

Carmel Valley Luxury Real Estate Update:  2/15/2011

Sales Activity: Sales activity in Carmel Valley remains consistently active.  There were 42 closed sales during the past month, raising the total number of closings year-to-date from 15 to 57.  The number of homes in escrow increased to 113 from 94 a month ago.  Subtracting the number of closed sales the previous month, there were 61 net new escrows reported as of February 15, 2011.

Inventory levels: During the last month, the total number of homes listed for sale remained exactly the same at 222.  The inventory level remains at a 4 -month supply across all price points.  This indicates a very stabilized market. Multiple offers could still occur at the lower price points.

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:  2/15/2011

Sales Activity:  Over the past month, the total number of closed sales in 2011 rose from 6 to 19, an increase of 13 closed sales.  The number of homes in escrow as of February 15, 2011 rose slightly; to 39 compared to 32 a month ago. When factoring in the 13 properties which closed escrow since January 15, 2011, there were 20 net new escrows reported opened this past month.

Inventory levels: The number of homes listed for sale rose slightly to 205 compared to 198 a month ago.  The current listing inventory has fallen to an 11-month supply, indicating a further 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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