State of San Diego Real Estate

State Of San Diego Real Estate – October 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:  9/15/2010

Sales Activity: Sales activity in Carlsbad has cooled slightly.  There were 59 closed sales during the past month, raising the total number of closings year-to-date from 664 to 773 through September 15, 2010. The number of homes in escrow increased by 4 ; from 213 to 217.

Inventory levels: During the last month, the total number of homes listed for sale decreased  from 510 to 493.   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:  9/15/2010

Sales Activity: Sales activity in Poway remains active.  There were 44 closed sales during the past month, raising the total number of closings year-to-date from 276 to 320 through September 15, 2010. The number of homes in escrow decreased by 13 ; from 114 to 101.

Inventory levels: During the last month, the total number of homes listed for sale decreased approximately 10%, to 253 from 274 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:  9/15/2010

Sales Activity:  Over the past month, the total number of closed sales in 2010 rose from 988 to 1111, an increase of 123 closed sales.  The number of homes in escrow as of September 15, 2010 dropped by 36 homes, dropping to 318 compared to 354 a month ago.

Inventory levels: The number of homes listed for sale rose by 34, rising to 589 from 555 a month ago.  The current listing inventory compared to last year’s number of sales equates to just over a 4 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:  9/15/2010

Sales Activity: Over the past month, the total number of closed sales thus far in 2010 rose from 142 to 152, an increase of 10 closed sales.  The number of homes in escrow as of September 15, 2010 increased to 45 from 35 a month ago. When factoring in the 10 properties which closed escrow since August 15, 2010, there was an increase of 20 new and contingent escrows reported as of September 15, 2010. The number of closed sales this year (152) is already greater than the closed sales for the entire year of 2009 (148). A welcome sign.

Inventory levels: The number of homes listed for sale has decreased  from the previous month, 314 compared to 337 on August 15th.  The current listing inventory still remains just over 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:  9/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 90 to 97, an increase of 7 closed sales.  The number of homes in escrow as of September 15, 2010 dropped slightly from 37 on August 15th to 34.   When factoring in the 7 properties which closed escrow since August 15, 2010 there were 4 net new escrows reported this month.

Inventory levels: The number of homes listed for sale rose slightly;  from 184 a month ago to 189 on September 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 97 closed sales through September 15, 2010, demand continues at an acceptable pace, although it is 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:  9/15/2010

Sales Activity: Sales activity in Encinitas remains active.  There were 51 closed sales during the past month, raising the total number of closings year-to-date from 341 to 392 through September 15, 2010. The number of homes in escrow decreased by 6 ;  from 119 to 113.

Inventory levels: During the last month, the total number of homes listed for sale increased approximately 4%, to 285 from 276.   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  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:  9/15/2010

Sales Activity: Sales activity in La Jolla remains consistently active.  There were 51 closed sales during the past month, raising the total number of closings year-to-date from 332 a month ago to 383.  The number of homes in escrow decreased slightly from 103 a month ago to 97 on September 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 remained virtually the same, increasing to 495 from 491 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:  9/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 114 to 128, an increase of 14 closed sales.  The number of homes in escrow as of September 15, 2010 decreased to 25 compared to 30 a month ago.

Inventory levels: The number of homes listed for sale has remained constant with the levels of a month ago, decreasing to 113 from 115.  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:  9/15/2010

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 416 to 480.  The number of homes in escrow decreased to 113 from 143 a month ago.  Subtracting the number of closed sales the previous month, there were 34 net new escrows reported as of September 15, 2010.  This is down approximately 50% from the previous 30 day period.

Inventory levels: During the last month, the total number of homes listed for sale decreased from 281 on August 15th to 269. The inventory level remains at just over a 4-and-a-half month supply across all price points.  Multiple offers are still occurring on certain homes because 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:  9/15/2010

Sales Activity: Over the past month, the total number of closed sales in 2010 rose from 134 to 159, an increase of 25 closed sales.  The number of homes in escrow as of September 15, 2010 decreased to 35 compared to 43 a month ago. When factoring in the 25 properties which closed escrow since August 15, 2010 there were 17 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, increasing to 251 from 244.  The current listing inventory equates to right at a 16-month supply. Coronado is on pace to have roughly the same number of total annual sales it has experienced since 2008.

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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