State of San Diego Real Estate

State Of San Diego Real Estate – June 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. Additionally, it is important to compare the number of most recent sales to the number of properties on the market.

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 • 858-759-5950 • www.doughertytaylor.com

An update of last month’s analysis of Rancho Santa Fe, Del Mar,

Solana Beach, Encinitas, Coronado, La Jolla, Carmel Valley, Poway & Rancho Bernardo:

RANCHO SANTA FE Update 5/15/2010

SALES ACTIVITY: Over the past month, the total number of closed sales thus far in 2010 rose from 50 to 74, an increase of 24 closed sales. The number of homes in escrow as of May 15, 2010 decreased to 44 from 51 the month before. Contingent sales are now included in our reporting. When factoring in the 24 properties which closed escrow since April 15, 2010, there was an increase of 17 new and contingent escrows reported as of May 15, 2010.

INVENTORY LEVELS: The number of homes listed for sale has remained the same as last month, 294 compared to 295 a month ago. The current listing inventory remains at 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 has 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 more 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 Update 5/15/2010

SALES ACTIVITY: Over the past month, the total number of closed sales in 2010 rose from 34 to 46, an increase of 12 closed sales. The number of homes in escrow as of May 15, 2010 increased from 37 the month before to 40. When factoring in the 12 properties which closed escrow since April 15, 2010, there were 15 net new escrows and contingent sales reported this month.

INVENTORY LEVELS: The number of homes listed for sale decreased for the first time in 3 months; down to 159 from 165 a month ago. The current listing inventory equates to an 11-month supply, down from a 16-month supply when we first began reporting in June of 2009.

THE SILVER LINING: With 46 closed sales through May 15, 2010, demand continues at an acceptable pace. Hopefully this trend will continue throughout 2010. 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.

SOLANA BEACH Update 5/15/2010

SALES ACTIVITY: Over the past month, the total number of closed sales in 2010 rose from 41 to 60, an increase of 19 closed sales. The number of homes in escrow as of May 15, 2010 remained virtually the same at 40

INVENTORY LEVELS: The number of homes listed for sale has remained constant with the levels of a month ago, increasing to 110 from 107. 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.

ENCINITAS Update 5/15/2010

SALES ACTIVITY: Sales activity in Encinitas remains active. There were 61 closed sales during the past month, raising the total number of closings year-to-date from 137 to 198 through May 15, 2010. The number of homes in escrow decreased by 16 ; decreasing from 147 to 131.

INVENTORY LEVELS: During the last month, the total number of homes listed for sale increased slightly from 228 to 254. The inventory level remains right at a 6-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.

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

CORONADO Update 5/15/2010

SALES ACTIVITY: Over the past month, the total number of closed sales in 2010 rose from 48 to 69, an increase of 21 closed sales. The number of homes in escrow as of May 15, 2010 decreased slightly to 38 from 39. When factoring in the 21 properties which closed escrow since April 15, 2010, there were 20 net new escrows reported opened this past month.

INVENTORY LEVELS: The number of homes listed for sale decreased over the four months preceding February 15, 2010, but now has taken a slight uptick for the third straight month, increasing to 226 from 209 a month ago. The current listing inventory equates to just at a 13-month supply. While down up from the previous month, Coronado has continued to have roughly the same number of annual sales 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.

LA JOLLA Update 5/15/2010

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 138 a month ago to 181. The number of homes in escrow increased slightly to 115 from 113 a month ago. We are now reporting contingent sales in these numbers. 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 increased to 421 from 392. The inventory level has risen slightly to a 9-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 9-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.

CARMEL VALLEY Update 5/15/2010

SALES ACTIVITY: Sales activity in Carmel Valley remains consistently active. There were 60 closed sales during the past month, raising the total number of closings year-to-date from 159 to 219. The number of homes in escrow decreased slightly from 158 a month ago to 156. Subtracting the number of closed sales the previous month, there were 58 net new escrows reported as of May 15, 2010.

INVENTORY LEVELS: During the last month, the total number of homes listed for sale decreased slightly from 212 to 207. The inventory level remains at a 4-month supply across all price points. Multiple offers are still occurring on certain properties because of the lack of inventory.

THE SILVER LINING: Carmel Valley’s supply/demand ratio continues to show a stabilizing 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 new 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.

POWAY Update 5/15/2010

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 108 to 140 through May 15, 2010. The number of homes in escrow increased by 15 ; increasing from 135 to 150.

INVENTORY LEVELS: During the last month, the total number of homes listed for sale increased slightly, increasing from 190 to 200. The inventory level remains right at a 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 Update 5/15/2010

SALES ACTIVITY: Over the past month, the total number of closed sales in 2010 rose from 376 to 529, an increase of 153 closed sales. The number of homes in escrow as of May 15, 2010 remained virtually the same at 438 compared to 437 a month ago.

INVENTORY LEVELS: The number of homes listed for sale has increased slightly over the levels of a month a ago; increasing to 468 from 442. The current listing inventory compared to last year’s number of sales equates to right at a 4-month supply, the same as reported last month.

THE SILVER LINING: The Rancho Bernardo 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.

Data represents the activity of various brokers. Data does not represent the sale activity of non-listed proper ties. The data might not be completely accurate. Source: SD MLS/Sandicor, Inc. Michael Taylor does not represent, nor warrant the accuracy of this data. If you have any questions regarding the above information or any real estate matters, please do not hesitateto call. Information subject to change. *Based on 2009 absorption rates.

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