California Foreclosure Market Report, San Diego Real Estate
By: Kathryn Davis
Feb. 11 (FreeRateUpdate.com) – After reading reports on Trulia Real Estate for market trends in California we wanted to take a look at San Diego real estate. Latest reports show it the end of 2008 and through to the 4th quarter of 2009 the housing prices fell dramatically. The median sales price for homes in San Diego, CA for Sep 09 to Nov 09 was $303,180 starting an steady climb back up in prices. This represents an increase of 1.6%, or $4,894, compared to the prior quarter and an increase of 2.8% compared to the prior year. However sales prices have depreciated 34.8% over the last 5 years in San Diego.
Now for 2010 reports on Trulia real estate show the average listing price for homes for sale in San Diego, CA was $495,711 for the week ending Feb 03, which represents a decline of 0.2%, or $1,202, compared to the prior week and a decline of 24.5%, or $160,612, compared to the week ending Jan 13. Prices are starting to come back up and locals hope that this will be signaling that the bottom is over and that neighborhoods will be stabilizing.
Fannie Mae and Freddy Mac reports show that there is a number of homes that will be coming up on the foreclosure market, the exact number isn’t known. According to Trulia there are 6605 active foreclosed homes for sale in San Diego. San Diego is a very desirable area that should bounce back from the market woes. With lots of shopping, tourists spots, night life and activities and cultural centers San Diego is a California treasure and buyers will once again flock to it’s beach communities, desert hideaways and hill top homes.