There are lots of numbers floating around in the various reports that we see or hear about in the media, and a popular question folks often have is "how is the market doing?"
A complex question for sure, and so much of the answer depends on what aspect of the market you are talking about. Prices? Number of sales? What type of properties? Location? Time frame?
Here are some data from the MLS for the Carlsbad real estate market and other communities I service (these data are believed reliable but are not guaranteed), looking at YTD data from 2008 versus 2007.
|
|
|
2008 |
2007 |
Change from 2007 to 2008 |
|||
|
TOWN |
ZIP |
# |
Ave. $ |
# |
Ave. $ |
% Chgn # |
% Chng $ |
|
Carlsbad |
92008
|
131 |
$703,308 |
125 |
$839,372 |
+5% |
-16% |
|
|
92009
|
296 |
$832,566 |
363 |
$905,705 |
-18% |
-8% |
|
|
92010
|
78 |
$552,670 |
107 |
$594,396 |
-27% |
-7% |
|
|
92011
|
171 |
$858,335 |
207 |
$913,718 |
-17% |
-6% |
|
|
TOTAL
|
676 |
$781,353 |
802 |
855,901 |
-16% |
-9% |
|
Encinitas |
92024
|
290 |
$976,074 |
345 |
$1,107,717 |
-16% |
-12% |
|
Cardiff |
92007
|
45 |
$1,001,828 |
52 |
$1,029,433 |
-13% |
-7% |
|
Solana Beach |
92075
|
59 |
$1,302,500 |
61 |
$1,259,068 |
-3% |
+3% |
|
Del Mar |
92014
|
88 |
$2,015,528 |
117 |
$2,392,349 |
-25% |
-16% |
|
La Jolla |
92037
|
173 |
$2,341,837 |
256 |
$2,167,383 |
-32% |
+8% |
|
San Marcos |
92069
|
289 |
$387,937 |
203 |
$553,484 |
+42% |
-30% |
|
|
92078
|
312 |
$521,234 |
304 |
$634,329 |
+3% |
-18% |
|
|
TOTAL
|
601 |
$457,136 |
507 |
$601,959 |
+19% |
-24% |
|
Oceanside |
92054
|
234 |
$446,142 |
218 |
$594,887 |
+7% |
-25% |
|
|
92056
|
389 |
$384,853 |
295 |
$513,438 |
+32% |
-25% |
|
|
92057
|
569 |
$352,481 |
372 |
$500,534 |
+53% |
-30% |
|
|
92058
|
64 |
$321,871 |
n/a |
n/a |
n/a |
n/a |
|
|
TOTAL |
1256 |
$378,397 |
885 |
$528,077 |
+42% |
-28% |
As the data show, real estate IS local, and asking how the market is doing, in general, is probably not a viable question. Some areas have had dramatic increases in sales in 2008 as compared to 2007 while others have shown decreases; San Marcos and Oceanside are communities with large number of short sales, foreclosures and REOs, and prices have dropped fairly significantly. The good news is that we are seeing much more of this inventory moving in these two communities with double-digit increases in sales in 2008.
Prices have jumped around as well, with some communities seeing dramatic decreases from last year, some more moderate, and a few saw increases.
As a comparison, San Diego County as a whole (detached homes only) saw a 13% increase in sales YTD in 2008 compared to 2007 (from 13,683 to 15,412). In contrast, the average price in San Diego County dropped 26% from $743,844 in 2007 to $553,539 (the average price for ALL homes for YTD October 2008 was $467,435, a drop of 23% from the average of $610,236 YTD October in 2007; sales in 2008 increased by 8% from 22,229 to 23,011).
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
Serving Carlsbad (including Aviara, La Costa & Carlsbad Village), Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Carmel Valley, Escondido, and San Diego
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