SAN DIEGO MEDIAN CONDO PRICES BY ZIP CODE, JAN 2014

Greetings All,

The latest in San Diego SOLD condo & townhouse prices through Jan, 2014:

For CONDOS & TOWNHOMES, in the 13 different zip codes which I track, the median sold prices look like:

  • Compared to 1 mo ago, 85% of zips either went up in market value or stayed essentially the same (within +/-4% median market value) over values of the prior month. The average 1 mo change over all 13 zip codes was +12%.  The most reliable and notable of these was Kearney Mesa/Linda Vista with a 19% increase on 11 condos sold.
  • Compared to 2 mos ago, the market value of 77% are either at a higher value or stayed essentially the same (within +/-4%) over the median values of 2 months prior.  The average 2 mo change over all 13 zip codes was +11%.  Here we have our leader being Pacific Beach with a 17% increase on 22 condos sold and University Heights/Normal Heights with a 17% increase on 10 condos sold. As an interesting side note, over both of the most recent past 2 mos straight, 77% of zips have shown an increase or stayed essentially the same in market value during both months.
  • Compared to 1 year ago, we have 77% of our zips with a median market value either higher or essentially the same (within +/-4%).  The average 1 yr change over all 13 zip codes was +36%.  In this1 yr category we have Kearney Mesa/Linda Vista leading with a 76% increase over market values of 1 yr ago on 11 condos sold and Clairemont Mesa with a 68% increase on 8 condos.

TO SEE COMPLETE DETAILS FOR OUR INDIVIDUAL SAN DIEGO ZIP CODES, CLICK HERE:  SAN DIEGO MEDIAN HOME PRICES BY ZIP CODE

Summary:   The below charts give you an excellent overview of San Diego home prices by comparing the percentages of my zip codes that increased in home value for condos vs houses and also comparing the overall average change for all zips combined:

% OF MY TRACKED ZIPS THAT INCREASED OR HELD STEADY

COMPARED TO:

CONDOS

HOUSES

1 MO AGO

85%

90%

2 MO AGO

77%

71%

1 YR AGO

77%

95%

Keep in mind that my 13 zip codes for condos and 21 zip codes for houses, these are only a portion of the entire San Diego picture. It is the norm for any one particular zip code to have a positive increase in market values for 1, 2, or 3 months and then in other months to see a decrease in market values. This can be common (but not guaranteed) with changes in the season such as during the winter holiday season & in Nov – Mar.

Bottomline:  While prices may go up & down within any given year-long period, what we are really looking for is a general increase from year to year so that within that year, the rise of the “up” months is higher and thus outweighs the dips of the “down” months. The movement in some zips may be slow for sure, but, it is still movement and those lagging behind the upward trend in San Diego and in the county as a whole, will all catch up in due time!

TOTAL AVERAGE CHANGE OF ALL MY   TRACKED ZIPS COMBINED

 COMPARED TO:

CONDOS

HOUSES

1 MO AGO

UP +12%

UP +5%

2 MO AGO

UP +11%

UP +2%

1 YR AGO

UP +36%

UP +18%

For more info on real estate issues and concerns in San Diego, click “Home” above and/or scroll down to San Diego Real Estate Ranked 4th Healthiest in Nation By Zillow and for even more info, Record Rebound in Home Equity Gives Owners New Options”

Cheers Again Until Next Month!  – Peg

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