SAN DIEGO MEDIAN CONDO PRICES BY ZIP CODE, FEB 2014

Greetings All,

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

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

  • Compared to 1 mo ago, 62% 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 -5%.  The most reliable and notable of these was Hillcrest/Mission Hills with a 41% increase on 16 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 +2%.  Here we have our leader being South Park/Golden Hill with a 44% increase on 7 condos sold and Hillcrest/Mission Hills with a 38% increase on 16 condos sold. As an interesting side note, over both of the most recent past 2 mos straight, 62% of zips have shown an increase or stayed essentially the same in market value during both months.
  • Compared to 1 year ago, we have 85% 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 +19%.  In this1 yr category we have South Park/Golden Hill leading with a 71% increase over market values of 1 yr ago on 7 condos sold and University Heights/Normal Heights with a 69% increase on 11 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

62%

67%

2 MO AGO

77%

76%

1 YR AGO

85%

81%

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

DWN -5%

DWN -2%

2 MO AGO 

UP +2%

UP +2%

1 YR AGO 

UP +19%

UP +10%

For more info on real estate issues and concerns in San Diego, click “Home” above and/or scroll down to “Video – 3 Reasons To Ignore Today’s Bad Housing News” and for even more info, Millionaires See Real Estate as Top Investment for 2014

Cheers Again Until Next Month!  – Peg

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