e are inundated with the days. This is a rise of 19.2
opinions of the so-called percent over November 2006
expert economists on the figures, and condos saw a 16.6
state of the real estate market; percent rise. This isn’t to say
yet, they are forecasting from that the “bubble” is back — it
national or regional statistics. isn’t. Year 2006 had the worse
They are not “in the field” as figures for home and condo sales,
are the San Diego realtors. since they began tracking such
statistics in 1998. The number of
I recently had an opportunity to homes sold was down by 23.4
“lurk” in a realtor’s forum on percent, and condos 26.1 percent
the Internet and was surprised by over 2005 figures. Yet, December
the difference in perception figures are favorable for the San
between the San Diego realtors Diego market.
and the gloom and doom
economists’ predictions for 2007. Median home prices were $555,000
After all, the realtors are the for December and $351,000 for
people who really know what is condos. The average price for
going on in the San Diego real homes rose by 2.9 percent in
estate market. They see what is December to $723,599; and condos
selling and what is not — and rose by 0.3 percent to $408,202.
they know why.
The number of days homes sit on
Realtors in San Diego do not see the market before being sold have
the gloom and doom that unfortunately risen as well, from
economists do. Existing home 64 days in December 2005 to 73
sales are recovering somewhat days in December 2006. The number
since December 2006 with 17,259 of days for condos haz moved from
homes listed for sale and almost 65 days in December 2005 to 73
2,000 homes sold in the last 30 days in December 2006. So,
sellers should prepare for the within San Diego with no options
delay in sales, knowing that it to expand as in other cities. San
will take longer. Diego has Mexico to its south,
Camp Pendleton Marine Base to its
Though all of these figures are north, the Pacific Ocean to its
lower than year-end 2005, the west, and moving east presents
market is resurrecting in San commuting problems. Any other
Diego. Even developers are open land is either part of a
optimistic and continue to build park or reserve. This means the
new housing, though this does add San Diego market always will be
to the inventory already on the an active one.
market and competes with home
owning sellers. With San Diego realtors remaining
optimistic and the city’s economy
San Diego realtors do see the continuing strong, they see the
current market as an advantage to pricing adjustment to more
the buyers. There are some practical levels as healthy and
incredible bargains right now normal. Though all realtors agree
that are bringing previously that it is currently a buyers’
reluctant buyers into the market. market, with the right
experienced realtor, both sellers
One factor that always has helped and buyers can negotiate some
the San Diego real estate market good deals.
is its location. As many realtors
know, there is only so much land
About the Author:
John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more information please visit San Diego Realtor
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J Harris
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