San Diego Home Info by Gretchen Pagnotta
Archive for the 'market trends' Category
Santaluz is Hot, Hot, Hot
Santaluz suffered the downturn with more than its share of distressed sales. Those days seem like a distant memory as the market has flipped into high gear in 2013! The short sales and foreclosures that have been sold and are now closing are the envy of todays buyers. Agents as well as home owners are in shock as they see prices escalate. People that purchased distressed sales are now the envy of their friends that stayed on the sidelines. The biggest question everyone has is “where is this market headed.” That is the zillion dollar question. I was honored at an Awards Luncheon the other day for top producers for Coldwell Banker. Jeff Culbertson,President of Coldwell Banker LA,Orange County, Desert and San Diego was siting near me. I asked him what his opinion was on the current market. He told me more than 60% of all sales in LA and Orange County have been all cash. In all the counties he stated agents were telling him sellers were experiencing multiple offers and increases in pricing. The SD Union reported on 4/24/2013 that mortgage defaults were the lowest since 2005. Repossessions are shrinking as banks try to work with home owners in modifying their payments with the Homeowners Bill of Rights Program. In March SD Union reported SD County prices hit a 5 year high reaching a median of $380,000. That is a 19% increase from the same time last year using Data Quick statisics.
Selling a Santaluz Home
We have lived in Santaluz for 10 years and love to share the Santaluz lifestyle with people. It is not just about a house/floor plan in this community. We have a saying…you can buy a nice home in many places but the Santaluz lifestyle is UNIQUE. I hear all the time from people that they never really understood what that meant. They ended up purchasing in Santaluz and then learned very quickly that it was easy to make friends, fun to go for coffee and a chat at Fresh Roast, easy to schedule fitness classes at the gym and great fun to walk the trails with their favorite 4 legged companion. If you are considering a sale and want us to share the Santaluz Lifestyle with potential buyers let us know. We are committed to getting people the highest price for their homes and providing global reach marketing with our Coldwell Banker support! All products are in demand; Casitas, Sentinels, Posadas, Garden Homes, Belsera Warmington, Davidsons, Spanish Bungalows and customs. You have a choice with the agent you select to market your home…make it the agents with a strong reputation of working hard, trustworthy and having cutting edge marketing!
Buying a Santaluz Home
Since we live and have sold many homes in Santaluz we know the floorplans and community! Tell us what you are looking for and we will put out our radar to match ypur preferences. Give me a shout at [email protected]
Home That Have Sold in Santaluz in 2013
For detailed report on Santaluz homes that have sold click here!
Santaluz Prices March Upward
The area designated as Santaluz for MLS data includes the gated Santaluz community centered around the Rees Jones Golf Course and encompassing both custom as well as production homes as well as the communities of Verrazano, Santa Monica and Mirasol. The following data has been taken from Coldwell banker Market Quest site and is year to date 2013.
The Median Sales Price in March was $922,750, up 17.5% from $785,000 in March of 2012 . The Average Sales Price in March was $1,177,083, up 7.2% from $1,097,557 in March of 2012 and up 21.0% from $973,091 last month. March 2013 ASP was at a mid range compared to March of 2012 and 2011.
Lack of Inventory Driving Prices Higher in Santaluz
The Total Inventory of Properties available for sale as of March was 28, down -3.4% from 29 last month and down -54.1% from 61 in March of last year. March 2013 Inventory was at the lowest level compared to March of 2012 and 2011.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2013 MSI of 4.7 months was at its lowest level compared with March of 2012 and 2011.
Click here to get all sales with cooperating brokers in Santaluz year to date.
Santaluz Market Time is Getting Shorter
With increased demand and county wide a lack of inventory the time a home sits on the market is lower this year.
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for March was 82, up 28.1% from 64 days last month and down -45.3% from 150 days in March of last year. The March 2013 DOM was at its lowest level compared with March of 2012 and 2011. If you need an evaluatioin of what your home would sell for and you live in North San Diego County let us know! [email protected]
Poway Single Family Home Inventory Trends, zip code area 92064, for September 2012
The Total Inventory of Properties available for sale as of September was 144, down -8.3% from 157 last month and down -30.8% from 208 in September of last year. September 2012 Inventory was at the lowest level compared to September of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The September 2012 MSI of 4.8 months was at its lowest level compared with September of 2011 and 2010.
If you are looking to purchase a home in Poway tell me what you are looking for! If you are thinking of selling I am happy to provide a current evaluation of your home! I am a Top Selling Realtor in San Diego! [email protected]
Click on Chart to enlarge
Poway single family home sale trends for September 2012.
The September 2012 Selling Price per Square Foot of $266 was up 3.1% from $258 last month and up 2.7% from $259 in September of last year.
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values.
Rancho Bernardo single family home sales in the 92128 area were up in September.
September single family property sales in the Rancho Bernardo 92128 area were 51, up 82.1% from 28 in September of 2011 and -8.9% lower than the 56 sales last month. September 2012 sales were at their highest level compared to September of 2011 and 2010. September YTD sales of 413 are running 39.1% ahead of last year’s year-to-date sales of 297.
If you are looking for a home in this area or need an evaluation of your property let me know! [email protected]