I’m frequently asked about property values in Central-Coastal San Diego. Is this is a good time to sell a home in San Diego?
Even with property values down, many sellers are finally deciding that it is a good time to sell their San Diego homes. We’ve definitely seen prices in many San Diego neighborhoods rise over the past seven to nine months, particularly for single-family detached houses priced in the “conforming” price range up to $697,500.
There is always a demand for ocean-view and bay-view homes in San Diego. Clairemont and Bay Park have the only regular inventory of view homes that are priced under $700,000. Comparable homes for sale in La Jolla are priced twice that high. Plus, inventories of homes for sale in Clairemont and Bay Park are low, with demand generally exceeding supply.
Many of the home owners in this area have owned their homes for many years, so not everyone is upside down on their mortgages. There is equity in many older homes. Many older home owners need to sell regardless of timing. Others are wondering whether rising values justify postponing the decision to sell.
There has been a rush by prospective buyers to take advantage of the $8,000 first-time home buyer tax credit that is set to expire at the end of November. But more than the tax credit expiration, I think it location and the conforming FHA loan limit that is driving sales. Only another across-the-board retraction, or substantial tightening of FHA loan guidelines, is likely to pull down the prices of entry-level homes in central coastal San Diego. But on the other hand, without an increase in the FHA loan limits or general loosening of mortgage lending by private banks, we’ll probably be staring at a $700,000 ceiling for the foreseeable future.
Mission Bay View Home For Sale In San Diego
| Overview |
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Geoffrey Schiering
San Diego Real Estate Professionals at RE/MAX Associates
(619) 200-7612 homes@homesincarmelvalley.com http://homesincarmelvalley.com
Listed by: RE/MAX Associates |
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| Comparable Statistics (Past Three Months Within 1/2 Mile of 3029 Driscoll) |
|
Subject Property |
High |
Low |
Median |
Average |
|
|
| Sq Footage |
1,930 |
2,032 |
1,566 |
1,780 |
1,789 |
|
| Sale Price |
$48,000.00 |
$706,000.00 |
$460,000.00 |
$630,000.00 |
$596,833.33 |
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| Price/Sq Footage |
$24.87 |
$391.57 |
$226.38 |
$344.74 |
$336.88 |
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| Address | City State Zip |
Recording Date |
Sale Price |
Price Per Sq Ft |
Lot Sq Ft |
Building Sq Ft |
Bedrooms |
Total Baths |
|
| 1. | 4229 Huerfano Ave | San Diego CA 92117 |
07/30/2009 |
$650,000 |
$391.57 |
8,000 |
1,660 |
4 |
2 |
| 2. | 3125 Driscoll Dr | San Diego CA 92117 |
09/09/2009 |
$706,000 |
$365.80 |
14,500 |
1,930 |
4 |
3 |
| 3. | 3021 Conner Way | San Diego CA 92117 |
10/05/2009 |
$645,000 |
$391.38 |
6,000 |
1,648 |
3 |
2 |
| 4. | 4071 Avati Dr | San Diego CA 92117 |
08/04/2009 |
$505,000 |
$322.48 |
6,400 |
1,566 |
3 |
3 |
| 5. | 4524 La Crosse Ave | San Diego CA 92117 |
10/09/2009 |
$460,000 |
$226.38 |
6,100 |
2,032 |
6 |
3 |
| 6. | 3078 Jutland Ct | San Diego CA 92117 |
09/10/2009 |
$615,000 |
$323.68 |
9,700 |
1,900 |
4 |
4 |
Geoff the home and numbers looks incredible. What application have you used to depict the property. Seems to be pretty cool and it loaded very quickly despite having some animations.
Thanks Mack. I’ve been using a program from Realbird to create syndicated listing pages. The program also generates code that can be embedded in blogs. Widgets too. I’m experimenting.
New home sales are picking up, and construction is starting on a new master planned community in Carlsbad called The Foothills.
Thanks for your comment. I’d be happy to post any information that you’d like to share about The Foothills… here or on newhomessection.com
I think San Diego is one of the best places to live in, considering how much I like their weather. The economic instability we experiences proved to be quite a great opportunity for other to make smart real estate investments.
I’m glad things are starting to pick up now and stability seems just a arm’s length away.
Buying and selling in the same market is fine. It is when you decide to sell and not buy in the same market that the challenges become entirely like a game of chess.
Buying and selling in the same market conditions is OK, however, if you are selling and choose to hold on to cash until you are in an alternative market, be careful! I would recommend buying a home the requires some remodeling in the same economic location. This is the safest bet.