San Diego home sales see positive change
August 18th, 2008 Categories: Real Estate News
SAN DIEGO– Last week I wrote about an article in the North County Times that was headlined, “Area’s home sales jump”. There were dramatic 
changes, up to 525%, in some areas when comparing July ‘07 to July ‘08. There also were some not so bright changes, -56%, in Cardiff.
Well, the article got me thinking about how the areas where many of my clients focus on compare.
While I have clients in many areas of San Diego, many fall into these three areas. Those areas would be Carmel Valley, the area consisting of Clairemont/University City/Linda Vista and lastly the North Park area.
So I looked at the same time frame of July 2007 versus July 2008 and focused only on detached single family homes. And while these areas did well, they did not have the bounce of some areas in the north county. I believe this is primarily due to pricing and number of foreclosures. See the areas in north county that did the ‘best’ were all under $350,000 and have numerous foreclosures down into the $200,000s.
The one constant I did find was that all the areas showed a decrease in 
average square foot price. The areas around Clairemont and North Park also showed a decrease in home size. But while Carmel Valley showed a very slight decrease, roughly 2%, in square footage price the home size jumped from a 2833 sqft average to 3138 sqft.
Another figure that separated the Carmel Valley area was that the average price actually went up 7% from $1.036 mil to $1.145 mil. The average price in the North Park area was down approximately 29.4% and the Clairemont area was down 16%. However when you take into account the change in home size these decrease are tempered to 16.7% for North Park and 12%.
Lastly, that bounce in homes sold was greatest in North Park with an 
increase of 66% while the Clairemont saw the least of the three at 17%. This pattern, high increases in areas of with greater numbers of foreclosures, is consistent with the rest of the county.
If you would like more information about your area, I would be glad to provide you with any information you may need. I can be contacted here.
