Noteable stats in this article include "The $476,000 overall median was down $6,000 from August and off $22,000 from September last year, the biggest year-over-year dollar reduction DataQuick has reported since it began keeping local records in 1988."
The article also notes that prices have moved back to early 2005 levels. I suspect we are heading towards 2004 soon in terms of the median price. This blog has many many examples of properties that are listed or have sold for less than 2004 prices.
Local home prices continue to fall
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4 comments:
I live in SD (Pacific Beach) and think the same ting every time I go downtown.
And BTW they're still building.
Which way do you thnk the mirket will go?
ting = thing ;-)
I have friends at the Grande, and they estimate 1/3 are "vacation homes" 1/3 people who actually live there, and 1/3 flippers. . .The vacation home people probably will hold on, but the 1/3 flippers are now in big trouble - $700 or more monthly HOA, and HUGE property taxes coming up in December.
Does anyone know of a chart/graph showing total San Diego county inventory over a period of many years, if not decades?
I would like to see it.
http://sandiego.houserebate.com/ has the total number of inventory at the current time: nearly 24,000.
It would be great if I could see a chart showing the ratio of inventory-for-sale over total product in existence. That figure would be more meaningful when looking at very long periods of time.
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