By linda sansone on
2/25/2009 9:49 PM
A quarter ago, we analyzed La Jolla’s real estate market (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92037 zip codes) over a 12-year period. For this analysis, we decided to zoom back in and focus on the most recent 12 months, 2/1/2008 – 1/31/2009, and compare it to the previous 12-month period, 2/1/2007 – 1/31/2008.
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By linda sansone on
1/16/2009 10:00 PM
When comparing 2008 to 2007, two factors remained constant for the Rancho Santa Fe real estate market (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92067 and 92091 zip codes): inventory increased (Chart B) and sales decreased (Chart D). Contrasting this year-to-year data shows that inventory was on average 10% higher in 2008, while the number of sales was 20% lower (Chart A).
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By linda sansone on
12/5/2008 10:42 PM
Over the last 12 years, Coronado (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92118 zip code) has seen its inventory (or the daily average number of properties listed for sale) fluctuate.The ratio of ‘Inventory/Sales’ has gone from a historical trend of 6 to now 17 (with some sharp periodic upward spikes over the last 2 years). Essentially, what this means is that historically for every house sold 6 were for sale. Over the last 2 years, that number has averaged 17 and climbing, nearly a 200% increase.
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By Linda Sansone on
12/5/2008 9:33 PM
Compounding the additional supply has been a reduction in demand (or the number of properties sold). Over this same 12-year period, monthly sales have typically fluctuated between 60 and 80 properties. However, over the last 2 years, monthly sales have dropped to between 40 and 60 properties. This divergence of demand and supply exasperates the over-supply condition. Neither variable means much alone. They must be analyzed in respect to the other. If inventory rises proportionally to the rise in sales, values are supported. It is when one or both of these variables become dislocated from the other that values are susceptible to change.
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By Linda Sansone on
10/29/2008 2:22 AM
Too often we want to understand the health of our local real estate, but can only find either raw data or broad statistics which seem disconnected, contradictory, or without explanation. In order to help keep you informed about local areas in an objective way, Premier Magazine will be monitoring the health of different San Diego areas in each edition. In this edition, we revisit Coronado and Downtown San Diego. The other areas we are monitoring: Rancho Santa Fe, Del Mar, La Jolla, and Solana Beach/Encinitas.
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By Linda Sansone on
9/13/2008 4:35 AM
Too often we want to understand the health of our local real estate, but can only find either raw data or broad statistics which seem disconnected, contradictory, or without explanation. In order to help keep you informed about local areas in an objective way, Premier Magazine will be monitoring the health of different San Diego areas in each edition. In this edition, we revisit Coronado and Downtown San Diego. The other areas we are monitoring: Rancho Santa Fe, Del Mar, La Jolla, and Solana Beach/Encinitas.
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By Linda Sansone on
9/13/2008 4:15 AM
Too often we want to understand the health of our local real estate, but can only find either raw data or broad statistics which seem disconnected, contradictory, or without explanation. In order to help keep you informed about your local area in an objective way, Premier Magazine will be monitoring the health of different San Diego areas in each edition. In this edition, we look at La Jolla and Solana Beach/Encinitas. The other areas we are monitoring: Downtown San Diego, Coronado, Rancho Santa Fe, and Del Mar.
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By Linda Sansone on
9/13/2008 3:26 AM
Too often we want to understand the health of our local real estate, but can only find either raw data or broad statistics which seem disconnected, contradictory, or without explanation. In order to help keep you informed about your local area in an objective way, Premier Magazine will be monitoring the health of different San Diego areas in each edition. In this edition, we look at Rancho Santa Fe and Del Mar. The other areas we are monitoring: La Jolla, Solana Beach/Encinitas, Downtown San Diego, and Coronado.
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By Linda Sansone on
7/2/2008 11:08 PM
Coronado A lot has happened in the Coronado real estate market (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92118 zip code), since we last wrote about it a quarter ago in the April 2008 edition of Premier Magazine. At that time we compared 2007 to 2006 and were generally pleased with the contrast, relative to other areas’ performance. In this edition
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By Linda Sansone on
7/2/2008 10:46 PM
La Jolla One variable was consistent across all prices ranges in La Jolla (defined for the purpose of this analysis as all attached and detached residential properties listed with the San Diego Multiple Listing Service for the 92037 zip codes) when comparing January through April of this year to last: fewer properties have sold in the first trimester of 2008 than that of 2007. Not surprising after coming out of a time with television shows about house flipping. Nevertheless, the decrease is rather dramatic for a 12-month period; with 24% fewer sales in the first trimester of 2008 compared 2007. Specifically, for this period, there were 146 properties sold in 2008, compared to 193 in 2007. However, looking beyond the number of properties sold, the other variables that help describe the market look like a mixed bag, until one starts examining the behavior of different property price ranges or price subpopulations.
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