The Case-Shiller index for March is out today, and San Diego came in ninth out of the top 20 cities for year-over-year decline:

Town or Area Y-O-Y
Phoenix -36.0%
Las Vegas -31.2%
San Fran -30.1%
Miami -28.7%
Detroit -25.7%
Minneapolis -23.3%
Tampa -22/4%
Los Angeles -22.3%
San Diego -22.0%

But those numbers are for March, and are based on a three-month moving average – is there any break in the trend? Here is the chart of number of detached sales, and average $/sf for Carlsbad-to-Carmel Valley for the period April 15th to May 15th:

Year # of Sales $/sf
2002
330
$264
2003
313
$299
2004
315
$381
2005
249
$406
2006
218
$416
2007
249
$396
2008
177
$399
2009
172
$351

The 12% decline in average PPSF since last year was the biggest Y-O-Y negative change on the chart, so it doesn’t look like the Case-Shiller numbers will be letting up anytime soon.

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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