Cramer got fired up about the national spike in December sales, but locally the sales were slightly cooler last month than in 2009. Let’s note than in 2009 there was a tax credit in play, but for the higher-end communities I don’t think it had much impact.
Most of Carlsbad, Encinitas, Rancho Bernardo, RP, Carmel Valley, and Scripps Ranch’s numbers look fairly steady, and Rancho Santa Fe was the most interesting. Check the 3-year December trend for your area below:
December Detached Sales/Price-Per-SF
| Town | Zip | Dec ’08 | Dec ’09 | Dec ’10 |
| Cardiff | 92007 | 2/$288 | 9/$498 | 5/$498 |
| Carlsbad NW | 92008 | 10/$300 | 12/$327 | 13/$270 |
| Carlsbad SE | 92009 | 28/$260 | 43/$245 | 34/$254 |
| Carlsbad NE | 92010 | 4/$231 | 10/$228 | 15/$240 |
| Carlsbad SW | 92011 | 16/$298 | 18/$299 | 17/$296 |
| Del Mar | 92014 | 3/$558 | 16/$873 | 9/$740 |
| Encinitas | 92024 | 17/$365 | 31/$406 | 27/$444 |
| La Jolla | 92037 | 14/$684 | 29/$618 | 24/$563 |
| W. O-side | 92054 | 18/$254 | 26/$278 | 19/$260 |
| Poway | 92064 | 29/$290 | 18/$293 | 38/$252 |
| RSF | 67+91 | 11/$664 | 12/$374 | 20/$422 |
| Solana Bch | 92075 | 7/$534 | 12/$446 | 8/$497 |
| S. San Mrcs | 92078 | 28/$201 | 39/$201 | 37/$193 |
| West RB | 92127 | 38/$265 | 40/$264 | 31/$271 |
| East RB | 92128 | 18/$254 | 45/$278 | 37/$270 |
| RP | 92129 | 19/$265 | 36/$275 | 33/$265 |
| Carmel Vly | 92130 | 20/$346 | 47/$331 | 32/$337 |
| Scripps Rch | 92131 | 12/$270 | 32/$277 | 32/$268 |
| Total | All Above | 294/$317 | 475/$333 | 431/$316 |
| Total | All SD Co. | 1,859/$219 | 2,082/$245 | 1,873/$240 |
This’ll fix it…
In response to the ongoing challenges REALTORS® face in working with short sales, C.A.R. officers met yesterday with officials at Bank of America to ask for their help and commitment in streamlining and improving their short sales process.
The bank has agreed to meet with our distressed properties task force in the very near future to discuss ways to ensure a smoother short sales process.
C.A.R. plans to meet with other major lenders over the next several weeks to address members’ short sales concerns.
Any chance for 92054?
I added 92054.
Any chance I can help you find a place joe buyer?
Notice how the buyers that require mortgages are concentrating in the best areas possible. Outlaying areas that are not as desirable aren’t experiencing as many sales.
There was a theory amoung all the house bubblers that properties on the outskirts of SD would lose value first followed by less desirable areas in the city. What hasn’t happened yet but has been theorized is that once the number of houses for sale increases in the more desirable areas prices will fall even there.
Also note the market that doesn’t typically use mortgages 1mill+ is losing “value” very consistantly. Makes you wonder how much market manipulation banks are parcipating in.
Thanks for putting South San Marocs in there : )
Jim I know you’re mostly into high end but can you put some low end stats sometime?
I take requests, where do you have in mind?
SD County detached sales under $200,000:
2009: 3,344
2010: 1,571 -53%
SD County detached pricing under $200,000:
2009: $147/sf
2010: $161/sf +9.5%