Blog: San Diego Real Estate Price Trends for July

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San Diego Real Estate Price Trends for July

San Diego County
Market Update

July 2010

The average price for detached homes in San Diego County increased last month by 7.5% and compared to this time last year they are up 19%. This is not the case for some of the local communities like Scripps Ranch, Rancho Bernardo and Poway. See more data… The attached home prices decreased last month by -5.4% and are the same as this time last year. The price per square foot for both detached and attached homes also followed the same trend. The months of inventory increased slightly last month from 3.3 months to 3.4 months.

Home sales last month were down 5% from the previous month for both single family and attached homes. The level of sales is very close to the sales last year at this time.

Foreclosures were down again last month to 20% while short sales increased to 27%. If anyone is having issues with mortgage payments and is considering foreclosure, please talk to us right away as a short sale is a far superior solution for distressed sales due to the reduced impact on credit and other consequences suffered with a foreclosure. Read More …

There has been a ripple down affect from last month as the inventory of the homes priced from $1.0 to $1.2 Million reduced from 9.25 to 8.15 months and all other inventories increased. This trend is most likely due to price deductions at the higher end of the market which we are seeing now.

Mortgage interest rates continued to decline last month and at the time of this newsletter the 30-Year fixed Rate was 4.58% which is extremely low. See more data…