One of the original counties of California, San Diego County is named in honor of the Franciscan St. Didacus of Alcala, known in Spanish as San Diego de Alcala de Henares. Located in the far southwest, bordering Mexico, it is the third largest County by population in the State of California. Sun, sand and surf is a way of life with people in San Diego. The county is blessed with year round good weather making it a favorite with first time visitors as well as residents. No wonder then San Diego County is a preferred choice of people looking for prime real estate. The entire County is known for its natural splendor, and whether it is the North County area, Central San Diego, East County, or the South Bay, real estate is buzzing throughout San Diego County. Although most of the communities make for great real estate, each one of them has a distinct identity of its own. Coronado, located across the bay from downtown San Diego, for instance, is a world famous tourist destination offering a peaceful life to its residents. La Jolla, located 15 minutes from San Diego offers up beachside market comforts with fabulous restaurants, art galleries, museums and the famous Scripps Institute of Technology. The list goes on and on. Whether you are buying, selling or renting property in San Diego County, your choices are plenty. It all depends on what kind of property you are looking to buy or sell. A simple online search can yield you great results with virtually thousands of properties up for sale. When buying or selling a home, you should know that there are a variety of factors that influence a home's price. Perhaps the largest contributor is the price of similar homes in the same community. Other factors include a home's proximity to the ocean, the quality of schools, crime statistics, availability of local hospitals, proximity to police stations, availability of recreational facilities, etc. Be sure to find a knowledgeable Realtor who can guide you throughout the home buying and home selling process. A good agent will assist you with locating a home that meets your needs, negotiating a good price, and will guide you through the home loan, escrow and closing processes.
This article evaluates the number of single-family homes sold in July 2006, compared to the number of homes sold in July 2005. Only communities considered to be within Central San Diego County are covered in this analysis. The data is segmented by communities that had an increase in the number of homes sold, compared to communities that had a decrease in the number of homes sold.
Approximately 345 single-family homes were sold in Central San Diego during July 2006. In contrast, approximately 437 homes were sold in July 2005. This represents a 21.1% decline in the number of homes sold between 2005 and 2006.
Although there was an overall decline in the number of homes sold, not all communities within Central San Diego had lowered sales. In fact, the communities listed below had increases in the number of homes sold.
COMMUNITIES WITH INCREASED HOME SALES
- Logan Heights = 10 homes (July 2006) vs. 3 homes (July 2005)= 233.3% increase - Point Loma = 13 homes (July 2006) vs. 9 homes (July 2005)= 44.4% increase - Tierrasanta = 16 homes (July 2006) vs. 12 homes (July 2005) = 33.3% increase - Ocean Beach = 11 homes (July 2006) vs. 10 homes (July 2005) = 10% increase - Linda Vista = 13 hones (July 2006) vs. 12 homes (July 2005)= 8.3% increase - Del Cerro = 21 homes (July 2006) vs. 20 homes (July 2005)= 5% increase
COMMUNITIES WITH LOWER HOME SALES
The communities listed below had decreases in the number of homes sold
- Coronado = 7 homes (July 2006) vs. 14 homes (July 2005) = 50% decrease - University City = 7 homes (July 2006) vs. 14 homes (July 2005) =50% decrease - Paradise Hills = 8 homes (July 2006) vs. 16 homes (July 2005)= 50% decrease - Scripps Ranch = 24 homes (July 2006) vs. 44 homes (July 2005)= 45.5% decrease - Mission Hills = 8 homes (July 2006) vs. 14 homes (July 2005)= 42.9% decrease - Normal Heights = 10 homes (July 2006) vs. 17 homes (July 2005) =41.2% decrease - Mira Mesa = 32 homes (July 2006) vs. 54 homes (July 2005)= 40.7% decrease - La Jolla = 17 homes (July 2006) vs. 28 homes (July 2005) =39.3% decrease - College Grove = 25 homes (July 2006) vs. 38 homes (July 2005)= 34.2% decrease - Sorrento Valley = 2 homes (July 2006) vs. 3 homes (July 2005) = 33.3% decrease - Old Town = 7 homes (July 2006) vs. 10 homes (July 2005)= 30% decrease - Golden Hill = 8 homes (July 2006) vs. 11 homes (July 2005)= 27.3% decrease - City Heights = 17 homes (July 2006) vs. 22 homes (July 2005) = 22.7% decrease - Mission Valley = 12 homes (July 2006) vs. 15 homes (July 2005)= 20% decrease - Clairemont = 21 homes (July 2006) vs. 26 homes (July 2005) =19.2% decrease - North Park = 18 homes (July 2006) vs. 22 homes (July 2005)= 18.2% decrease - San Carlos = 14 homes (July 2006) vs. 17 homes (July 2005)= 17.6% decrease - Encanto = 32 homes (July 2006) vs. 34 homes (July 2005)= 5.9% decrease
NO CHANGE IN HOME SALES
The community of Pacific Beach had 16 homes in sales in both July 2005 and July 2006.
CONCLUSION
On balance, more communities demonstrated decreases rather than increases in the number of homes sold. This indicates that in July 2006, there was less demand for single-family homes in Central San Diego County than in July 2005. However, there are communities that demonstrated increases in the number of homes sold. This reminds us that even within a single County, there are differences in housing demand from community to community.
Be sure to consult with an experienced Real Estate agent before buying or selling real estate in San Diego.
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