While there are some areas that experienced price declines of as much as fifty percent since 2007, there are some which have actually increased in price.
Areas hardest hit with price declines are those which are price-driven by lower price foreclosure sales. Areas with few foreclosures have reportedly incurred little to no price decline.
In May of this year, the average median price of a home in the north coastal areas of the County was three-hundred seventy five thousand dollars for a resale home. This price tag was down forty-one point nine percent since December of 2007. However, when the five zip codes of Oceanside that had a large percentage of foreclosure sales were removed from the equation, the actual price decline came in at twenty-two point seven percent.
One area which showed resilience over the past year is Solana Beach. This area posted almost a twenty-five percent increase in home prices when many areas were reporting large decreases. Solana Beach's home price increases were the highest reported in the county. The average median price for a home in the 92075 zip code in 2008 stood at one million, sixty thousand dollars. This reflects a total of one hundred eighty-eight reported sales, a mere 12 less than in 2007. This past November, Solana Beach had only two foreclosures.
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