The reality of the San Diego County real estate market is that the median home price in the county has had eight or nine months of price increases. For an example home prices in the UTC/University City communities were up 9.1% over the course of 2010. Last year's prices were up in San Diego, UTC, University City, Carmel Valley, La Jolla and the coastal communities from Coronado to Oceanside perhaps because all are running short on inventory? Several analysts suggest that especially La Jolla, UTC, Carmel Valley and Carlsbad will see price increases due to the shortage of inventory.
I know I've repeated this theme several times, but home markets are not like commodities what sells for $500 per square foot in one neighborhood may sell for $250 in another and $1200 in another. Have your Realtor do an market analysis on the specific neighborhood you are interested in.
Oh and by the way yesterday's headline "Prices to decline in all the major market except San Diego" has changed today. Now the headline is more about the "Shortage of Housing" because during the slowdown builders did not continue to build and there will soon be a shortage of housing. Who writes this stuff? When you want to know about the San Diego market you are looking at call me at 858-459-9109 or email at Ruth@MillsTeam.com .
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