Jeannie Niles Real Estate Investment
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San Diego Market Watch: July 2007
| Type | Total Inventory | New Listings | Pendings | New Listings/Sales Ratio | % of Inventory Sold |
|---|---|---|---|---|---|
| Single Family Homes West of I-5 (92024) |
38 | 10 | 3 | 3 to 1 | 8% |
| Downtown Condos (92101) |
227 | 56 | 17 | 3 to 1 | 7.5% |
| 2-4 Units (92101 - 92120) |
534 | 128 | 27 | 3.3 to 1 | 6% |
Note: New Listings also include any price ranges/modifications to a listing made during the month of July, thus the # of new listings most likely will be overstated. This is the way the MLS reports and I’m unable to calculate this any other meaningful way.
A great article to check out about San Diego Real Estate: http://www.voiceofsandiego.org/articles/2007/08/07/housing/923dqjune071707.txt. Somewhat scary and possibly true reading, however this demonstrates the diverse opinions that are prevalent in the current real estate climate. As I keep repeating myself, it is critical to maintain proper liquidity………if the worst case happens, you are prepared…….if the market does better than anticipated you have extra cash on hand!
Inventory increased in all categories, including new inventory. Pendings were almost identical to March with the exception of multi-family.
Inventory increased in all categories, including new inventory. Pendings declined slightly.
Inventory remained the same, sales increased slightly and the rate of new listings coming on the market slowed substantially.
From what I am observing, it appears banks are becoming more aggressive in pricing their foreclosed properties at low prices to generate a more rapid sale.
ALL areas improved this month!!! Traditionally December is a slow month for real estate activity.
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Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
