Jeannie Niles Real Estate Investment
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San Diego Market Watch: September 2007
| Type | Total Inventory | Pendings | New Listings | New Listings/Sales Ratio | % of Inventory Sold |
|---|---|---|---|---|---|
| Single Family Homes Encinitas West of I-5 (92024) |
28 | 2 | 8 | 4 to 1 | 7% |
| Downtown Condos 2bed.2ba. 1200 sq.ft. plus (92101) |
217 | 8 | 45 | 5.6 to 1 | 3.7% |
| 2-4 Units San Diego (92101 - 92120) |
487 | 24 | 88 | 3.7 to 1 | 5% |
Total Inventory has dropped most likely from expired listings. Sales as a percentage of inventory rose for Single Family Homes in Encinitas but that was because of declining inventory. Downtown condos sales declined the most of any product on the list. One possible reason is the constant barrage of negative news about Downtown San Diego in Money Magazine/CNN. All of the above data however have small numbers so any change reflects a sizable change in the percentage. Review my article “Foreclosures….understanding the Numbers” on the web site.
Note: New Listings also include any price ranges/modifications to a listing made during the month of September,, 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.
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
