Jeannie Niles Real Estate Investment
 |
San Diego Market Watch: December 2007
San Diego Area
| Type | Total Inventory | Pendings | New Listings | New Listings/Sales Ratio | Sales As Percent Of Inventory |
|---|---|---|---|---|---|
| Single Family Homes Encinitas West of I-5 (92024) |
29 | 2 | 3 | 1.5 to 1 | 7% |
| Downtown Condos 2bed.2ba. 1200 sq.ft. plus (92101) |
187 | 14 | 34 | 2.4 to 1 | 7.5% |
| 2-4 Units San Diego (92101 - 92120) |
394 | 24 | 65 | 2.7 to 1 | 6.1% |
ALL areas improved this month!!! Traditionally December is a slow month for real estate activity. New listings were a lesser amount, which was to be expected. Sales held the same as for November or increased.
Moodys as well as the Anderson Report from UCLA have stated “San Diego probably would be the first area to recover”. We have now had two months of positive news after October 2007 which was the WORST month since I have been doing the Market Watch.
If January 2008 continues with positive data, I would project San Diego is on its way to stability and improvement.
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
