Home Sales Down 21% In Central San Diego County (July 2006)

As with other free markets that are based on the forces of supply and demand, the availability and pricing of real estate is subject to these same forces. One measure of the demand of housing is to evaluate the number of homes sold during a particular period, compared against a comparable period.

This article evaluates the number of single-family homes sold in July 2006, compared to the number of homes sold in July 2005. Only communities considered to be within Central San Diego County are covered in this analysis. The data is segmented by communities that had an increase in the number of homes sold, compared to communities that had a decrease in the number of homes sold.

Approximately 345 single-family homes were sold in Central San Diego during July 2006. In contrast, approximately 437 homes were sold in July 2005. This represents a 21.1% decline in the number of homes sold between 2005 and 2006.

Although there was an overall decline in the number of homes sold, not all communities within Central San Diego had lowered sales. In fact, the communities listed below had increases in the number of homes sold.

COMMUNITIES WITH INCREASED HOME SALES

- Logan Heights = 10 homes (July 2006) vs. 3 homes (July 2005)= 233.3% increase
- Point Loma = 13 homes (July 2006) vs. 9 homes (July 2005)= 44.4% increase
- Tierrasanta = 16 homes (July 2006) vs. 12 homes (July 2005) = 33.3% increase
- Ocean Beach = 11 homes (July 2006) vs. 10 homes (July 2005) = 10% increase
- Linda Vista = 13 hones (July 2006) vs. 12 homes (July 2005)= 8.3% increase
- Del Cerro = 21 homes (July 2006) vs. 20 homes (July 2005)= 5% increase

COMMUNITIES WITH LOWER HOME SALES

The communities listed below had decreases in the number of homes sold

- Coronado = 7 homes (July 2006) vs. 14 homes (July 2005) = 50% decrease
- University City = 7 homes (July 2006) vs. 14 homes (July 2005) =50% decrease
- Paradise Hills = 8 homes (July 2006) vs. 16 homes (July 2005)= 50% decrease
- Scripps Ranch = 24 homes (July 2006) vs. 44 homes (July 2005)= 45.5% decrease
- Mission Hills = 8 homes (July 2006) vs. 14 homes (July 2005)= 42.9% decrease
- Normal Heights = 10 homes (July 2006) vs. 17 homes (July 2005) =41.2% decrease
- Mira Mesa = 32 homes (July 2006) vs. 54 homes (July 2005)= 40.7% decrease
- La Jolla = 17 homes (July 2006) vs. 28 homes (July 2005) =39.3% decrease
- College Grove = 25 homes (July 2006) vs. 38 homes (July 2005)= 34.2% decrease
- Sorrento Valley = 2 homes (July 2006) vs. 3 homes (July 2005) = 33.3% decrease
- Old Town = 7 homes (July 2006) vs. 10 homes (July 2005)= 30% decrease
- Golden Hill = 8 homes (July 2006) vs. 11 homes (July 2005)= 27.3% decrease
- City Heights = 17 homes (July 2006) vs. 22 homes (July 2005) = 22.7% decrease
- Mission Valley = 12 homes (July 2006) vs. 15 homes (July 2005)= 20% decrease
- Clairemont = 21 homes (July 2006) vs. 26 homes (July 2005) =19.2% decrease
- North Park = 18 homes (July 2006) vs. 22 homes (July 2005)= 18.2% decrease
- San Carlos = 14 homes (July 2006) vs. 17 homes (July 2005)= 17.6% decrease
- Encanto = 32 homes (July 2006) vs. 34 homes (July 2005)= 5.9% decrease

NO CHANGE IN HOME SALES

The community of Pacific Beach had 16 homes in sales in both July 2005 and July 2006.

CONCLUSION

On balance, more communities demonstrated decreases rather than increases in the number of homes sold. This indicates that in July 2006, there was less demand for single-family homes in Central San Diego County than in July 2005. However, there are communities that demonstrated increases in the number of homes sold. This reminds us that even within a single County, there are differences in housing demand from community to community.

Be sure to consult with an experienced Real Estate agent before buying or selling real estate in San Diego.