The best choice of your home living

Posts Tagged ‘2006’

The community of Clairemont (sometimes called Clairemont Mesa) is located in central San Diego County, California. The community is located off Interstate 5 at Balboa Ave and is within the 92117 Zip code.

The real estate and homes for sale in Clairemont fall into the moderate-income category for San Diego County. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 183 single-family homes sold. Approximately 226 homes sold for the same period in 2005.

One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.

The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.

The median price of homes in July 2006 was $560,000, compared to $562,500 in July 2005, which represents a 0. 9% drop. The average price of homes in July 2006 was $575,114, compared to $585,602 in July 2005, which represents a 2. 4% drop. Approximately 21 homes sold in July 2006 and 26 in July 2005. The data provides evidence that there was a downward price trend in July 2006 compared to the same period last year.

The median price of homes in June 2006 was $555,000, compared to $570,000 in June 2005, which represents a 2. 6% drop. The average price of homes in June 2006 was $586,758, compared to $584,415 in June 2005, which represents a 0. 4% increase. Approximately 30 homes sold in June 2006 and 34 in June 2005. The data for June 2006 was mixed, as median prices declined and average prices rose slightly from the same period last year.

The median price of homes in May 2006 was $550,000, compared to $562,000 in May 2005, which represents a 2. 3% drop. The average price of homes in May 2006 was $584,012, compared to $582,000 in May 2005, which represents a 0. 3% increase. Approximately 33 homes sold in May 2006 and 37 in May 2005. The data was mixed in June 2006, as median prices declined and average prices rose slightly from the same period last year.

The median price of homes in April 2006 was $564,000, compared to $565,000 in April 2005, which represents a 0. 20% drop. The average price of homes in April 2006 was $584,722, compared to $612,897 in April 2005, which represents a 4. 6% drop. Approximately 32 homes sold in April 2006 and 36 in April 2005. The data provides evidence that there was a downward price trend in April 2006 compared to the same period last year.

The median price of homes in March 2006 was $558,000, compared to $545,000 in March 2005, which represents a 1. 5% increase. The average price of homes in March 2006 was $589,161, compared to $576,227 in March 2005, which represents a 3. 60% increase. Approximately 29 homes sold in March 2006 and 39 in March 2005. The data provides evidence that there was an upward price trend in March 2006 compared to the same period last year.

The median price of homes in February 2006 was $560,000, compared to $525,000 in February 2005, which represents a 7. 4% increase. The average price of homes in February 2006 was $582,435, compared to $571,708 in February 2005, which represents a 2. 50% increase. Approximately 17 home sold in February 2006 and 29 in February 2005. The data provides evidence that there was an upward price trend in February 2006 compared to the same period last year.

The median price of homes was $585,000 in January 2006, compared to $525,000 in January 2005, which represents a 10% increase. The average price of homes in January 2006 was $634,524, compared to $542,708 in January 2005, which represents a 16. 9% increase. Approximately 21 homes sold in January 2006 and 25 in January 2005. The data provides evidence that there was an upward price trend in January 2006 compared to the same period last year.

So what does the above data tell us? Overall, there was a 19% decline in the number of homes sold during this period from 2006 to 2005. The pricing trends early in the year (January, February and March) were in the upward direction for both median and average prices, which showed increases year-over-year ranging from 1. 5% to 16. 9%. However, since then, the pricing trend has been downward or mixed depending on the month. For example, April and July demonstrated downward median and average prices ranging from around half a percent up to 5%. For May and June, the median price was down around 2% from the previous year, and the average price was slightly up around half a percent. These findings suggest that at best, prices have leveled off, and at worst, are starting to decline. Continued monitoring of sale data in subsequent months is needed to identify enduring market trends.

Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Clairemont.

The price of housing is a major challenge in the United States. Some estimates note that more than 50% of the population cannot afford a median priced home. According to National Association of Home Builders (NAHB), of the total number of new and existing homes sold nationwide during the third quarter, only 40. 4 percent were affordable for families earning the median U. S. income of $59,600.

But it is good news that housing affordability on the national level has not changed much in the third quarter in spite of a rise in the mortgage interest rates during the last quarter. This was because many markets saw a slight decrease in their home prices, which helped offset the rise in mortgage rates.

Indianapolis (Indiana) is the most affordable city for homes in America, based on the 2006 third quarter report of the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). The city achieved this status for the fifth consecutive quarter.

Of the total number of housing units sold in Indianapolis during the third quarter, 86 percent of homes were priced at or below the U. S. median household income of $65,100. Homes in this metro area had a median sales price of $122,000, which is slightly higher from $120,000 of the previous quarter.

It is interesting to note that the most affordable U. S. cities for homes, condos and other real estate are largely from the northern industrial metro areas. The other larger cities that top the list for affordable homes in the third quarter after Indianapolis are Youngstown-Warren-Boardman (Ohio-Pennsylvania); Detroit-Livonia-Dearborn (Michigan); Buffalo-Niagara Falls (New York); and Grand Rapids and Wyoming (Michigan).

The report also lists the top seven smaller cities in America that have the most affordable housing markets. These are: Bay City in Michigan, Springfield in Ohio, Mansfield in Ohio, Lansing-East Lansing in Michigan, Lima in Ohio, Battle Creek in Michigan and Canton-Massillon in Ohio.

For both major metros and small metros, many of the least affordable cities are located in California. The least affordable major metro areas are Santa Ana-Anaheim-Irvine, Modesto, Stockton, and San Diego-Carlsbad-San Marcos, in that order. The least affordable smaller metros (less than 500,000 people) include: Salinas, Merced, Madera, Napa, and Santa Barbara-Santa Maria.

The good news for homebuyers is that there are many affordable cities in the United States. Moreover, even for cities that rated poorly for affordability, there may be some communities within the larger city that have affordable housing. For example, although the San Diego metro in California rated poorly overall for affordability, there are some communities in San Diego priced to meet the needs of lower-income home buyers. A good real estate agent can help you choose a community where you want to live based on your housing budget and needs.

COMMUNITY INFORMATION

Alpine is a community situated in the eastern region of San Diego County within the state of California. There are approximately 19,227 residents in this Zip code (91901) and 6,597 households. The median age of residents is 38. 92 years.

TEMPERATURE

The temperature in Alpine is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 76°F. The coldest time of year occurs in January with average temperatures falling to 54°F.

HOME AND REAL ESTATE PRICES

The housing options in Alpine include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse/condominium start in the low $200,000s.

·Two bedroom townhouse/condominium start in the low $200,000s.

·Three bedroom townhouse/condominium start in the mid $300,000s.

·Two bedroom single-family homes start in the mid $300,000s.

·Three bedroom single-family homes start in the mid $400,000s.

·Four bedroom single-family homes start in the high $500,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes in June 2006 was $597,500, which represents a 10. 2% decline from the previous year. The number of homes sold in June 2006 was 17, which was down 37% from the previous year.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.

COMMUNITY INFORMATION

Chula Vista is situated in the southern region of San Diego County within the state of California. There are approximately 194,939 residents in this community and 62,394 households. The median age of residents is 32. 89 years.

TEMPERATURE

The temperature in Chula Vista is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 72°F. The coldest time of year occurs in December with average temperatures falling to 57°F.

HOME AND REAL ESTATE PRICES

The housing options in Chula Vista include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:

·One bedroom townhouse/condominium start in the high $100,000s.

·Two bedroom townhouse/condominium start in the high $200,000s.

·Three bedroom townhouse/condominium start in the mid $300,000s.

·Two bedroom single-family homes start in the high $300,000s.

·Three bedroom single-family homes start in the low $400,000s.

·Four bedroom single-family homes start in the high$400,000s.

REAL ESTATE MARKET TRENDS

As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).

The median price of single-family homes dropped from $610,000 in June 2005 to $595,000 in June 2006, which represents a 2. 5% decline. Fewer more homes sold in June 2006 (127 homes) than in June 2005 (171 homes). The average time to sell a home increased from 47 days in June 2005 to 66 days in June 2006.

The median price of condominiums and townhomes decreased slightly from $382,250 in June 2005 to $382,000 in June 2006, which represents a . 1% decline. Fewer units sold in June 2006 (46 units) than in June 2005 (80 units). The average time to sell a unit increased from 52 days in June 2005 to 85 days in June 2006.

Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.