San Diego Real Estate Trends

I was recently introduced to another way of looking at the market statistics, sometimes referred to as “Market Velocity.” What this system does is take a look at the relationship between the total number of active listings and the number of pending sales during the last 30 days. Next, it calculates using these numbers and the current market conditions to determine how long it would take to sell off the existing inventory of homes.

I used only the SFR (Single Family Detached Homes) and created a graph (See attached) showing the data for San Diego County . If you check the graph you can see how much the

estimated sale time has changed since January. The current number of days reflect a total of 290 days. This figure has fluctuated from a low of 188 days in March to the current high for 2007 of 290 days in August.

When looking at our local market, I discovered, as usual, that we are in somewhat better shape then the rest of the county as a whole. Poway ’s market velocity is 139 days based on 199 active listings and the 43 pending sales for August. RB 92127’s total days are currently much higher then Poway ’s with a 187 total which also happens to be the highest total in our local marketplace. Even so, this is still much lower then the county’s total of 290 days of inventory.

Based on 208 active listings and 42 pending sales, RB 92128 reports in at 149 days. Rancho Penasquitos has the lowest total of the I-15 communities with a score of 114 days. This is lower because PQ has fewer active listings (110) and yet has 29 sold pending in August.

The bottom line is really quite simple, and reflects what I said last month about National and County statistics. They do not always reflect what is happening in our own back yard. For that matter there is even a significant difference between RB 92127 and PQ 92129 making it imperative to utilize a local Realtor who knows your neighborhood. You will be glad you did if you are planning to buy or sell a home.
 

Source: Sandicor, MLS, and Dataquick