Oceanside Real Estate

Apr 12th

Posted by admin in Real Estate

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Oceanside, San Diego
Image by Xaratustra via Flickr

The third-largest city in San Diego County, Oceanside, California, is home to a large population and a robust real estate market. The city has about 180,000 residents. Like much of Southern California, the Oceanside real estate market was plundered by the economic downturn throughout the U.S., causing home prices to fall and foreclosures to rise, among other negative signs.

Over the past year, the Oceanside market has seen sales volume rise, peaking around the beginning of 2009 but remaining strong throughout the end of the year. Home prices steadily fell through most of the year, but the trough appears to have been reached in late summer/early fall, and prices have since began to slowly creep back up.

According to statistics from local realtor Neal Hribar of Keller Williams Realty, in February, the median price for a home in Oceanside was around $325,000, down from one year ago, when it was around $340,000, but up slightly from January and December’s figures, showing signs of a positively sloping upward trend. There were around 135 Oceanside homes for sale sold in February, a steady figure over the past several months and in line with sales figures a year ago.

The condo market shows similar trends, though pricing in the market seems to be slower in coming out of the trough that was reached and maintained throughout most of the summer and fall of 2009. There were about 70 condos sold in Oceanside in February, up slightly from one year ago and stable with the past several months’ activity. The median price for a condo was about $160,000, a steep drop from more than $230,000 in September of 2008 but up slightly from the lows around $150,000 seen over the summer.

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La Jolla Real Estate

Dec 3rd

Posted by admin in Real Estate

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La Jolla Shores Sunset
Image by Lee Sie via Flickr

The La Jolla real estate market, as well as the greater Southern California real estate market in general, has started to recover from the economic recession which peaked several months earlier. According to a November 25, 2009 article in the San Diego Union-Tribune, “San Diego County home prices continued their months-long climb in September but at a slower  pace than during the summer, the closely watched Standard & Poor’s Case-Shiller Home Price Index showed yesterday. Mirroring trends elsewhere, San Diego’s index was up 0.9 percent from August, the slowest month-to-month rise since May. But on a year-over-year basis, the 5.7 percent decline was the smallest in more than two years. Analysts have attributed part of the improved housing market to the federal government’s $8,000 first-time homebuyer tax credit, which was scheduled to end this month. It has been extended to spring and expanded to include some move-up homebuyers.”

La Jolla home sales have also risen along with the rest of the San Diego region and Southern California. According to a November 17, 2009 blog post in the Wall Street Journal by James R. Hagerty, “Home prices in Southern California are showing signs of leveling off, at least for now. Home sales in Southern California rose modestly in October, and prices were above year-earlier levels in two counties, San Diego and Orange, MDA DataQuick reported. Overall in the six-county area, the median sale price declined by the smallest amount in two years, the La Jolla, Calif., data provider said. It cited a ’shrinking inventory of homes for sale and government and industry efforts to stoke demand and curtail foreclosures.’”

The good news for real estate in La Jolla was echoed by a November 20, 2009 article in the Los Angeles Times. The piece, composed by Alejandro Lazo, noted that “California home prices edged higher last month as first-time buyers took advantage of a federal tax credit and foreclosure properties made up a smaller slice of the market, fresh data showed up Thursday. The median price paid for a home statewide was $257,000 in October, up 2.4% from September and down 7.6% from October 2008, according to MDA DataQuick, a real estate research firm based in San Diego.”

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