San Diego Housing Market News and Analysis

How much would you pay to rent one?

Do you want to know if what is fair today, is fair tomorrow, or just today?

Here is a CMA for 92103 for attached 2br units in the last 6 months.

http://tempo5.sandicor.com/Pub/EmailView...

It indicates that the average ppsf is $355 for this subset.

That being said, knocking down that price due to various factors (eg: on a busy street, no view, its dark, older building) is a good way to go. I try to keep the ppsf below 330 for my Hillcrest buyers.

Just sayin.

Thank you for that CMA, that was really helpful. In case you couldn't tell, I'm just in the beginning stages of this whole process but that really helps set parameters for me.

Hey urban, are you urbanrealtor at gmail ?

Yes.

Also, resandiego at aol

If you are in the neighborhood, I am often in my office 1439 University.

However, my office-mates know me as Dan.

Although I do think it would be amusing to see what their reaction would be if you asked for "urban".

Every time I hear the word urban I laugh out loud remembering this clip. I hope it is hilarious to others as it has been to me.

http://www.youtube.com/watch?v=rdAuNJRup9I

Urbanrealtor, can you kindly post the same for just the past 2 months? I am curious to see if the $/sqft has come down from the 6 month avg of $369 (might not be enough data), since prices are changing so quickly. What is your feeling about that? I think 6 months is too far to go back for realistic prices now.

Per your request.

http://tempo5.sandicor.com/Pub/EmailView...

BTW, the 369 is the list price per square foot.

The sale price per square foot is what you should look at.

In this new one, we see the close price drops about 4 % but its also a super small sample set.

Its tough to figure much based on 4 closings.

It would make more sense to check the closing ppsf change based on all of 92103 (or even a better bounded geographic region).

On that note:

Here is all of 92103 closed in the last six months.
http://tempo5.sandicor.com/Pub/EmailView...
It shows a closed ppsf of 376.

Here is all of 92103 closed in the last 2 months.
http://tempo5.sandicor.com/Pub/EmailView...
It shows a closed ppsf of 369.

So a decrease of 1.9%.

And of course that means the difference in the past 2 months vs the last 6 months.

Not the last 2 versus the prior 2 (which would be more illustrative.

But now I want to eat dinner.

Thanks very much for the data! That is what I was afraid of, too few properties to get an accurate measurement of $/sqft. Sales seem to really have fallen dramatically in the nicer areas during the past 2 months, especially in north county coastal.

Interesting 105 homes sold in 6 months (17.5/month) and 18 sold in the most 2 recent months (9/month)...

I expected to see a bigger drop in $/sq ft than 1.9%.

Yes that is a good point about the next 2 previous months. All the scenarios can be run, but just gives me some idea of where prices and sales have been going.

Typically, the end of the month is more concentrated as far as closings.
I suspect you will that number change a bit when calculated in 12 days.

We will see.

Yes I agree, buyers try to close at the end of the month to keep the closing costs/interium interest down.