[quote=jpinpb]AN – I don’t think comparing homes in MM to 92103 is comparing apples to apples. The PPSF in 92103 is still high and that listing on Bush is below the median/average – which IMO is still high, but it is what it is for the high end – for now. Maybe these listings are canaries. Ever so slowly rip the bandaid off, trying to not feel the pain and maybe no one will notice the gradual price declines slowly infiltrating the high end.[/quote]
They might not be apple to apple in your eyes, but to the eyes of the buyers in those areas, they both worth about the same in 1986. That’s what I’m trying to say. Did 92103 become more desirable since 1986 vs 92126? I’m trying to say I understand your frustration and I don’t think those houses 92103 are worth what they’re selling for now, even with a massive price drop from the peak. They’re still way above its 1986 price.

BTW, I hardly consider houses that’s sold for low to mid $100k in 1986 as high end. Just because it peak higher doesn’t make it high end. There are many $1M homes in Chula Vista at the peak that are now selling around $500k. Do you consider those as high end homes as well?