1 – There are very few realty agents whom we allow to be quoted here. I’m pretty sure this individual isn’t one of them.
2 – Santee = Poway ??? (see above)
3 – There are 147 active listings for SFRs right now. There have been an average of 17.33 sales/month over the first 3 months of this year. That means we have 8.5 months worth of standing inventory.
4 – Foreclosure.com currently lists 104 foreclosures and 241 NODs for Santee. That number probably isn’t extremely accurate, but when you compare it to the rate of sales it should give you an idea of what’s coming down the pike over the next few months.
5 – Median price for the closed sales this last quarter was $401,383, which is now only 5.12 x the average annual household income in town ($78,250). By contrast, the median price in 1999 ($191,499) was only 3.6 times the then-median household income level of $53,624. To do that in the here and now, the current medians would have to drop to $281,700.
