Here’s my own observation in my area, Mira Mesa, 92126: I generally keep an eye on single family homes that’s less than 10 years old. Which means, most of them are around the Compass Point dr. area, on the east end of Mira Mesa by the 15. About a year ago, I know someone who bought a 1480sq-ft house in that area for $565k. That was the average going price for that size around that time. The smaller houses which is in the 1300sq-ft range were listing and selling for $540-550k range. The last 6 months, I’ve seen prices of those 1300sq-ft houses drift down to $480k and most of them are not selling. This past week, another 1300sq-ft house listed for $460k-$475k, then 2 days later, dropped to $450k-$465k. It’s still not sold. So I’m not sure what’s the going rate for those houses in that area is right now, but it seems like it has to be less than $450k.
