Median Price doesn’t mean Jack! Why don’t they tell you about the :
1) Number of Sales
2) Sales Volume
3) Price per Square Foot
4) Bloated Inventory
Because, that is the real story. Just Realtor spin trying desperately to give some life, to a dying market. Sure, some houses in decent areas that are clean and PRICED RIGHT are selling. Everything else (80%+ of the inventory), is just sitting there, losing value every day.
La Jolla, Coronado and Rancho Santa Fe will be hit the hardest, when all is said and done. Nobody in their right mind, is going to pay big dollars, in this type of market, for overpriced property.
Mark my words : “The pricier they are, the harder they fall”
