There’s certainly evidence of price decrease if you check prior purchase prices and the current asking prices of same exact detached homes with same yard size and same floor plans.
for example.
1xxx7 Manassas St, San Diego, CA 92127
Bedrooms: 3
Baths: 2.5
Sq ft: 1,931
prior sales price: $640,000
sale date: 11/2005
1xxx9 Manassas St, San Diego, CA 92127
Bedrooms: 3
Baths: 2.5
Sq ft: 1,931
current asking: $600,000 – $630,000
listing date: 11/05
Price Reduced: 11/30/05 — $649,900 to $615,000
Price Reduced: 04/01/06 — $615,000 to $600,000
same model, same small yard, the one on sale actually has granite countertop, wood flooring. Asking price is $40,000 lower than the one that sold 5 months ago and still no taker. Is the median in North County dropping? I think so.
