Home Prices In North County Reach Record High
06-13-2007 3:25 AM
(San Marcos, CA) — The median price of a single-family home in North County reached a record high of 655-thousand-dollars last month. The previous record was set in June of last year, when it reached 650-thousand-dollars. Sellers sold 13-percent fewer properties than last year and 32-percent less than in May of 2005.
Couldn’t that be due to the lower end of the market drying up, meaning that more expensive houses sold than the less expernsive ones? Skewing the median higher…I think the problems with the median as a meaningful indicator have been talked about many times on the homepage and these boards. I guess you would need to analyse the data house by house to know whether this was the case here.
Couldn’t that be due to the lower end of the market drying up, meaning that more expensive houses sold than the less expernsive ones? Skewing the median higher…I think the problems with the median as a meaningful indicator have been talked about many times on the homepage and these boards. I guess you would need to analyse the data house by house to know whether this was the case here.
Eccen it is not worth fretting over. Note the last line. 13% fewer properties this year and 32% less then May 05. That means that as the total number of property sales goes down, the median becomes even less meaningful as it is prone to be pulled in different directions due to the smaller sample size.
Essentially median information is not worthwhile to get all bound over right now. Focus on the sales volume.
Eccen it is not worth fretting over. Note the last line. 13% fewer properties this year and 32% less then May 05. That means that as the total number of property sales goes down, the median becomes even less meaningful as it is prone to be pulled in different directions due to the smaller sample size.
Essentially median information is not worthwhile to get all bound over right now. Focus on the sales volume.
I would say know your target house or types of properties you are interested and disengage from the media. Get an understanding of properties and their ammenities and compare over time. Check them every six months or so to see where prices/affordability are going until something pencils out for the parameters you set, longer if the market can exceed your parameters on the downside and you can still wait.Buy after SD Realtor buys, maybe much later.
I would say know your target house or types of properties you are interested and disengage from the media. Get an understanding of properties and their ammenities and compare over time. Check them every six months or so to see where prices/affordability are going until something pencils out for the parameters you set, longer if the market can exceed your parameters on the downside and you can still wait.Buy after SD Realtor buys, maybe much later.
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