Good question, stockstradr. The properties in this complex were converted in mid 2005 and first sold in September, no individual sales history before Sept 2005. I fully agree with you the condos peaked earlier than the SFH’s, the same should be the bottom. Hope the trending on condors could tell us some hints – more or less, on SFHs in near future.
SD Realtor, yes, I would like to gather more recent sales data . The new sales might not affects the median number much, but they could change the trending curve which is more critical. Unfortunately the county records which I mostly rely on always posts some delays.
The complex is in Carmel Valley, 2 bedrooms, 2-1/2 bath with 2 attached garages. Looking at the trend chart the prices are bouncing back to their median level(~130 data samples), does it mean the “correction” was over or just a new cycle to start with?
As a newcomer, I wish the SHF price be dropping to y2001~02 level, but the reality seems telling me we are not getting close to, not even 15% off the peak yet for SFH in CV area…
If I were in wantobuy’s position, I would wait for another 4~6 months and buy a condo – unless the price for detached home is falling fast.
Agree with SDR, it’s very ture “the depreciation on the condo may exceed the detached home percentage wise”.
Monitoring a couple of townhome developmets in Carmel Valley area, I don’t know how to explain the fact that reaching a bottom early this year, the list price is now bouncing back even higher than the same period of last year.
My question is, hasn’t the deep depreciation on condo already exceeded the detached home, which made the price of condo more closer to where it should be (than the detached home)?
