We've all heard the phrase that "all real estate is local." This phrase is definitely applicable when evaluating the condition of real estate markets; especially in large metropolitan areas where there may be different market conditions even between communities located close to one another.

While there are a variety of methods to appraise to condition of a real estate market, one technique is to compare the median price of properties at two points in time. The median price is the point at which half the properties are above a price point, and half the properties are below a price point.

The information below summarizes the median price of townhomes and condominiums in July 2006 for communities located within Central San Diego County, California. Information is also provided regarding the percent change in the median price since June 2005, which provides one measure of how the market is doing in a particular area. Communities with the largest magnitude of percent change are present first.

The following communities in Central San Diego County had increases in the median price from July 2005 to July 2006. The name of the community is presented first, followed by the median price as of July 2006, and ending with the percent increase since July 2005.

City Heights: $299,000; 27.5% increase
Coronado: $1,372,500; 26.2% increase
Paradise Hills: $405,000; 11.6% increase
La Jolla: $587,950; 9.9% increase
Normal Heights: $309,000; 9.6% increase
College Grove: $297,750; 4.2% increase
Mission Valley: $343,700; 0.4% increase

The following communities in Central San Diego County had decreases in the median price from July 2005 to July 2006. The name of the community is presented first, followed by the median price as of July 2006, and ending with the percent decline since July 2005.

University City: $316,000; -36.5% decrease
Linda Vista: $319,900; -26.3% decrease
Ocean Beach: $342,450; -25.5% decrease
Mission Hills: $392,500; -21.1% decrease
Tierrasanta: $415,000; -16.8% decrease
North Park: $297,500; -15.0% decrease
San Carlos: $292,000; -13.4% decrease
Old Town: $402,000; -10.7% decrease
Scripps Ranch: $437,500; -8.9% decrease
Pacific Beach: $576,000; -8.9% decrease
Downtown: $545,000; -7.5% decrease
Mira Mesa: $319,900; -5.9% decrease
Del Cerro: $351,000; -3.8% decrease
Golden Hill: $337,450; -2.9% decrease
Clairemont: $347,900; -2.3% decrease

The median price is just one measure to evaluate the status of a market. A full evaluation requires the use of multiple metrics (e.g., change is average price, how long homes are staying on the market, sales to list price ratio, etc.) applied over a longer period of time. Moreover, any conclusions you form based on the data above may or may not be supported in subsequent months or by other measures.

Be sure to consult a qualified Realtor before buying or selling real estate in San Diego.

San Diego Real Estate Market Trends Data Source
Pacific Beach Real Estate

Article Source: ArticlesBase.com - Price Shifts For San Diego Townhomes/Condos (July 2006)