If you need assistance, please call 858-345-9040

Residential Real Estate Market Report Q1 2011

Monday, January 29, 2018   /   by Sean Zanganeh

Residential Real Estate Market Report Q1 2011

This quarterly report is launched in one of the most troubled and fragmented residential real estate markets in over 20 years. In a more traditional market, the sale of non-distressed homes typically dominate the marketplace. Today, things are different, and sales are segmented. To understand the market, a reader must look at five sales sectors: regular sales, new home sales, REO sales, foreclosure sales and short sales. This report examines the “Average Sold Price and Number of Sales” trends for all five sectors of sales, with a focus on the number of sales of single-family residences in San Diego County.

Regular (that is, existing non-distressed) sales are finding some level of stability. The number of regular sales was relatively consistent from the first quarter of 2010 to the first quarter of 2011. Such sales, which made up approximately 50 percent of overall sales in late 2010, were down in the first quarter of 2011 at 45 percent. The weakest point occurred in the first quarter of 2009, when only 31 percent of the market was made up of regular sales. In a strong market, such as the first quarter of 2000 through the third quarter of 2006, regular sales made up approximately 80 percent to 90 percent of the total market.

Market Outlook

Although the peak of the distress in the market occurred in 2009, and regular sales appear to be more stable, the market will continue to be troubled and fragmented by distressed inventory overhang. Government programs and other non-market driven factors have caused market distortions making predictions about the market much more difficult. Notwithstanding, with the national economy slowly improving and the San Diego economy showing signs of stability, we expect lenders to move forward with foreclosures and to shed REO properties throughout the balance of 2011, and possibly into early 2012. Short sales will remain significant for the same period.

Regular Average Sold Price and Number of Sales

For more information visit the USD website

Want more information on San Diego communities

Looking for homes in the San Diego area

My San Diego Dream Home
Sean Zanganeh
12750 High Bluff Dr, Suite 300
San Diego, CA 92130
CA DRE# #01851910

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived are protected by copyright. Compilation © 2023 San Diego MLS.
This site powered by CINC: www.cincpro.com