The North Park region is located in central San Diego County, California. The community is located between Interstate 805 and Highway 163, and is just north of Downtown San Diego.
The real estate and homes for sale in North Park fall into the moderate to upper-income category. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 144 single-family homes were sold. Approximately 134 homes were sold for the same period in 2005.
One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005.
The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold.
The median price of homes in July 2006 was $555,000, compared to $552,500 in July 2005, which represents a 0.50% increase. The average price of homes in July 2006 was $539,472, compared to $655,551 in July 2005, which represents a 17.6% drop. Approximately 18 homes sold in July 2006 and 22 in July 2005. The data was mixed for July 2006, as the median price increased slightly, and the averaged price decreased from the same time last year.
The median price of homes in June 2006 was $560,000, compared to $613,750 in June 2005, which represents a 9.7% drop. The average price of homes in June 2006 was $601,601, compared to $606,000 in June 2005, which represents a 2.2% drop. Approximately 31 homes sold in June 2006 and 16 in June 2005. In summary, there was a downward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $612,000, compared to $650,100 in May 2005, which represents a 5.9% drop. The average price of homes in May 2006 was $627,892, compared to $654,535 in May 2005, which represents a 4.6% drop. Approximately 25 homes sold in May 2006 and 17 in May 2005. In summary, there was a downward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $606,000, compared to $572,500 in April 2005, which represents a 5.9% increase. The average price of homes in April 2006 was $601,905, compared to $563,945 in April 2005, which represents a 6.7% increase. Approximately 21 homes sold in April 2006 and 20 in April 2005. In summary, there was an upward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $589,000, compared to $560,000 in March 2005, which represents a 5.2% increase. The average price of homes in March 2006 was $601,689, compared to $569,506 in March 2005, which represents a 5.7% increase. Approximately 19 homes sold in March 2006 and 27 in March 2005. In summary, there was an upward price trend in March 2006 compared to the same period last year.
The median price of homes in February 2006 was $604,000, compared to $515,000 in February 2005, which represents a 17.3% increase. The average price of homes in February 2006 was $608,308, compared to $545,750 in February 2005, which represents a 12.1% increase. Approximately 13 homes sold in February 2006 and 18 in February 2005. In summary, there was an upward price trend in February 2006 compared to the same period last year.
The median price of homes was $589,000 in January 2006, compared to $455,000 in January 2005, which represents a 28% increase. The average price of homes in January 2006 was $579,265, compared to $514,786 in January 2005, which represents a 10.7% increase. Approximately 17 homes sold in January 2006 and 14 in January 2005. In summary, there was an upward price trend in January 2006 compared to the same period last year.
So what does the above data tell us? Overall, there was 7.5% increase in the number of homes sold from 2005 to 2006. Besides that, the data did not reveal any clear patterns. For the early part of the year (January, February, March and April 2006), there was an upward price trend (range 5.2% to 28%) from the same period last year. In contrast, May and June 2006 had a downward price trend in median and average prices (range 2.2% to 9.7%). The data was mixed for July 2006, as the average price decreased (-17.6%) and the median price increased slightly (0.50%). A longer period of evaluation is needed to determine if enduring price patterns emerge.
Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in North Park, San Diego.
San Diego Real Estate
Market Trends Data Source
Pacific Beach Real Estate
|
|
