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COMMUNITY INFORMATION
The North Park community is situated in central San Diego County within the state of California. There are approximately 47,970 residents in this Zip code (92104) and 21,303 households. The median age of residents is 32.47 years.
TEMPERATURES
The temperature in North Park is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 73°F. The coldest time of year occurs in December with average temperatures falling to 58° F.
HOME AND REAL ESTATE PRICES
The housing options in North Park include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
· One bedroom townhouse/condominium start in the low $200,000s.
· Two bedroom townhouse/condominium start in the high $200,000s.
· Three bedroom townhouse/condominium start in the low $600,000s.
· Two bedroom single-family homes start in the high $300,000s.
· Three bedroom single-family homes start in the high $400,000s.
REAL ESTATE MARKET TRENDS
As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).
The median price of single-family homes dropped from $613,750 in June 2005 to $560,000 in June 2006, which represents an 8.8% decrease. However, more home sold in June 2006 (31 homes) than in June 2005 (16 homes). The average time to sell a home increased from 30 days in June 2005 to 63 days in June 2006.
The median price of condominiums and townhomes dropped from $320,000 in June 2005 to $283,450 in June 2006, which represents an 11.4% decline. Fewer units sold in June 2006 (14 units) than in June 2005 (21 units). Units took longer to sell in June 2006 (69 days) than in June 2005 (45 days).
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.
www.sdhomedatabase.com
www.pacific-beach-homes.com
www.rereport.com/sdccsd/lall/
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