« The Myth of the Angel Investor | Main | Quote of the Day: Commodities Markets »

Latest Stories

• Excel Wankers and Recession Averages
• Sorry, New York is Closed. Check Back Later.
• Catching Falling 2009 Earnings Estimate Knife
• Survivorship Bias in Global Markets
• Talking Positions on a Lazy-ish Retirement Portfolio

April 7, 2008

San Diego Homes Bottoming?

I'm seeing more and more of this sort of thing in existing home sales listings around San Diego. Not sure if it constitutes bottoming in the local market, but it is interesting:

Sales History
Historical home sale price (1): $736,500
Prior sale date: Mar 19, 2008
Change since this sale (1): NA

Historical home sale price (2): $658,750
Prior sale date: Sep 20, 2007
Change since this sale (2): +12%

Historical home sale price (3): $840,000
Prior sale date: Jan 31, 2005
Change since this sale (3): -12%

As you can see, this house sold near the real estate peak in San Diego for $840k, and then the owners abandoned ship a scant two years later for $658,750, taking a whopping 21% drop. A few weeks ago, however, the home changed hands again for $736,500, up 12% from where it had sold back in September of last year.

Sphere It   |   Digg it   |   Bookmark it   |   Stumble it   |   Facebook it