San Diego Coastal Real Estate Resource

Point Loma Market Snapshot 92106 for June 2009

by Jeffrey on June 30, 2009

in Breaking News, Point Loma, Statistics

Another favorite market in San Diego is Point Loma, which is in the 92106 zip code. We have just finished looking at the upper priced markets in Rancho Santa Fe and Coronado, so today let’s take a look at Point Loma.

You can download the latest Point Loma market statistics report – Point Loma Market Update June 2009 (large PDF), or you can sign up to have the report delivered to your e-mail here. If you are concerned about giving out your e-mail please visit my privacy page.

Let’s start by taking a look at the active inventory in Point Loma – 92106. We are going to look at both single family detached and attached units. Weekly updated graphs and pictures can be found at JeffreyDouglass.com.

Median prices for Point Loma in both Attached and Detached have not adjusted sharply as many markets.

The SAN DIEGO 92106 is strongly in the Buyer’s Market zone. The 90-day Market Action Index stands at 17. With several months of inventory available at the current sales rate, buyers should find ample choice.

Search for active homes in Point Loma by clicking below on the map:

Now that we have an idea of active inventory, let’s look at sales for year to date, and then past sales for 2007 and 2008. The data source for these numbers comes from Sandicor Multiple Listing System which is a regional MLS for San Diego County. Time period would be from January 1st through June 15th, 2009.

41 Detached Homes Sold & 17 Attached Sold
Average Sales Price $866,301 Detached and $585,235 Attached
Lowest priced $358,500 Detached and $140,000 Attached
Highest price $2,000,000 Detached and $1,425,000 Attached
Average from List Price to Sold Price on both Attached and Detached – 96%
Average days on the market 76 Detached and 64 Attached

Looking back to 2008 for the full year from January 1st through December 31st.

112 Detached Homes and 46 Attached Homes sold
Average Sales Price $1,007,996 Detached and $538,684 Attached
Lowest Sold Price $350,000 Detached and $197,000 Attached
Highest Sold Price $3,375,000 Detached and $1,425,000 Attached
Average from List Price to Sold Price 95% Detached and 96% Attached
Average days on the market 63 Attached and 73 Detached

In 2007, which is the top of the market, the following:

152 Detached Homes and 51 Attached Sold
Average Sales Price $1,057,170 Detached and $519,812 Attached
Lowest Price Sold $491,000 Detached and $205,800 Attached
Highest Price Sold $3,275,000 Detached and $1,275,000 Attached
Average from List Price to Sold Price 95% Detached and 96% Attached
Average days on the market 68 days Detached and 72 days Attached

Going over to Foreclosure Radar there are 19 properties scheduled for auction, 4 Bank Owned, and 42 in pre-foreclosure. Note that those properties may be sold on a “Short Sale” or redeemed by the owner before a sale date.

Back in January I wrote a blog post regarding market predictions. Pardon for quoting myself….

I have been reading a lot of posts on predictions for the 2009 real estate market in San Diego. As usual, there are many opinions out there, some of them are optimistic, some funny, some neutral, and some just doom and gloom. Everyone appears to be an expert with their own spin and logic to what clearly has been a huge reset of our markets.

The truth of the matter is no one really knows when the bottom will hit (or has hit) in San Diego. If they have this ability to see so clearly into the future, then I would suggest they might want to spend their time buying Lotto tickets – the payoff would be much better. Market bottoms can be clearly identified months after they have occurred by the reviewing of sales data and median prices by real estate experts.

All markets have opportunity depending on your circumstances. I would caution anyone looking to jump into the real estate market today to educate them self and buy the best of the market. Using the principle of substition, working with a qualified REALTOR®, and taking your time is your best bet for making a great investment you will be proud of years from now.

Share and Enjoy: