Jeannie Niles Real Estate Investment
 |
San Diego Market Watch: August 2007
| Type | Total Inventory | Pendings | New Listings | New Listings/Sales Ratio | % of Inventory Sold |
|---|---|---|---|---|---|
| Single Family Homes Encinitas West of I-5 (92024) |
47 | 2 | 8 | 4 to 1 | 4% |
| Downtown Condos 2bed.2ba. 1200 sq.ft. plus (92101) |
215 | 13 | 46 | 3.5 to 1 | 6% |
| 2-4 Units San Diego (92101 - 92120) |
574 | 15 | 92 | 6 to 1 | 3% |
Note: New Listings also include any price ranges/modifications to a listing made during the month of August, thus the # of new listings most likely will be overstated. This is the way the MLS reports and I’m unable to calculate this any other meaningful way.
August was the worst month for real estate news in the media that I have encountered. A sharp spike in foreclosure filings, further concerns about sub-prime loans, and chaos in the credit markets. I anxiously await the September 18th meeting of the Federal Reserve.
The number of properties that went into escrow reflects worry about the future of housing. Properties going into escrow declined in all categories, with the greatest drop in the 2-4 unit category.
Inventory increased in all categories, including new inventory. Pendings were almost identical to March with the exception of multi-family.
Inventory increased in all categories, including new inventory. Pendings declined slightly.
Inventory remained the same, sales increased slightly and the rate of new listings coming on the market slowed substantially.
From what I am observing, it appears banks are becoming more aggressive in pricing their foreclosed properties at low prices to generate a more rapid sale.
ALL areas improved this month!!! Traditionally December is a slow month for real estate activity.
Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
