The Real Estate Report

Transcription

1 216 Annual Real Estate Report East San Diego County Chuck McGuffie 189 El Cajon Blvd. El Cajon, CA 922 (619) The Real Estate Report & Sales Up in 216 Southern California p 217f for single-family homes, while not quite reaching the highs set in 25, ended the year with modest gains. The median prices for homes gained 5.4% compared to 215. Making it the fifth year in a row of year-over-year gains. The median price for condos/townhomes did reach all-time highs in 216, gaining 8.3%. (See tables on next page for details.) Sales were up marginally in 216. Single-family home sales rose.7% year-over-year. Condo/townhome sales were up.3%. Home sales expected to edge up slightly in 217, while prices post slowest gain in six years Following a dip in home sales in 216, California s housing market will post a nominal increase in 217, as supply shortages and affordability constraints hamper market activity, according to the "217 California Housing Market Forecast," released today by the CALIFORNIA ASSOCIATION OF REALTORS (C.A.R.). The C.A.R. forecast sees a modest increase in existing home sales of 1.4 percent next year to reach 413, units, up slightly from the projected 216 sales figure of 47,3 homes sold. Sales in 216 also will be virtually flat at 47,3 existing, single-family home sales, compared with the 48,8 pace of homes sold in 216. "Next year, California s housing market will be driven by tight housing supplies and the lowest housing affordability in six years," said C.A.R. President Pat "Ziggy" Zicarelli. "The market will experience regional differences, with more affordable areas, such as the Inland Empire and Central Valley, outperforming the urban coastal centers, where high home prices and a limited availability of homes on the market will hamper SFH Resales % Change Median Price ($s) Median Price % Change C.A.R. s 217 California Housing Market Forecast sales. As a result, the Southern California and Central Valley regions will see moderate sales increases, while the San Francisco Bay Area will experience a decline as home buyers migrate to peripheral cities with more affordable options." C.A.R. s forecast projects growth in the U.S. Gross Domestic Product of 2.2 percent in 217, after a projected gain of 1.5 percent in 216. With California s nonfarm job growth at 1.6 percent, down from a projected 2.3 percent in 216, the state s unemployment rate will reach 5.3 percent in 217, compared with 5.5 percent in 216 and 6.2 percent in 216. The average for 3-year, fixed mortgage interest rates will rise only slightly to 4. percent in 217, up from 3.6 percent in 216, but will still remain at historically low levels. The California median home price is forecast to increase 4.3 percent to $525,6 in 217, following a projected 6.2 percent increase in 216 to $53,9, representing the slowest rate of price appreciation in six years. "With the California economy continuing to outperform the nation, the demand for housing will -8.9% 7.2%.4%.7% $435.3 $461.3 $486. $ % 6.% 5.4% 3.2% remain robust even with supply and affordability constraints still very much in evidence. The net result will be California s housing market posting a modest increase in 217," said C.A.R. Vice President and Chief Economist Leslie Appleton- Young. "The underlying fundamentals continue to support overall home sales growth, but headwinds, such as global economic uncertainty and deteriorating housing affordability, will temper stronger sales activity." Chuck McGuffie (619) 41-11

2 216 East San Diego County Annual Real Estate Report San Diego County % Change YOY Year Sales Median Average SP/LP DOI Sales Med Ave 28 2,511 $ 385, $ 59, % ,355 $ 345, $ 436, % % -1.4% -14.3% 21 22,612 $ 37, $ 478, % % 7.2% 9.6% ,142 $ 352,85 $ 464, % % -4.6% -3.1% ,121 $ 37, $ 484, % % 4.9% 4.5% ,963 $ 44, $ 569, % % 18.9% 17.5% ,843 $ 48, $ 621, % % 9.1% 9.% ,396 $ 515, $ 654, % 6 6.5% 7.3% 5.4% ,564 $ 543, $ 689, % 52.7% 5.4% 5.3% 189 El Cajon Blvd. El Cajon, CA 922 (619) San Diego County Homes - & Sales $9 $7 31, 26, 21, $5 16, 11, 6, 1, Median Average Sales 217 rereport.com San Diego County Condos - & Sales $5 $4 12,5 1,5 8,5 6,5 4,5 2,5 5 Median Average Sales 217 rereport.com San Diego County CONDOMINIUMS % Change YOY Year Sales Median Average SP/LP DOI Sales Med Ave 28 8,531 $ 25, $ 321, % ,178 $ 21, $ 261, % % -16.% -18.6% 21 9,95 $ 224,9 $ 274,89 99.% % 7.1% 5.% 211 9,43 $ 21, $ 268, % % -6.6% -2.1% 212 9,111 $ 234,99 $ 293, % 83.8% 11.9% 9.3% 213 9,494 $ 3, $ 36, % % 27.7% 22.7% 214 9,38 $ 33, $ 4, % % 1.% 11.% 215 1,597 $ 35, $ 42, % % 6.1% 5.% 216 1,627 $ 379, $ 448, % 32.3% 8.3% 6.8%

3 216 East San Diego County Annual Real Estate Report East San Diego County % Change YOY Year Sales Median Average SP/LP DOI Sales Med Ave 28 2,95 $ 335, $ 367, % ,511 $ 3, $ 322, % % -1.4% -12.3% 21 3,27 $ 32, $ 343, % % 6.7% 6.7% 211 3,597 $ 3, $ 321, % % -6.3% -6.4% 212 4,42 $ 312,5 $ 333, % % 4.2% 3.8% 213 4,86 $ 368,423 $ 388, % % 17.9% 16.3% 214 3,635 $ 45, $ 429, % % 9.9% 1.5% 215 3,963 $ 435, $ 461, % 49 9.% 7.4% 7.6% 216 4,65 $ 46, $ 49, % % 5.7% 6.3% 189 El Cajon Blvd. El Cajon, CA 922 (619) East San Diego County Homes - & Sales $6 4,5 $5 4, 3,5 $4 3, 2,5 2, 1,5 1, Median Average Sales 217 rereport.com East San Diego County Condos - & Sales 1,2 1,1 $25 1, 9 8 $ Median Average Sales 217 rereport.com East San Diego County CONDOMINIUMS % Change YOY Year Sales Median Average SP/LP DOI Sales Med Ave $ 165, $ 176, % ,146 $ 13, $ 141, % % -21.2% -19.6% 21 1,79 $ 139, $ 154, % % 6.9% 8.9% $ 13, $ 144, % % -6.5% -6.6% $ 142, $ 156, % % 9.2% 8.8% $ 179, $ 195, % % 26.1% 25.% $ 22, $ 23, % 13-2.% 22.9% 17.6% 215 1,11 $ 243,5 $ 252, % % 1.7% 9.7% $ 269, $ 275, % % 1.5% 9.%

4 216 East San Diego County Annual Real Estate Report Alpine 28 $ 482,25 $ 518, % 29 $ 412,25 $ 453, % -14.5% -12.5% 32.8% 21 $ 42, $ 435, % 1.9% -3.9% 1.8% 211 $ 418, $ 419, % -.5% -3.6% 9.8% 212 $ 39, $ 48, % -6.7% -2.6% 5.8% 213 $ 459, $ 484, % 17.7% 18.5% 7.% 214 $ 515, $ 521, % 12.2% 7.8% -15.8% 215 $ 537,5 $ 548, % 4.4% 5.2% 19.3% 216 $ 555, $ 581, % 3.3% 6.% -3.2% 189 El Cajon Blvd. El Cajon, CA 922 (619) Alpine Homes - & Sales $7 $ Median Average Sales 217 rereport.com Alpine Condos - & Sales 25 $25 $ Median Average Sales 217 rereport.com Alpine 28 $ 197, $ 188, % 29 $ 165, $ 17, % -16.2% -9.6% -4.% 21 $ 162, $ 155, % -1.8% -8.5% -8.3% 211 $ 111,5 $ 127, % -31.2% -18.1% 1.% 212 $ 115,75 $ 128, % 3.8%.5% -9.1% 213 $ 168,5 $ 153, % 45.6% 19.6% -3.% 214 $ 213,5 $ 2, % 26.7% 3.5% 14.3% 215 $ 227, $ 216, % 6.3% 8.1% 43.8% 216 $ 258, $ 253, % 13.7% 17.1% -4.3%

5 216 East San Diego County Annual Real Estate Report Descanso 28 $ 185, $ 241, % 29 $ 215, $ 234, % 16.2% -2.7% 54.5% 21 $ 19, $ 211, % -11.6% -9.8% 41.2% 211 $ 222,5 $ 242, % 17.1% 14.5% -4.2% 212 $ 279, $ 262, % 25.4% 8.4% 8.7% 213 $ 25, $ 251, % -1.4% -4.3% 24.% 214 $ 333, $ 371, % 33.2% 47.9% -22.6% 215 $ 377,5 $ 45, % 13.4% 9.%.% 216 $ 423,5 $ 433, % 12.2% 7.%.% 189 El Cajon Blvd. El Cajon, CA 922 (619) Descanso Homes - & Sales $5 $ Median Average Sales 217 rereport.com Jamul Homes - & Sales $7 15 $5 1 5 Median Average Sales 217 rereport.com Jamul 28 $ 55, $ 558, % 29 $ 44, $ 471, % -12.9% -15.7% 3.4% 21 $ 393, $ 466, % -1.7% -1.% 15.1% 211 $ 415, $ 449, % 5.6% -3.6% 6.% 212 $ 42, $ 441, % 1.2% -1.9% 24.7% 213 $ 455, $ 54, % 8.3% 22.6% -28.8% 214 $ 52, $ 551, % 14.3% 2.% -7.6% 215 $ 567, $ 593, % 9.% 7.6% 45.2% 216 $ 565,5 $ 65, % -.3% 9.6% -7.5%

6 216 East San Diego County Annual Real Estate Report El Cajon 28 $ 339,75 $ 382, % 29 $ 317,5 $ 343, % -6.5% -1.2% 19.% 21 $ 324, $ 358, % 2.% 4.5% -8.3% 211 $ 39, $ 341, % -4.6% -4.7% 1.9% 212 $ 315, $ 341, % 1.9% -.1% 18.7% 213 $ 37, $ 41, % 17.5% 17.6%.2% 214 $ 41, $ 441, % 1.8% 1.% -12.2% 215 $ 445, $ 482, % 8.5% 9.4% 8.2% 216 $ 469, $ 5, % 5.4% 3.6% 1.8% 189 El Cajon Blvd. El Cajon, CA 922 (619) El Cajon Homes - & Sales $6 $5 $ Median Average Sales 217 rereport.com El Cajon Condos - & Sales 6 $25 $ Median Average Sales 217 rereport.com El Cajon 28 $ 155, $ 164, % 29 $ 115, $ 127, % -25.8% -22.2% 25.3% 21 $ 124, $ 138, % 7.8% 8.8% -9.7% 211 $ 115, $ 128, % -7.3% -7.7% -12.5% 212 $ 134, $ 146, % 16.5% 14.3% -21.2% 213 $ 17, $ 182, % 26.9% 24.4% 6.5% 214 $ 21, $ 213, % 23.5% 17.1% 2.4% 215 $ 229, $ 235, % 9.% 1.5% -4.5% 216 $ 25, $ 259, % 9.2% 1.3% 1.6%

7 216 East San Diego County Annual Real Estate Report La Mesa 28 $ 395, $ 433, % 29 $ 35, $ 383, % -11.4% -11.6% 12.4% 21 $ 36, $ 397, % 2.9% 3.6% 2.2% 211 $ 34, $ 354, % -5.6% -1.8% 18.8% 212 $ 359,5 $ 39, % 5.7% 1.1% 24.7% 213 $ 425, $ 442, % 18.2% 13.4% -3.6% 214 $ 45, $ 484, % 5.9% 9.4% -9.7% 215 $ 476, $ 51, % 5.8% 3.5% 8.5% 216 $ 58, $ 536, % 6.7% 6.8% 6.% 189 El Cajon Blvd. El Cajon, CA 922 (619) La Mesa Homes - & Sales $6 8 $5 $ Median Average Sales 217 rereport.com La Mesa Condos - & Sales $ $ Median Average Sales 217 rereport.com La Mesa 28 $ 23, $ 233, % 29 $ 185, $ 188, % -19.6% -19.1% 34.4% 21 $ 179, $ 187, % -3.2% -.8% 35.2% 211 $ 165, $ 165, % -7.8% -11.8% -13.% 212 $ 165,25 $ 187, %.2% 13.5% 15.6% 213 $ 223, $ 223, % 34.9% 19.% -17.1% 214 $ 24, $ 241, % 7.6% 8.1% -2.8% 215 $ 251,1 $ 258, % 4.6% 7.2% 28.5% 216 $ 28, $ 282, % 11.5% 9.3% -6.8%

8 216 East San Diego County Annual Real Estate Report Lakeside 28 $ 35, $ 349, % 29 $ 3, $ 34, % -14.3% -12.9% 1.5% 21 $ 318,85 $ 314, % 6.3% 3.4% 7.% 211 $ 295, $ 29, % -7.5% -7.6% 11.8% 212 $ 315, $ 38, % 6.8% 6.2% 4.3% 213 $ 365, $ 36, % 15.9% 17.% 15.1% 214 $ 415, $ 431, % 13.7% 19.5% -21.6% 215 $ 437,5 $ 437, % 5.4% 1.4% 14.5% 216 $ 458, $ 463, % 4.7% 5.9% 8.9% 189 El Cajon Blvd. El Cajon, CA 922 (619) Lakeside Homes - & Sales $5 5 $ Median Average Sales 217 rereport.com Lakeside Condos - & Sales $25 15 $15 $5 $- 1 5 Median Average Sales 217 rereport.com Lakeside 28 $ 115, $ 125, % 29 $ 98, $ 15, % -14.8% -16.2% 34.9% 21 $ 1, $ 15, % 2.%.3% 21.2% 211 $ 94, $ 11, % -6.% -3.7% -4.8% 212 $ 91, $ 97, % -3.2% -3.8% -3.3% 213 $ 125, $ 13, % 37.4% 33.% -22.% 214 $ 156, $ 179, % 24.8% 37.9% 15.2% 215 $ 185, $ 224, % 18.6% 24.7% 67.9% 216 $ 26, $ 219, % 11.4% -2.2% -9.%

9 216 East San Diego County Annual Real Estate Report Lemon Grove 28 $ 271,45 $ 277, % 29 $ 239, $ 235, % -12.% -15.1% 36.4% 21 $ 26, $ 255, % 8.8% 8.3% -2.6% 211 $ 244, $ 233, % -6.2% -8.6% -7.2% 212 $ 253, $ 253, % 3.7% 8.4% 19.3% 213 $ 35, $ 299, % 2.6% 18.5% 12.1% 214 $ 345, $ 34, % 13.1% 13.6% -21.3% 215 $ 377, $ 37, % 9.3% 8.8% 13.3% 216 $ 41, $ 45, % 8.8% 9.3% 2.% 189 El Cajon Blvd. El Cajon, CA 922 (619) Lemon Grove Homes - & Sales $5 3 $4 2 1 Median Average Sales 217 rereport.com Lemon Grove Condos - & Sales $25 6 $15 $5 $- 4 2 Median Average Sales 217 rereport.com Lemon Grove 28 $ 167, $ 161, % 29 $ 12, $ 1, % -38.9% -37.5% 38.9% 21 $ 11, $ 12, % -1.% 2.1% -4.% 211 $ 11, $ 19, % 8.9% 6.1% 13.3% 212 $ 111,5 $ 19, % 1.4%.1% -58.8% 213 $ 115, $ 131, % 3.1% 2.6% -21.4% 214 $ 195, $ 195, % 69.6% 48.% 18.2% 215 $ 22, $ 216, % 12.8% 11.% 61.5% 216 $ 234, $ 226, % 6.4% 4.8% -38.1%

10 216 East San Diego County Annual Real Estate Report Mount Laguna 28 $ 185, $ 179, % 29 $ 122,5 $ 119, % -33.8% -33.3% 4.% 21 $ 96,3 $ 11, % -21.4% -8.1% -14.3% 211 $ 65, $ 65, % -32.5% -41.% -83.3% 212 $ 12, $ 131, % 84.6% 11.7% 8.% 213 $ 11, $ 11, % -8.3% -22.3% -33.3% 214 $ 123,5 $ 128, % 12.3% 25.9%.% 215 $ 75, $ 75, % -39.3% -41.5% -66.7% 216 $ 275, $ 268, % 266.7% 258.% 1.% 189 El Cajon Blvd. El Cajon, CA 922 (619) Mount Laguna Homes - & Sales $- 4 2 Median Average Sales 217 rereport.com Pine Valley Homes - & Sales $5 5 $ Median Average Sales 217 rereport.com Pine Valley 28 $ 295, $ 317, % 29 $ 282,5 $ 286, % -4.2% -9.5% -35.7% 21 $ 245, $ 252, % -13.3% -12.% 5.% 211 $ 257, $ 26, % 4.9% 3.%.% 212 $ 25, $ 318, % -2.7% 22.5% -25.9% 213 $ 323, $ 314, % 29.2% -1.4% 75.% 214 $ 31, $ 316, % -4.%.8% -5.7% 215 $ 4, $ 382, % 29.% 2.8% -24.2% 216 $ 424,45 $ 44, % 6.1% 5.7% 6.%

11 216 East San Diego County Annual Real Estate Report Santee 28 $ 345, $ 36, % 29 $ 317,5 $ 326, % -8.% -9.4% 4.3% 21 $ 335, $ 339, % 5.5% 3.9% -.5% 211 $ 35, $ 36, % -9.% -9.7% 2.1% 212 $ 39, $ 37, % 1.3%.5% -.6% 213 $ 369, $ 366, % 19.4% 18.9% 2.5% 214 $ 45,86 $ 43, % 1.% 1.1% -2.4% 215 $ 435, $ 436, % 7.2% 8.3% 2.9% 216 $ 459, $ 47, % 5.5% 7.7% 9.6% 189 El Cajon Blvd. El Cajon, CA 922 (619) Santee Homes - & Sales $5 6 $4 Median Average Sales 4 2 Santee Condos - & Sales $35 $25 $15 Median Average Sales Santee 28 $ 21, $ 212, % 29 $ 179, $ 188, % -1.9% -11.1% 29.6% 21 $ 192,5 $ 198, % 7.5% 5.2% -7.6% 211 $ 18, $ 185, % -6.5% -6.3% 8.8% 212 $ 178, $ 189, % -1.1% 2.% -13.6% 213 $ 228,2 $ 241, % 28.2% 27.2% 15.2% 214 $ 272,5 $ 278, % 19.4% 15.3% 5.1% 215 $ 283,25 $ 292, % 3.9% 5.2% 27.5% 216 $ 32, $ 327, % 13.% 11.9% -11.%

12 216 East San Diego County Annual Real Estate Report Spring Valley 28 $ 28, $ 289, % 29 $ 24, $ 247, % -14.3% -14.7% 31.6% 21 $ 279, $ 278, % 16.3% 12.6% -26.2% 211 $ 264, $ 266, % -5.4% -4.1% 12.2% 212 $ 275, $ 277, % 4.2% 4.% 2.2% 213 $ 32, $ 322, % 16.4% 16.3% -1.1% 214 $ 355, $ 357, % 1.9% 1.6% -5.% 215 $ 39, $ 393, % 9.9% 1.2% 4.3% 216 $ 42, $ 428, % 7.7% 9.1% -4.9% 189 El Cajon Blvd. El Cajon, CA 922 (619) Spring Valley Homes - & Sales $5 1 $4 Median Average Sales Spring Valley Condos - & Sales $ $15 Median Average Sales 1 5 Spring Valley 28 $ 156, $ 158, % 29 $ 12, $ 123, % -23.1% -22.1% 36.1% 21 $ 14, $ 153, % 16.7% 24.4% -24.9% 211 $ 132,5 $ 134, % -5.4% -12.% -22.1% 212 $ 117, $ 127, % -11.7% -5.7% -4.7% 213 $ 165, $ 165, % 41.% 29.8% 27.7% 214 $ 25, $ 27, % 24.2% 25.7% -32.6% 215 $ 23, $ 237, % 12.2% 14.2% 33.3% 216 $ 258,3 $ 255, % 12.3% 7.7% 1.3%

13 216 East San Diego County Annual Real Estate Report Warner Springs 28 $ 212,5 $ 29, % 29 $ 18, $ 222, % -15.3% -23.4% -41.7% 21 $ 2,5 $ 197, % 11.4% -11.2% 71.4% 211 $ 143,5 $ 186, % -28.4% -5.5% 8.3% 212 $ 232,5 $ 222, % 62.% 19.1% -38.5% 213 $ 176,7 $ 196, % -24.% -11.3% 5.% 214 $ 255, $ 271, % 44.3% 37.9% 16.7% 215 $ 312,5 $ 315, % 22.5% 16.1% -7.1% 216 $ 332,5 $ 339, % 6.4% 7.5% 38.5% 189 El Cajon Blvd. El Cajon, CA 922 (619) Warner Springs Homes - & Sales $4 Median Average Sales This Real Estate Report is published and copyrighted by Information contained herein is deemed accurate and correct, but no warranty is implied or given.