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San Carlos, San Diego, Real Estate Market Trends and Community Information, August 2006
The community of San Carlos is situated in central San Diego County adjacent to the cities of La Mesa and El Cajon, and within the state of California. There are approximately 24,078 residents in this Zip code (92119) and 9,720 households. The median age of residents is 42.4 years.
The temperature in San Carlos is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 75°F. The coldest time of year occurs in December with average temperatures falling to 57° F.
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 jumped from 0,000 in June 2005 to 3,000 in June 2006, which represents a 2.4% increase. However, fewer homes sold in June 2006 (12 homes) than in June 2005 (16 homes). The average time to sell a home increased from 23 days in June 2005 to 56 days in June 2006. The ratio between the asking price to the sales price remained relatively stable. Sellers obtained 97.4% of their asking price in June 2005, and 96.3% of their asking price in June 2006.
The median price of condominiums and townhomes dropped from 8,000 in June 2005 to 7,500 in June 2006, which represents a 12.3% decline. Fewer units sold in June 2006 (8 homes) than in June 2005 (17 homes). The average time to sell a unit substantially increased from 26 days in June 2005 to 95 days in June 2006. The ratio between the asking price to the sales decreased over the past twelve months. Sellers obtained 98.3% of their asking price in June 2005, and 95.2% of their asking price in June 2006.
The source of the market trends data above is ReReport.com.
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.
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