The community of Clairemont (sometimes called Clairemont Mesa) is located in central San Diego County, California. The community is located off Interstate 5 at Balboa Ave and is within the 92117 Zip code. The real estate and homes for sale in Clairemont fall into the moderate-income category for San Diego County. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 183 single-family homes sold. Approximately 226 homes sold for the same period in 2005. One method to analyze pricing trends for a particular community is to evaluate the median and average price of homes for a particular month, and compare that data against the same period last year. What follows is a comparison of the median price and average price of homes for the past seven months (January through July 2006), compared against the data for the corresponding time period in 2005. The median price of homes represents the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The average price of homes is calculated by adding up the sales price of all homes sold in a particular month, and dividing that value by the number of homes sold. The median price of homes in July 2006 was $560,000, compared to $562,500 in July 2005, which represents a 0.9% drop. The average price of homes in July 2006 was $575,114, compared to $585,602 in July 2005, which represents a 2.4% drop. Approximately 21 homes sold in July 2006 and 26 in July 2005. The data provides evidence that there was a downward price trend in July 2006 compared to the same period last year. The median price of homes in June 2006 was $555,000, compared to $570,000 in June 2005, which represents a 2.6% drop. The average price of homes in June 2006 was $586,758, compared to $584,415 in June 2005, which represents a 0.4% increase. Approximately 30 homes sold in June 2006 and 34 in June 2005. The data for June 2006 was mixed, as median prices declined and average prices rose slightly from the same period last year. The median price of homes in May 2006 was $550,000, compared to $562,000 in May 2005, which represents a 2.3% drop. The average price of homes in May 2006 was $584,012, compared to $582,000 in May 2005, which represents a 0.3% increase. Approximately 33 homes sold in May 2006 and 37 in May 2005. The data was mixed in June 2006, as median prices declined and average prices rose slightly from the same period last year. The median price of homes in April 2006 was $564,000, compared to $565,000 in April 2005, which represents a 0.20% drop. The average price of homes in April 2006 was $584,722, compared to $612,897 in April 2005, which represents a 4.6% drop. Approximately 32 homes sold in April 2006 and 36 in April 2005. The data provides evidence that there was a downward price trend in April 2006 compared to the same period last year. The median price of homes in March 2006 was $558,000, compared to $545,000 in March 2005, which represents a 1.5% increase. The average price of homes in March 2006 was $589,161, compared to $576,227 in March 2005, which represents a 3.60% increase. Approximately 29 homes sold in March 2006 and 39 in March 2005. The data provides evidence that there was an upward price trend in March 2006 compared to the same period last year. The median price of homes in February 2006 was $560,000, compared to $525,000 in February 2005, which represents a 7.4% increase. The average price of homes in February 2006 was $582,435, compared to $571,708 in February 2005, which represents a 2.50% increase. Approximately 17 home sold in February 2006 and 29 in February 2005. The data provides evidence that there was an upward price trend in February 2006 compared to the same period last year. The median price of homes was $585,000 in January 2006, compared to $525,000 in January 2005, which represents a 10% increase. The average price of homes in January 2006 was $634,524, compared to $542,708 in January 2005, which represents a 16.9% increase. Approximately 21 homes sold in January 2006 and 25 in January 2005. The data provides evidence that there was an upward price trend in January 2006 compared to the same period last year. So what does the above data tell us? Overall, there was a 19% decline in the number of homes sold during this period from 2006 to 2005. The pricing trends early in the year (January, February and March) were in the upward direction for both median and average prices, which showed increases year-over-year ranging from 1.5% to 16.9%. However, since then, the pricing trend has been downward or mixed depending on the month. For example, April and July demonstrated downward median and average prices ranging from around half a percent up to 5%. For May and June, the median price was down around 2% from the previous year, and the average price was slightly up around half a percent. These findings suggest that at best, prices have leveled off, and at worst, are starting to decline. Continued monitoring of sale data in subsequent months is needed to identify enduring market trends. Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Clairemont. |
