November Real Estate Market Profile

As a Realtor I am often times asked how our local market is performing. Well, here is the November Market Update that I have prepared so you can get the scoop on whats going on in the 92024 zip code.
(Note, based on single family homes, not including condominiums, townhomes, or manufactured homes.)

Property Sales

November Property sales were 43, up 72.0% from 25 in November of 2011 and 2.4% higher than the 42 sales last month. November 2012 sales were at their highest level compared to November of 2011 and 2010. November YTD sales of 429 are running 30.0% ahead of last year's year-to-date sales of 330.

Prices

The Median Sales Price in November was $715,000, up 10.0% from $650,000 in November of 2011 and down -23.5% from $935,000 last month. The Average Sales Price in November was $858,961, up 9.4% from $784,820 in November 2011 and down -24.3% from $1,135,218 last month. November 2012 ASP was at a mid range compared to November of 2011 and 2012.

Inventory & MSI

The Total Inventory of Properties available for sale as of November was 101, down -16.5% from 121 last month and down -44.8% from 183 in November of last year. November 2012 Inventory was at the lowest level compared to November 2011 and 2010. 

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The November 2012 MSI of 2.3 months was at its lowest level compared with November 2011 and 2010. 

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyers market, a downward trend a move towards more of a Seller's market. The DOM for November was 67, down -8.2% from 73 days last month and down -17.3% from 81 days in November of last year. The November 2012 DOM was at its lowest level compared with November of 2011 and 2010. 

San Diego Holiday Events - 2012

Well everyone, the holiday season has arrived, and there is no shortage of great things to do in our fine city. See below for a list of some great events that are going on around San Diego this month and don't forget to like my Facebook page if you haven't already :)

Happy Holidays!

Balboa Park December Nights, one of the nation's premier holiday festivals, take place for the 35th consecutive year this weekend on December 7-8. The event brings families and friends together to spread some holiday joy and take in the various holiday traditions/cultures from different countries all over the world. 

Visitors can enjoy delicious and diverse food choices, spend some time in the beer/wine garden that includes unique beverages from across the globe, and watch the top-notch musical and dance performances that will be taking place throughout the night. 

Admission is FREE! Visit Balboa Park's website to learn more information about this wonderful event.

The San Diego Bay Parade of Lights is held every year on two consecutive Sundays in December. This year the parade will be held on Sunday, December 9 and the following Sunday, December 16. The event starts with a firework show that begins at 5:30pm and then the parade will start from Shelter Island immediately following the fireworks. 

The parade proceeds from Shelter Island and passes Harbor Island, the Embarcadero, Seaport Village, and Ferry Landing in Coronado. 

For mor information on the San Diego Bay Parade of Lights click here. 

The Hotel Del in Coronado is open for it's Skating by the Sea event. This annual treat is open from now until January 5th from 2pm-5pm and 6pm-9pm daily. There are also weekend and holiday matinee times from 11-1. 

Visit the impressive Hotel Del and witness how they have transformed their Windsor Lawn into an oceanfront outdoor ice-skating rink that overlooks the Pacific Ocean. Grab a hot chocolate and head on over to skate on the beach during sunset... how cool is that?!

Visit the Hotel Del's website for more information. 

The San Diego Botanic Garden, located right here in Encinitas off of Quail Gardens Rd. will be hosting a Garden of Lights from December 8-23 & 26-30 from 5-9pm. 

The botanical garden has been transformed into a bright and cheery winter wonderland displaying over 100,000 shining lights that illuminate the garden for a magical holiday experience. There is live music nightly, from 6-8pm, and weather permitting, they will be bringing in their snow to play and sled in from Dec. 8-13 and 26-30!

For more info, click here.