My name is Rocky Lall and I’m a Realtor in Pacific Beach, which is in San Diego, California in the 92109 zip code. Welcome to my monthly market trends podcast for August 2009, which provides a quick summary of recent home and condo sales in Pacific Beach.
For the month of August 2009, a total of 33 residential properties sold. That’s the same as 2008 sales numbers, in which 33 properties sold. Of the 33 properties that sold in August 2009, 6 of them were single-family homes and 27 were either townhomes or condominiums.
One question you may have is how are August 2009 prices looking compared to August 2008. Well, for single-family homes, the median sales price in August 2009 was $845,000, which is down 19% from August 2008.
For condominiums and townhomes, the median sales price in August 2009 was $470,000, which is down 12.9% from August 2008.
Another question many people have is how much of a price reduction can buyers and sellers expect in this housing market. Well, in August 2009, for single-family homes, on average, sellers obtained 97% of their asking price. For condominiums and townhomes, on average, sellers obtained 98% of their asking price. So on average, sellers are getting pretty close to their asking price.
Another question people ask is how long does it take to sell a home? Well, here is some data. In August 2009, on average, it took 33 days to sell a single-family home. Compare that to August 2008, when it took 47days to sell a single-family home. So homes sold a bit faster in August 2009, compared to August 2008.
For condominiums and townhomes, in August 2009, on average, it took 77 days to sell a condo or townhome. Compare that to August 2008, when it took 74 days, to sell a condo or townhome. So there’s not much difference is sales time for condos and townhomes between August 2009 and August 2008.
You can view detailed graphs and charts of home and condo sales in Pacific Beach on my website, which is www.pacificbeachrealestate.info
Thanks for listening, and have a great day!
Comments on this entry are closed.