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 October 2009, which provides a quick summary of recent home and condo sales in Pacific Beach.
For the month of October 2009, a total of 34 residential properties sold. That’s 4 more properties than 2008 sales numbers, in which 29 properties sold. Of the 34 properties that sold in October 2009, 17 of them were single-family homes, and 17 were either townhomes or condominiums.
One question you may have is how are October 2009 prices looking, compared to October 2008. Well, for single-family homes, the median sales price in October 2009 was $720,000, which is down 6.5% from October 2008.
For condominiums and townhomes, the median sales price in October 2009 was $420,000 which is down 8.7% from October 2008.
Another question many people have is how much of a price reduction can buyers and sellers expect in this housing market. Well, in October 2009, for single-family homes, condos and townhomes, on average, sellers obtained 96% of their asking price.
Another question people ask is how long does it take to sell a home? Well, here is some data. In October 2009, on average, it took 63 days to sell a single-family home. Compare that to October 2008, when it took 107 days to sell a single-family home. So homes sold much faster in October 2009, compared to October 2008.
For condominiums and townhomes, in October 2009, on average, it took 67 days to sell a condo or townhome. Compare that to October 2008, when it took 82 days, to sell a condo or townhome. So condos and townhomes sold much faster in October 2009, compared to October 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!
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