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                                BENEFIT!




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North San Diego County
   ...
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HomeDex™ Key Points
                                       March 2009 Data
1. The median price for all North County home s...
North San Diego County HomeDexTM
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Homedex 4 09

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North County San Diego Price index

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Homedex 4 09

  1. 1. NSDCAR MEMBER BENEFIT! $ North San Diego County TM HomeDex APRIL 2009 REPORT March 2009 Statistics North San Diego County Association of REALTORS®
  2. 2. PLEASE READ The name HomeDex™ and its contents are protected under a trademark and copyright held by the North San Diego County Association of Realtors® (NSDCAR). Permission is granted to NSDCAR members to use the HomeDex™ name and/or its contents in any printed materials, website or other media applications – provided any and all attribution for the HomeDex™ name and its contents is given to the North San Diego County Association of Realtors™. Failure to do so will result in revoking permission to use the HomeDex™ name and/or its contents Direct written requests for permission, together with a brief description of how the name and contents would be used, to Lynn Sullivan, NSDCAR Communications Director, at Communications@nsdcar.com and include the proposed user’s contact information. HomeDex™ is prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D., California State University, San Marcos. Questions may be directed to Dr. Brown at rbrown@csusm.edu; phone # (760)750-4196 or to NSDCAR Communications Director, Lynn Sullivan, at Communications@nsdcar.com; phone # (760) 734-3971. Data source: Sandicor, Inc. Statistics obtained from MLS data. Copyright North San Diego County Association of REALTORS®, 2009. No portion of this text may be reproduced, redistributed, faxed OR TRANSMITTED ELECTRONICALLY without the written permission of the North San Diego County Association of REALTORS®. 01/12/09
  3. 3. HomeDex™ Key Points March 2009 Data 1. The median price for all North County home sales – attached and detached – increased 4.13% in March 2009 from February 2009, to $324,889. a. Detached homes in North County decreased 0.25 percent, from February 2009 to March 2009, from $364,900 to $364,000. i. Detached home prices OUTSIDE North County decreased 4.69% from February 2009 to March 2009, from $320,000 to $305,000. ii. March 2009 median single-family detached homes in North San Diego County fell 25.71%, from $490,000 in March 2008. The median price OUTSIDE North County for single-family homes fell 25.61% from the $410,000 a year ago. iii. The countywide median price of homes sold decreased from $335,000 in February 2009 to $325,000 in March 2009 and was down 26.14% from the March 2008 number. b. Attached home prices in North County increased during March 2009 by 2.76%, from $181,000 a month earlier to $186,000. i. Non-North County attached home prices decreased 10.05% in March 2009; from $189,000 to $170,000. ii. North County attached homes decreased 45.28% from $339,900 a year ago. c. Median days-on-market for single-family detached homes in North County decreased from 52 to 46 days between February 2009 and March 2009. The number of North County single-family homes sold increased 25.97% last month, from 543 to 684. There was a year-to-year increase of 41.32% from the 484 homes sold in March 2008. 2. The residential real estate market has swung from the seller’s market of three years ago when home prices were increasing as much as 20 to 30 percent per year to the buyer’s market today where prices have decreased and there’s an abundant inventory of homes from which to choose. That’s good news for those looking to buy a home. a. Interest rates continue at record lows, at least for the short-term future. 1 The current condition of the housing market needs to be kept in historical perspective. Home values rose 88 percent on a national average – higher in California – over the past decade. 4. Sales continue to be hampered by problems in real estate finance. Both tighter underwriting standards and the ongoing effects of the credit/liquidity crunch continue to limit sales. a. Buyers with secured financing, or all cash are not hampered by the constraints of the real estate financing market. 2 In fact, several North County brokers and agents have experienced significant increases in activity in recent weeks, working with well-qualified buyers who recognize optimum buying conditions in which there are low interest rates and an abundant selection of homes on the market.
  4. 4. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes Single-Family Detached Home Prices • The median price for all homes in North San Diego County – single-family detached and single-family attached – rose to $324,889 in March 2009 from $312,000 in February 2009.1 • The median-priced single-family detached (SFD) home in North San Diego County declined 0.25 percent from $364,900 in February 2009 to $364,000 in March 2009. SFD median prices in Non-North County zip codes decreased 4.69 percent from $320,000 in February 2009 to $305,000 in March 2009. • March 2009 median SFD prices in North San Diego County fell 25.71 percent year over from $490,000 in March 2008. Median price decreased 25.61 percent in Non-North County from $410,000 in March 2008 to $305,000 in March 2009. • The countywide median SFD price fell 2.99 percent from $335,000 in February 2009 to $325,000 in March 2009, with a 26.14 percent decline from March 2008. 1 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  5. 5. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes • The median days-on-market for North San Diego County SFD homes declined from 52 days in February 2009 to 46 days in March 2009. The average number of days-on-market decreased to 76 in March 2009 from 77 in February 2009.2 • The SFD median price-per-square foot fell from $191 in February 2009 to $184 in March 2009, a 27.22 percent decline from March 2008. 2 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  6. 6. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes • Active SFD listings in North San Diego County decreased from 4,283 at the end of February 2009 to 4,221 active SFD listings ending March 2009, compared with 5,491 in March 2008. San Diego County active SFD listings fell from 9,029 at the end of February 2009 to 8,536 ending March 2009, compared to 11,748 active listings reported countywide at the end of March 2008. • The number of North San Diego County SFD units sold increased 25.97 percent to 684 in March 2009 from 543 in February 2009. SFD home sales increased 41.32 percent from 484 sold in March 2008. 3 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  7. 7. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes Housing Affordability – Single-Family Detached Homes • The monthly payment – including principle, interest, property taxes, and insurance – for the median-priced SFD home in North San Diego County decreased from $2,024 in February 2009 to $1,994 in March 2009 (based on a conventional mortgage.) The monthly payment for the median-priced SFD home in Non-North San Diego County fell from $1,775 in February 2009 to $1,671 in March 2009. • 34 percent of San Diego County households could afford the median-priced SFD home in North County in March 2009, according to the North San Diego County HomeDexTM. In Non-North County zip codes affordability rose to 43 percent in March 2009 from 40 percent in February 2009.3 The HomeDexTM affordability percentage was 19 percent for North County and 25 percent in Non-North San Diego County zip codes in March 2008. • The HomeDexTM affordability percentage for all homes in North San Diego County – single-family detached and single-family attached together – was 40 percent in March 2009. 4 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  8. 8. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes Single-Family Detached Home Prices and Affordability by North County Zip Codes4 • Rancho Santa Fe (92067) reported the highest median SFD price at $3.425 million followed by Del Mar (92014) at $1.8 million and Solana Beach (92075) at nearly $1.4 million. Carmel Valley (92130) reported a $943,000 median price followed by Cardiff (92007) at $850,000 and Carlsbad (92011) at $740,000. Rancho Bernardo (92127), Carlsbad (92009), and Encinitas (92024) reported median prices in the $600,000s with Carlsbad (92008), Rancho Penasquitos (92129), Rancho Bernardo (92128), and Bonsall (92003) in the $500,000s. • San Marcos (92078), Carlsbad (92010), Poway (92064), and Valley Center (92082) had median SFD prices ranging from $405,000 to $480,000. Escondido (92029), Ramona (92065), Vista (92081), Fallbrook (92028), and Oceanside (92054, 92056, 92057) reported median SFD prices between $315,000 and $368,000 with Escondido (92025, 92026, 92027), Vista (92083, 92084), and Pala (92059) under $300,000. 5 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  9. 9. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes • Rancho Santa Fe (92067), Del Mar (92014), Solana Beach (92075), Carlsbad (92011), Cardiff (92007), and Carmel Valley (92130) were the least affordable areas in North San Diego County with less than 10 percent of county households able to afford the median-priced home.5 • Carlsbad (92008, 92009), Rancho Bernardo (92127), Rancho Penasquitos (92129), Bonsall (92003), and Encinitas (92024) had affordability percentages between 10 and 20 percent. Carlsbad (92010), Poway (92064), San Marcos (92078), Rancho Bernardo (92128), and Valley Center (92082) reported affordability percentages ranging between 21 percent and 30 percent. • Vista (92081), San Marcos (92069), Escondido (92029), Fallbrook (92028), and Ramona (92065) had affordability percentages between 34 and 37 percent with Escondido (92026), Oceanside (92054, 92056, 92057), Pala (92059), and Vista (92084) reporting affordability percentages of between 40 and 48 percent. Vista (92083) and Escondido (92025, 92027) had over 50 percent affordability rates. 6 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  10. 10. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes North San Diego County Housing Characteristics Single-Family Detached Homes March 2009 Median Price $364,000 Average Price $499,430 Median Price per Square Foot $184 Lowest-Priced Home Sold $92,500 Highest-Priced Home Sold $7,350,000 Number Units Sold 684 Total Sales6 $341,110,919 Median Days on Market 46 Median Square Feet 1,878 Median Number of Bedrooms 4 Median Number of Baths 3 Median Lot Size (sq. feet) 8,195 Median Age (years) of Homes Sold 22 HomeDexTM (Percent of San Diego County households Median Home Prices affording median-priced home) North San Non-North North San Diego Non-North Month/Year Diego County San Diego County County San Diego County March 2008 $490,000 $410,000 19% 25% April 2008 $510,000 $410,000 17% 24% May 2008 $515,000 $400,000 17% 26% June 2008 $490,000 $385,000 18% 27% July 2008 $457,500 $376,500 21% 29% August 2008 $450,000 $360,000 20% 29% September 2008 $430,000 $350,000 22% 30% October 2008 $408,000 $345,000 24% 32% November 2008 $358,000 $325,000 31% 35% December 2008 $375,000 $335,000 29% 34% January 2009 $361,250 $310,000 29% 36% February 2009 34% 40% $364,900 $320,000 March 2009 $364,000 $305,000 34% 43% 7 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  11. 11. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes Median Median March March % Price March Days on Days on 2009 2008 March 2009 Chg. From 2009 Market Market % North San Diego County Zip March Chg. from Afford- Afford- Median March Sold ability7 Codes ability 2008 Listings 2009 Feb. 2009 Price 92003 - BONSALL 20% 30% $518,750 41% 2 81 -49% 92007 - CARDIFF 8% 3% $850,000 -26% 3 37 -75% 92008 - CARLSBAD 16% 9% $580,000 -11% 7 13 -75% 92009 - CARLSBAD 12% 7% $645,000 -18% 23 27 -56% 92010 - CARLSBAD 23% 15% $475,000 -13% 3 39 -44% 92011 - CARLSBAD 9% 8% $740,000 -1% 10 138 463% 92014 - DEL MAR 2% 2% $1,800,000 11% 7 89 -6% 92024 - ENCINITAS 14% 7% $615,000 -24% 18 29 -46% 92025 - ESCONDIDO 56% 7% $229,500 -70% 18 74 -20% 92026 - ESCONDIDO 46% 30% $287,000 -21% 47 46 35% 92027 - ESCONDIDO 56% 31% $232,000 -35% 61 41 11% 92028 - FALLBROOK 37% 31% $340,000 -6% 39 57 -8% 92029 - ESCONDIDO 36% 31% $354,450 -1% 10 32 85% 92054 - OCEANSIDE 41% 21% $317,450 -30% 8 11 -87% 92056 - OCEANSIDE 40% 25% $323,500 -21% 38 34 21% 92057 - OCEANSIDE 42% 31% $315,000 -13% 54 24 -60% 92059 - PALA 48% 21% $275,000 -40% 3 83 -76% 92061 - PAUMA VALLEY - - - - 0 - - 92064 - POWAY 29% 15% $415,000 -25% 27 38 -3% 92065 - RAMONA 37% 28% $340,000 -12% 29 71 11% 92067 - RANCHO SANTA FE 0% 0% $3,425,000 37% 9 77 -31% 92068 - SAN LUIS REY - - - - 0 - - 92069 - SAN MARCOS 34% 27% $367,063 -6% 36 50 50% 92075 - SOLANA BEACH 3% 2% $1,383,750 -15% 2 75 - 92078 - SAN MARCOS 22% 16% $479,900 -9% 41 49 11% 92081 - VISTA 36% 21% $351,000 -22% 26 72 4% 92082 - VALLEY CENTER 30% 19% $405,000 -16% 11 62 158% 92083 - VISTA 55% 31% $237,500 -34% 24 82 21% 92084 - VISTA 46% 27% $290,000 -26% 24 38 -45% 92091 - RANCHO SANTA FE - - - - 0 - - 92127 - RANCHO BERNARDO 10% 8% $680,000 -4% 19 57 58% 92128 - RANCHO BERNARDO 21% 14% $509,000 -9% 28 41 -42% 92129 - RANCHO PENASQUITOS 20% 13% $525,000 -9% 21 34 -40% 92130 - CARMEL VALLEY 6% 4% $943,000 -5% 20 39 -53% quot;Foreclosuresquot; refers to the number of unique addresses in some stage of foreclosure in 8 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  12. 12. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes North San Diego County Housing Characteristics Single-Family Detached Homes 1st Quarter of 2009 Median Price $363,500 Average Price $484,974 Median Price per Square Foot $189 Lowest-Priced Home Sold $87,000 Highest-Priced Home Sold $8,250,000 Number Units Sold 1,803 Total Sales $873,922,912 Median Days on Market 49 Median Square Feet 1,843 Median Number of Bedrooms 4 Median Number of Baths 3 Median Lot Size (sq. feet) 8,000 Median Age (years) of Homes Sold 23 9 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  13. 13. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Detached Homes 1 The median is the middle-priced home sold: Half the homes sold for more than the median, and half sold for less. 2 The reported days-on-market is defined as the time between the listing and sale of a property. In the event that a property is re-listed then days-on-market is calculated from the new list date to sale date; therefore, the occurrence of re-listing biases downward the reported days-on-market. 3 HomeDexTM affordability percentages assume homeowners place 20 percent down and spend no more than a third of their income on housing, which in North County during March 2009 required an annual income of $79,772 for the median-priced SFD home – an amount earned by 34 percent of San Diego County households. 4 Monthly median prices and HomeDexTM household affordability percentages reported for some zip codes were calculated from small numbers of sold listings; reported numbers may be sensitive to price variations and do not imply statistical significance. 5 HomeDexTM affordability percentages show the percent of San Diego County households that can “afford” the median-priced SFD home in a particular zip code, assuming homeowners place 20 percent down and spend no more than a third of their income on housing given prevailing monthly interest rates. 6 Total SFD sales in North County were $264,157,348 in February 2009 and $335,098,763 in March 2008. 7 Percent of San Diego County households that can “afford” the median-priced home in a particular zip code – see footnotes 3 and 5. 10 of 10 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu or 760-750-4196; or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/09. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  14. 14. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes Single-Family Attached Home Prices • The North San Diego County median-priced single-family attached (SFA) home increased 2.76 percent from $181,000 in February 2009 to $186,000 in March 2009. The Non-North San Diego County SFA home median price decreased 10.05 percent from $189,000 in February 2009 to $170,000 in March 2009.1 • North San Diego County SFA median prices decreased 45.28 percent year-over from $339,900 in March 2008. Non-North County median SFA prices fell 35.85 percent from $265,000 in March 2008. • The county-wide SFA home median price decreased from $185,000 in February 2009 to $175,000 in March 2009, a 41.5 percent decline from March 2008. • The median number of days-on-market for North County SFA homes sold rose from 42 days in February 2009 to 55 in March 2009. The average number of days-on-market increased from 79 in February 2009 to 84 in March 2009.2 1 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  15. 15. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes • The number of sold SFA units in North San Diego County increased 16.06 percent from 218 in February 2009 to 253 in March 2009, up 37.5 percent year- over from March 2008. • Active SFA listings in North San Diego County rose from 1,408 ending February 2009 to 1,432 ending March 2009; there were 1,892 active listings ending March 2008. San Diego County active SFA listings fell from 5,006 at the end of February 2009 to 4,905 at the end of March 2009. 2 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  16. 16. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes Housing Affordability – Single-Family Attached Homes • The monthly payment – including principle, interest, property taxes, and insurance – for the median-priced SFA home in North County increased from $1,004 in February 2009 to $1,019 in March 2009. The monthly payment for the median-priced SFA home in Non-North San Diego County zip codes decreased from $1,049 in February 2009 to $931 in March 2009. • 66 percent of San Diego County households could afford the median-priced SFA home in North San Diego County in March 2009, down from 67 percent in February 2009.3 The single-family attached home affordability level for Non- North San Diego County zip codes rose to 70 percent in March 2009 from 65 percent in February 2009. • 33 percent of county households could afford the median-priced SFA home in North San Diego County in March 2008 and 46 percent for Non-North County zip codes. 3 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  17. 17. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes Single-Family Attached Home Prices and Affordability by North County Zip Codes4 • Rancho Santa Fe (92067) had the highest SFA median price in North San Diego County at over $1 million with Del Mar (92014), Solana Beach (92075), and Rancho Santa Fe (92091) in the mid-$500,000s and Carmel Valley (92130) at $410,000. Carlsbad (92009, 92010, 92011), Encinitas (92024), and Cardiff (92007) had median SFA prices between $303,500 and $370,000 with Carlsbad (92008), Rancho Bernardo (92128), Poway (92064), San Marcos (92078), and Rancho Penasquitos (92129) having median SFA prices in the $200,000s. • Rancho Bernardo (92127), Oceanside (92054, 92056, 92057), Vista (92081, 92083, 92084), San Marcos (92069), Bonsall (92003), Fallbrook (92028), and Escondido (92026) reported median SFA home prices between $107,000 and $193,000. Escondido (92025, 92027) had the lowest-priced zip codes with median prices under $100,000. 4 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  18. 18. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes • Rancho Santa Fe (92067) was the least affordable zip code with five percent of county households able to afford the median-priced SFA home. Del Mar (92014), Solana Beach (92075), and Rancho Santa Fe (92091) reported affordability percentages of 18 and 19 percent followed by Carmel Valley (92130) at 29 percent.5 • Carlsbad (92010, 92011), Encinitas (92024), and Cardiff (92007) had between 34 and 39 percent affordability with Carlsbad (92009, 92010) and Rancho Bernardo (92127) reporting affordability percentages between 44 and 47 percent and Rancho Penasquitos (92129), San Marcos (92078) and Poway (92064) at over 50 percent. • Around 65 percent of county households could afford the median-priced SFA homes in Rancho Bernardo (92127), Oceanside (92056), and Vista (92081). Between 72 percent and 79 percent of county households could afford the median-priced SFA homes in Vista (92081, 92084), Fallbrook (92028), Ramona (92065), and San Marcos (92069). • Escondido (92025, 92026, 92027), Oceanside (92054, 9205), and Bonsall (92003) were the most affordable zip codes in North County at over 80 percent of county households able to afford the median-priced SFA home. 5 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  19. 19. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes North San Diego County Housing Characteristics Single-Family Attached Homes March 2009 Median Price $186,000 Average Price $234,344 Median Price per Square Foot $169 Lowest-Priced Home Sold $50,000 Highest-Priced Home Sold $1,240,000 Number Units Sold 253 Total Sales6 $59,288,934 Median Days on Market 55 Median Square Feet 1,093 Median Number of Bedrooms 2 Median Number of Baths 2 Median Age (years) of Homes Sold 25 SFA Median Home Prices HomeDex Single-Family Attached North San Diego Non-North North San Diego Non-North Month/Year County San Diego County County San Diego County March 2008 $339,000 $265,000 33% 46% April 2008 $306,000 $290,000 38% 41% May 2008 $300,000 $280,000 39% 43% June 2008 $266,000 $250,000 45% 48% July 2008 $252,500 $246,000 48% 49% August 2008 $261,200 $232,000 45% 50% September 2008 $230,000 $228,000 51% 51% October 2008 $208,000 $201,000 56% 57% November 2008 $180,000 $203,000 63% 57% December 2008 $210,000 $195,000 56% 59% January 2009 $198,000 $190,000 59% 61% February 2009 $181,000 $189,000 67% 65% March 2009 $186,000 $170,000 66% 70% 6 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  20. 20. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes Median Median March March % Price Days on Days on 2009 2008 Chg. From March 2009 March Market Market % Afford- Afford- Median March 2009 Sold North San Diego County Zip March Chg. from ability7 Codes ability Price 2008 Listings 2009 Feb. 2009 92003 - BONSALL 83% 58% $107,500 -47% 4 186 248% 92007 - CARDIFF 39% 20% $332,750 -30% 2 42 -17% 92008 - CARLSBAD 46% 16% $290,000 -46% 7 36 -71% 92009 - CARLSBAD 44% 26% $303,500 -24% 12 59 -46% 92010 - CARLSBAD 36% 34% $347,000 5% 3 69 21% 92011 - CARLSBAD 34% 17% $369,000 -28% 5 13 86% 92014 - DEL MAR 18% 31% $559,250 54% 2 73 74% 92024 - ENCINITAS 34% 34% $367,000 10% 13 44 83% 92025 - ESCONDIDO 85% 31% $99,900 -72% 9 36 31% 92026 - ESCONDIDO 82% 60% $111,500 -43% 16 46 5% 92027 - ESCONDIDO 91% 61% $70,000 -63% 11 68 183% 92028 - FALLBROOK 72% - $161,950 - 2 49 -29% 92029 - ESCONDIDO - 48% - - 0 - - 92054 - OCEANSIDE 81% 51% $117,500 -51% 9 62 -70% 92056 - OCEANSIDE 65% 50% $190,000 -22% 17 80 264% 92057 - OCEANSIDE 81% 48% $119,100 -53% 30 50 19% 92059 - PALA - - - - 0 - - 92061 - PAUMA VALLEY - - - - 0 - - 92064 - POWAY 51% 31% $259,000 -28% 2 103 147% 92065 - RAMONA 74% 51% $153,000 -36% 8 101 321% 92067 - RANCHO SANTA FE 5% 19% $1,050,000 119% 1 164 - 92068 - SAN LUIS REY - - - - 0 - - 92069 - SAN MARCOS 75% 41% $148,500 -49% 14 83 45% 92075 - SOLANA BEACH 18% 13% $557,500 -4% 4 80 9% 92078 - SAN MARCOS 58% 34% $222,000 -33% 16 100 186% 92081 - VISTA 68% 39% $179,000 -40% 2 85 -3% 92082 - VALLEY CENTER - - - - 0 - - 92083 - VISTA 75% 61% $145,000 -24% 5 29 -46% 92084 - VISTA 79% 77% $126,000 1% 6 59 0% 92091 - RANCHO SANTA FE 19% - $528,785 - 2 93 10% 92127 - RANCHO BERNARDO 65% 32% $192,250 -45% 10 25 -22% 92128 - RANCHO BERNARDO 47% 33% $285,000 -16% 19 48 -36% 92129 - RANCHO PENASQUITOS 59% 52% $217,000 -6% 10 42 20% 92130 - CARMEL VALLEY 29% 15% $410,000 -25% 12 73 383% 7 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  21. 21. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes North San Diego County Housing Characteristics Single-Family Attached Homes 1st Quarter of 2009 Median Price $185,500 Average Price $239,431 Median Price per Square Foot $177 Lowest-Priced Home Sold $50,000 Highest-Priced Home Sold $1,300,000 Number Units Sold 659 Total Sales $157,785,195 Median Days on Market 46 Median Square Feet 1,074 Median Number of Bedrooms 2 Median Number of Baths 2 Median Lot Size (sq. feet) 25 Median Age (years) of Homes Sold $185,500 8 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  22. 22. North San Diego County HomeDexTM March 2009 Summary Report Single-Family Attached Homes 1 The median is the middle-priced home sold: Half the homes sold for more than the median, and half sold for less. 2 The reported days-on-market number is defined as the time between the listing and sale of a property. In the event that a property is re-listed then days-on-market is calculated from the new list date to sale date; the occurrence of re-listing biases downward the reported days-on-market. 3 HomeDexTM affordability percentages assume homeowners place 20 percent down and spend no more than a third of their income on housing, which in North County during March 2009 required an annual income of $40,763 for the median-priced SFA home – an amount earned by 66 percent of San Diego County households. 4 Monthly median prices and HomeDexTM numbers reported for some zip codes were calculated from small numbers of sold listings; reported numbers may be sensitive to price variations and do not imply statistical significance. 5 HomeDexTM affordability percentage is the percent of San Diego County households that can “afford” the median-priced SFA home in particular zip code, assuming homeowners place 20 percent down and spend no more than a third of their income on housing at the prevailing monthly interest rates. 6 February 2009 total SFA sales were $57,051,059 and $64,692,882 in March 2008 for North San Diego County. 7 Percent of San Diego County households that can “afford” the median-priced home in a particular zip code – see footnotes 3 and 5. 9 of 9 Prepared for the North San Diego County Association of REALTORS® by Robert Brown, Ph.D. Department of Economics California State University, San Marcos. Inquiries may be directed to Robert Brown rbrown@csusm.edu; 760-750-4196 or Lynn Sullivan, NSDCAR Communications Director: lynn@nsdcar.com or 760-734-3976. Statistics from data reported on 4/4/2009. Data source: Sandicor, Inc. Comparisons are not based on identical samples of homes sold and do not imply statistical significance.
  23. 23. Vista Administrative Offices & Service Center 906 Sycamore Ave., Suite 104 Vista, CA 92081 Phone: (760) 734-3971 Fax: (760) 734-3976 Escondido Service Center Carsbad Service Center 1802 S. Escondido Blvd., Suite E 6183 Paseo Del Norte, Ste. 150 Escondido, CA 92025 Carlsbad, CA 92009 Phone: (760) 745-2299 Phone: (760) 929-2100 Fax: (760) 745-3842 Fax: (760) 929-2115 Carmel Valley Service Center Fallbrook Service Center 12707 High Bluff Drive, Suite 125 429 South Main Avenue San Diego, CA 92130 Fallbrook, CA 92028 Phone: (858) 350-1600 Phone: (760) 728-5811 Fax: (858) 350-0380 Fax: (760) 728-0646 “Increasing the Success and Profitability of Those We Serve”

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