The Logan Heights community is located just south of Downtown San Diego, within San Diego County, California. The community is located within the 92113 Zip Code.
The real estate and homes for sale in Logan Heights falls into the middle-income category. The number of homes sold in a particular year is relatively low. For example, during the period from January through July 2006, approximately 73 single-family homes sold. Approximately 67 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 $407,500, compared to $379,000 in July 2005, which represents a 4.6% increase. The average price of homes in July 2006 was $398,900, compared to $390,333 in July 2005, which represents a 1.6% increase. Approximately 10 homes sold in July 2006 and 3 in July 2005. In summary, there was an upward price trend in July 2006 compared to the same period last year.
The median price of homes in June 2006 was $425,000, compared to $403,750 in June 2005, which represents a 7.6% increase. The average price of homes in June 2006 was $400,808, compared to $407,536 in June 2005, which represents a 1.7% decrease. Approximately 13 homes sold in June 2006 and 14in June 2005. The data was mixed in June 2006, as the median price increased and the average price declined slightly.
The median price of homes in May 2006 was $407,000, compared to $387,000 in May 2005, which represents a 10% increase. The average price of homes in May 2006 was $403,538, compared to $392,529 in May 2005, which represents a 3.9% increase. Approximately 13 homes sold in May 2006 and 17 in May 2005. In summary, there was an upward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $387,500, compared to $382,000 in April 2005, which represents a 1.4% increase. The average price of homes in April 2006 was $374,800, compared to $383,490 in April 2005, which represents a 2.3% drop. Approximately 10 homes sold in April 2006 and 10 in April 2005. The data was mixed for April 2006, as the median prices increased and the average price decreased.
The median price of homes in March 2006 was $410,000, compared to $331,750 in March 2005, which represents a 22.9% increase. The average price of homes in March 2006 was $387,222, compared to $346,375 in March 2005, which represents a 10.8% increase. Approximately 9 homes sold in March 2006 and 12 in March 2005. In summary, 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 $470,500, compared to $375,000 in February 2005, which represents a 32% increase. The average price of homes in February 2006 was $457,667, compared to $364,000 in February 2005, which represents a 39% increase. Approximately 6 homes sold in February 2006 and 3 in February 2005. In summary, there was a strong upward price trend in February 2006 compared to the same period last year.
The median price of homes was $384,000 in January 2006, compared to $355,000 in January 2005, which represents a 10.7% increase. The average price of homes in January 2006 was $407,833, compared to $371,063 in January 2005, which represents a 13.9% increase. Approximately 12 homes sold in January 2006 and 8 in January 2005. In summary, there was an upward price trend in January 2006 compared to the same period last year.
So what does the data tell us? Overall, the number of homes sold increased 9% for the period observed from 2006 to 2005. Five out of seven months showed an upward price trend compared to the same period last year with a range of 1% to 39% increase (January, February, March, May and July 2006). Two months (April and June 2006) had decreases in average price, but still showed gains in median price. On balance, there is evidence of an upward price trend for this community. However, a longer period of evaluation is needed to understand enduring market trends.
Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Logan Heights.
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