The Mission Hills region is located in Central San Diego County, California. The community is located off Interstate 8, between Interstate 5 and highway 163.
The real estate and homes for sale in Mission Hills fall into the moderate to upper-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 87 single-family homes sold. Approximately 90 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 $729,950, compared to $930,000 in July 2005, which represents a 27% drop. The average price of homes in July 2006 was $663,41, compared to $1,165,788 in July 2005, which represents a 43.2% drop. Approximately 8 homes sold in July 2006 and 14 in July 2005. In summary, there was a downward price trend in July 2006 compared to the same period last year.
The median price of homes in June 2006 was $927,500, compared to $914,500 in June 2005, which represents a 3.1% increase. The average price of homes in June 2006 was $991,264, compared to $988,165 in June 2005, which represents a 1.2% increase. Approximately 11 homes sold in June 2006 and 12 in June 2005. In summary, there was an upward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $860,000, compared to $942,500 in May 2005, which represents a 6% drop. The average price of homes in May 2006 was $930,813, compared to $969,417 in May 2005, which represents a 3% drop. Approximately 16 homes sold in May 2006 and 12 in May 2005. In summary, there was a downward price trend in May 2006 compared to the same period last year.
The median price of homes in April 2006 was $1,050,000, compared to $849,000 in April 2005, which represents a 25.4% increase. The average price of homes in April 2006 was $1,207,769, compared to $1,018,179 in April 2005, which represents a 21.5% increase. Approximately 13 homes sold in April 2006 and 19 in April 2005. In summary, there was an upward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $800,000, compared to $995,000 in March 2005, which represents a 19.6% drop. The average price of homes in March 2006 was $809,737, compared to $992,455 in March 2005, which represents an 18.4% drop. Approximately 19 homes sold in March 2006 and 11 in March 2005. In summary, there was a downward price trend in March 2006 compared to the same period last year.
The median price of homes in February 2006 was $797,500, compared to $819,800 in February 2005, which represents a 2.7% drop. The average price of homes in February 2006 was $855,064, compared to $981,755 in February 2005, which represents a 10.1% drop. Approximately 14 homes sold in February 2006 and 10 in February 2005. In summary, there was a downward price trend in February 2006 compared to the same period last year.
The median price of homes was $735,000 in January 2006, compared to $711,500 in January 2005, which represents a 3.3% increase. The average price of homes in January 2006 was $765,556, compared to $935,950 in January 2005, which represents an 18.2% drop. Approximately 9 homes sold in January 2006 and 12 in January 2005. The data for January 2006 was mixed, as the median priced increased while the average price decreased.
So, what does the data tell us? Overall, there was a 3% decline in the number of homes sold from 2006 to 2005. Besides that, there was no clear pattern that emerged from the data. Four months out of seven (February, March, May and July 2006) had decreases in the median and average price (range -2.7% to -27%). In contrast, two of the months (April and June 2006) had increases in the median and average price (range 1.2% to 25.4%). Data for January 2006 was mixed, as there was an increase in the median price (3.3%) and a decrease in the average price (18.2%). Given the ups and down described above, a longer period of evaluation is needed to determine if a clear trend is evident for the Mission Hills real estate market.
Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Mission Hills.
San Diego Real Estate
Market Trends Data Source
Pacific Beach Real Estate
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