The Normal Heights region is located in central San Diego County, California. The community is located just south of Interstate 8, and in between Interstates 805 and 15.
The real estate and homes for sale in Normal Heights fall into the moderate-income category. The number of homes sold in a particular year is relatively high. For example, during the period from January through July 2006, approximately 146 single-family homes were sold. Approximately 141 homes were 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 $627,000, compared to $565,000 in July 2005, which represents a 13.5% increase. The average price of homes in July 2006 was $695,500, compared to $589,706 in July 2005, which represents an 18.9% increase. Approximately 10 homes sold in July 2006 and 17 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 $676,250, compared to $665,000 in June 2005, which represents a 1.7% increase. The average price of homes in June 2006 was $744,275, compared to $692,105 in June 2005, which represents a 7.5% increase. Approximately 20 homes sold in June 2006 and 19 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 $554,500, compared to $653,500 in May 2005, which represents a 12.3% drop. The average price of homes in May 2006 was $686,867, compared to $714,481 in May 2005, which represents a 3.4% drop. Approximately 30 homes sold in May 2006 and 26 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 $540,000, compared to $559,950 in April 2005, which represents a 3.6% drop. The average price of homes in April 2006 was $580,000, compared to $633,725 in April 2005, which represents an 8.5% drop. Approximately 22 homes sold in April 2006 and 32 in April 2005. In summary, there was a downward price trend in April 2006 compared to the same period last year.
The median price of homes in March 2006 was $505,000, compared to $565,000 in March 2005, which represents an 8.6% drop. The average price of homes in March 2006 was $522,435, compared to $623,667 in March 2005, which represents a 15.1% drop. Approximately 31 homes sold in March 2006 and 21 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 $515,000, compared to $533,736 in February 2005, which represents a 3.5% drop. The average price of homes in February 2006 was $621,238, compared to $524,498 in February 2005, which represents an 18.4% increase. Approximately 21 homes sold in February 2006 and 12 in February 2005. The data was mixed for February 2006, as the median priced decreased and the average price increased from the same time last year.
The median price of homes was $509,500 in January 2006, compared to $479,500 in January 2005, which represents a 7.3% increase. The average price of homes in January 2006 was $622,325, compared to $583,607 in January 2005, which represents an 8.5% increase. Approximately 12 homes sold in January 2006 and 14 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 above data tell us? Overall, the number of homes sold increased 3.5% from 2005 to 2006. Besides that, no clear pattern emerged. Three of seven months (January, June and July 2006) demonstrated increases in the median and average price (range 1.7% to 18.9%). In contrast, three of seven months (March, April and May 2006) demonstrated decreases in the median and average price (range 3.4% to 15.1%). The data was mixed for February 2006, as the median price increased 18.4%, and the average price decreased 3.5%. Given the ups and down described above, a longer period of evaluation is needed to determine if a clear pattern emerges.
Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in Normal Heights.
San Diego Real Estate
Market Trends Data Source
Pacific Beach Real Estate
|
|
