COMMUNITY INFORMATION
Rancho Penasquitos is situated in the northern inland part of San Diego County within the state of California. There are approximately 54,289 residents in this Zip Code (92129) and 16,595 households. The median age of residents is 34.27 years.
TEMPERATURE
The temperature in Rancho Penasquitos is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 72°F. The coldest time of year occurs in January with average temperatures falling to 55°F.
HOME AND REAL ESTATE PRICES
The housing options in Rancho Penasquitos include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
· One bedroom townhouse/condominium start in the low $200,000s.
· Two bedroom townhouse/condominium start in the high $200,000s.
· Three bedroom townhouse/condominium start in the low $300,000s.
· Three bedroom single-family homes start in the high $400,000s
· Four bedroom single-family homes start in the low $500,000s
REAL ESTATE MARKET TRENDS
As with most products and services in the United States, price shifts in the real estate industry are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month available (June 2006), compared against the same period in the previous year (June 2005).
For the 92129 Zip Code, the median price of resale single-family homes was $630,000 in June 2006, which represents a 6% decrease. A total of 55 homes were sold in June 2006. The median price of resale condominiums was $345,000 in June 2006, which represents a 6.1% decline. A total of 17 units were sold in June 2006. For new construction homes and condominiums, the median price in June 2006 was $315,000, which was down 38.1% from the previous year. A total of 7 properties sold in June 2006.
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to understand enduring market trends.
www.sdhomedatabase.com
www.pacific-beach-homes.com
www.dqnews.com
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