Author: Real Estate Prosbr
Source: articledashboard.combr
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The Mira Mesa region is located in central San Diego County, California. The community is located between Interstates 15 and 805, and falls within the 92126 Zip Code.
The real estate and homes for sale in Mira Mesa 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 236 single-family homes sold. Approximately 340 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 $511,000, compared to $525,000 in July 2005, which represents a 2.7% drop. The average price of homes in July 2006 was $528,734, compared to $535,515 in July 2005, which represents a 1.5% drop. Approximately 32 homes sold in July 2006 and 54 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 $510,000, compared to $535,000 in June 2005, which represents a 4.7% drop. The average price of homes in June 2006 was $518,400, compared to $539,732 in June 2005, which represents a 3.9% drop. Approximately 45 homes sold in June 2006 and 47 in June 2005. In summary, there was a downward price trend in June 2006 compared to the same period last year.
The median price of homes in May 2006 was $520,000, compared to $540,000 in May 2005, which represents a 4.5% drop. The average price of homes in May 2006 was $531,469, compared to $550,088 in May 2005, which represents a 3.9% drop. Approximately 32 homes sold in May 2006 and 40 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 $529,000, compared to $515,000 in April 2005, which represents a 2.7% increase. The average price of homes in April 2006 was $631,786, compared to $525,034 in April 2005, which represents a 20.8% increase. Approximately 45 homes sold in April 2006 and 59 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 $510,000, compared to $529,000 in March 2005, which represents a 3.2% drop. The average price of homes in March 2006 was $516,655, compared to $535,257 in March 2005, which represents a 3.3% drop. Approximately 44 homes sold in March 2006 and 65 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 $517,500, compared to $513,250 in February 2005, which represents a 0.20% increase. The average price of homes in February 2006 was $512,135, compared to $528,829 in February 2005, which represents a 3.4% drop. Approximately 22 homes sold in February 2006 and 38 in February 2005. The data is mixed for February 2006, as there was a slight increase in the median price and a drop in the average price.
The median price of homes was $505,000 in January 2006, compared to $525,000 in January 2005, which represents a 3.0% drop. The average price of homes in January 2006 was $504,088, compared to $529,351 in January 2005, which represents a 4.4% drop. Approximately 16 homes sold in January 2006 and 37 in January 2005. In summary, there was a downward 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 decreased 30.6% for the period observed from 2006 to 2005. Five out of seven months showed a downward price trend compared to the same period last year with a range of 1.5% to 4.7% decline (January, March, May, June and July 2006). April 2006 demonstrated a slight increase in the median price (2.7%) and a strong increase in the average price (20.8%) compared to the previous year. The data for February 2006 was mixed, as the average price dropped 3.4% and the median priced increased slightly (0.20%). On balance, there is evidence of a downward 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 Mira Mesa./pbr
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