The San Carlos region is located in eastern San Diego County, California. The community is located off Interstate 8 and just east of highway 125.
The real estate and homes for sale in San Carlos fall into the moderate-income category. The number of homes sold in a particular year is in the mid-range for the region. For example, during the period from January through July 2006, approximately 84 single-family homes were sold. Approximately 105 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 $550,000, compared to $615,000 in July 2005, which represents a 10.6% drop. The average price of homes in July 2006 was $557,750, compared to $620,382 in July 2005, which represents a 10.1% drop. Approximately 14 homes were sold in July 2006 and 17 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 $563,000, compared to $550,000 in June 2005, which represents a 2.4% increase. The average price of homes in June 2006 was $559,792, compared to $567,750 in June 2005, which represents a 1.3% drop. Approximately 12 homes were sold in June 2006 and 16 in June 2005. The data was mixed for June 2006, as the median price increased 2.4% and the average price decreased 1.3%.
The median price of homes in May 2006 was $580,000, compared to $540,000 in May 2005, which represents a 7.4% increase. The average price of homes in May 2006 was $584,000, compared to $546,962 in May 2005, which represents a 6.8%increase. Approximately 15 homes were sold in May 2006 and 13 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 $605,000, compared to $575,000 in April 2005, which represents a 13.1% increase. The average price of homes in April 2006 was $596,962, compared to $563,811 in April 2005, which represents a 6.9% increase. Approximately 13 homes were 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 $544,500, compared to $589,950 in March 2005, which represents a 9.3% drop. The average price of homes in March 2006 was $544,028, compared to $584,650 in March 2005, which represents an 8% drop. Approximately 18 homes were sold in March 2006 and 16 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 $605,000, compared to $500,000 in February 2005, which represents a 21% increase. The average price of homes in February 2006 was $594,750, compared to $515,125 in February 2005, which represents a 14% increase. Approximately 8 homes were sold in February 2006 and 12 in February 2005. In summary, there was an upward price trend in February 2006 compared to the same period last year.
The median price of homes was $510,000 in January 2006, compared to $563,750 in January 2005, which represents a 9.5% drop. The average price of homes in January 2006 was $533,750, compared to $567,875 in January 2005, which represents a 6% drop. Approximately 4 homes were sold in January 2006 and 12 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 above data tell us? Overall, there was a 20% decline in the number of homes sold from 2005 to 2006. Besides that, no clear patterns emerged. Three of seven months (January, March and July 2006) had reductions in the median and average price compared to the same period last year (range ?6% to ?10.6%). In contrast, three months (February, April and May 2006) had increases in the median and average price (range 6.8% to 21%). The data for June 2006 was mixed, as the average price declined by -1.3%, and the median price increased by 2.4%. A longer period of evaluation is needed to determine if enduring price patterns emerge.
Be sure to consult your Realtor on other factors that influence home pricing before buying or selling real estate in San Carlos, San Diego.
