COMMUNITY INFORMATION
Spring Valley is a community situated in the eastern region of San Diego County within the state of California. There are approximately 66,757 residents in these Zip codes (91977, 91978) and 21,065 households. The median age of residents is 32.94 years.
TEMPERATURE
The temperature in Spring Valley is relatively moderate. The warmest time of year occurs in July during which temperatures reach an average high of 75°F. The coldest time of year occurs in December with average temperatures falling to 57°F.
HOME AND REAL ESTATE PRICES
The housing options in Spring Valley include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
- One bedroom townhouse/condominium start in the high $100,000s.
- Two bedroom townhouse/condominium start in the mid $200,000s.
- Three bedroom townhouse/condominium start in the high $200,000s.
- Two bedroom single-family homes start in the mid $300,000s.
- Three bedroom single-family homes start in the mid $300,000s.
- Four bedroom single-family homes start in the mid $400,000s.
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).
The median price of single-family homes in June 2006 was $495,000, which represents a 2.9% drop from the previous year. A total of 42 homes sold in June 2006, which was down 43.2% from the previous year. On average, homes took 73 days to sell.
The median price of condominiums and townhomes in June 2006 was $290,000, which represents a 12.8% drop from the previous year. A total of 11 units sold in June 2006, which was down 65.6% from the previous year. On average, units took 86 days to sell.
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.
The source of the data above is from ReReport.com
http://www.sdhomedatabase.com
