Paradise Hills, San Diego, Real Estate Market Trends And Community Information, August 2006
Author: Real Estate Pros
Source: articledashboard.com
COMMUNITY INFORMATION
The community of Paradise Hills is situated in south San Diego County within the state of California. There are approximately 37,272 residents in this Zip code (92139) and 10,401 households. The median age of residents is 31.3.years.
TEMPERATURE
The temperature in Paradise Hills is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 72ฐF. The coldest time of year occurs in December with average temperatures falling to 57ฐ F.
HOME AND REAL ESTATE PRICES
The housing options in Paradise Hills include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
ท One bedroom townhouse/condominium start in the mid $200,000s.
ท Two bedroom townhouse/condominium start in the high $200,000s.
ท Three bedroom townhouse/condominium start in the mid $300,000s.
ท Three bedroom single-family homes start in the high $300,000s.
ท 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 jumped from $484,500 in June 2005 to $507,500 in June 2006, which represents a 4.7% increase. Fewer homes sold in June 2006 (8 homes) than in June 2005 (16 homes). The average time to sell a home increased from 56 days in June 2005 to 76 days in June 2006.
The median price of condominiums and townhomes jumped from $342,500 in June 2005 to $387,500 in June 2006, which represents a 13.1% increase. More units sold in June 2006 (10 units) than in June 2005 (8 units). Units sold a little slower in June 2006 (56 days) than in June 2005 (55 days).
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.