COMMUNITY INFORMATION
The Mission Hills community is situated in central San Diego County within the state of California. There are approximately 30,866 residents in this Zip code (92103) and 17,368 households. The median age of residents is 39.4 years.
TEMPERATURES
The temperature in Mission Hills is relatively moderate. The warmest time of year occurs in August during which temperatures reach an average high of 73°F. The coldest time of year occurs in December with average temperatures falling to 58° F.
HOME AND REAL ESTATE PRICES
The housing options in Mission Hills include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
· One bedroom townhouse/condominium start in the mid $200,000s.
· Two bedroom townhouse/condominium start in the low $300,000s.
· Three bedroom townhouse/condominium start in the mid $500,000s.
· Two bedroom single-family homes start in the low $400,000s.
· Three bedroom single-family homes start in the mid $500,000s.
· Four bedroom single-family homes start in the low $800,000s.
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 $914,500 in June 2005 to $927,500 in June 2006, which represents a 1.4% increase. Slightly fewer homes sold in June 2006 (11 homes) than in June 2005 (12 homes). The average time to sell a home increased from 71 days in June 2005 to 102 days in June 2006.
The median price of condominiums and townhomes dropped from $450,000 in June 2005 to $425,000 in June 2006, which represents a 5.6% decline. A few more units sold in June 2006 (33 units) than in June 2005 (31 units). However, units took longer to sell in June 2006 (76 days) than in June 2005 (64 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.
www.sdhomedatabase.com
www.pacific-beach-homes.com
www.rereport.com/sdccsd/lall/
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