Market News November 25, 2020

Housing Market News: Bay Park, Clairemont, Pacific Beach

By Caroline Abkar, Realtor.

11/25/2020.

One of the questions I am asked the most is how is the market doing? Will the prices drop? Will there be another crash?

I am a firm believer that there is no better answer than dissecting the past, using actual data and statistics to help predict the future.

Here I share the latest statistics for Bay Park, Clairemont and Pacific Beach showing the average sales price trends since 2004. This is as far as the system allows me to go.

There are several other metrics of interest such as days on market and price per square foot too. The Days on market are shown here as well.

This market update covers Bay Park, Clairemont and Pacific Beach but I can pull and analyze for any neighborhood.  Just let me know what you would like to see!

You can hover with your mouse on each data point to see the numbers for any given month.

 

 

Average Sales Price in Bay Park

Average Active Market Time in Bay Park

Average Sales Price in Clairemont
Average Active Market Time in Clairemont 
Average Sales Price in Pacific Beach
Average Active Market Time in Pacific Beach
Remember, there are several other metrics that dictate the data for a given month, such as the number of homes for sale, the type of homes (distressed, condition, size) which is why you will sometimes see spikes in the graphs. For example, if there were only 5 active listings in a given area during a very slow month, and one of those homes was twice the average price, it will absolutely skew the data for that month. Therefore, it’s good to look at rolling data and moreover you should always look at the most granular data possible for your specific home and needs so that you are looking at exactly what you need. The above gives you a general starting point for sure.
I hope you enjoy these housing market and neighborhood trends as much as I do!
Caroline