Aug 08, 2011 Real Estate property in Carlton Oaks Santee CAGeneral Real EstateUpdated on Aug 9, 2011 View more like this | Visit SANTEE, CA | Contact Century 21 Award |
Welcome to the Real Estate property in Carlton Oaks Santee CA market report for the 2 weeks ending August 8, 2011. As I write, the stock market is in chaos dropping over 1000 points from Friday August 5th and Monday August 8th trading.
Carlton Oaks Santee real estate is feeling the full effects of the national financial crisis. I have supplied a graphic with this blog that looks at 2 key figures. The black line represents the median price of a home that sold in Santee. The orange line tracks the cost per square foot. How these 2 lines work together tells us a lot about the market in Carlton Oaks real estate market.
First, let us examine the median price per home sold in Santee. As you can see from the graph home prices reached their lowest point this past spring; levels that are reminiscent of the burst in 2009. There was a slight increase in price during May and June but since then the price drop has restarted. Currently the median price for Santee real estate is just over $320,000.
The orange line representing the price per square foot is very interesting. This measurement reached it’s highest point in September 2010 hitting the median price per square foot of $225. Since then, over the past 9 months, the price has steadily dropped to the current average of $211. The interesting part is the time period of April 2011 to July 2011. Notice that the median price increased while at the same time the square foot continued dropping. There are 2 factors that contributed to this unusual crossover. First, larger homes are selling (increasing the median) but are selling for less (dropping square foot.) Second, the number of Condo’s selling could have dropped off thus pushing up the median sell price in the midst of the square footage drop. Truth is, both probably played a role in the crossover.
One of the ways we look at homes is by quartiles. This is simply dividing the number of homes in a market by 4. So, if there were 100 homes listed then we would have 4 quartiles of 25 homes each. This is based off the median selling price. So, the top tier would be the 25% of homes that sold for the most. Looking at my data I see that the top tier homes (averaging 2127 square feet) are selling for $199 per square foot. This further backs up that the median price could be going up and the square footage is dropping. The second and third tiers are the strong tiers at $209 and $216 respectively. The lowest performing is the fourth tier with the median square foot price of $197.
Now it is time to examine the Carlton Oaks real estate market specifically. In the proceeding 2 weeks we have had 3 homes complete the sale process and at the same time 3 new homes were added to the MLS. In truth we would like to see sales outpace new listings in order to begin to use up the shadow inventory and provide more stability to the real estate market in Santee. In the Multiple Listing Service (MLS) we currently have 15 homes in active status in Carlton Oaks. At the same time we have 9 homes pending (in the 30-45 days escrow process) and 12 homes at contingent status waiting for the banks to decide to accept the short sale offer.
Looking for houses it can be a challenge. What is there was a search engine that took the search to new levels. Of course you can look for homes search on criteria like 4 bedroom home or 3 bedroom house.
You can now search by special criteria like luxury properties, private pool properties, foreclosed homes, short sale homes, gated communities, or affordable homes. Isn't that great. What's more, you can search for homes like 1 story homes in Santee, 2 story houses Carlton Oaks real estate, single family residences, or condo/townhomes in Santee real estate. SearchSanDiegoCommunities has all the house stats plus lots of pictures of the homes for sale. Under this blog I have a link to the site; check it out. You will be glad you did.
Real Estate property in Carlton Oaks Santee CA Activity
Week ending July 31, 2011:
New Listing $239,000 92 Via Sovana 2 Bedrooms, Status: Active
New Listing $289,900 9234 Pine Valley Dr 3 Bedrooms, Status: Active
Price Change. $310,000 9129 Willowgrove Ave 3 Bedrooms, Status: Contingent
Price Reduced! $299,000 9470 Medina Dr 4 Bedrooms, Status: Active
Status Change $295,500 9315 Heiting Ct 3 Bedrooms, Status: Contingent
Week ending August 7, 2011:
Status Change $285,000 8536 Rumson Dr, 3 Bedrooms, Status: Active.
Status Change $279,000 99 Via Sovana, 3 Bedrooms, Status: Contingent.
Status Change $273,500 8555 Rumson Dr, 2 Bedrooms, Status: Contingent.
Status Change $284,900 9357 HEITING Ct, 3 Bedrooms, Status: Pending.
Status Change $329,900 9309 LETICIA Dr, 3 Bedrooms, Status: Pending.
Status Change $169,900 9254 Carlton Oaks Dr, 2 Bedrooms, Status: Expired.
Price Reduced! $319,000 9470 Medina Dr, 4 Bedrooms, Status: Active.
Price Reduced! $184,500 9307 W Heaney Cir, 2 Bedrooms, Status: Active.
New Listing $229,900 9336 Carlton Hills Blvd, 3 Bedrooms, Status: Active.
Carlton Oaks Santee real estate is feeling the full effects of the national financial crisis. I have supplied a graphic with this blog that looks at 2 key figures. The black line represents the median price of a home that sold in Santee. The orange line tracks the cost per square foot. How these 2 lines work together tells us a lot about the market in Carlton Oaks real estate market.
First, let us examine the median price per home sold in Santee. As you can see from the graph home prices reached their lowest point this past spring; levels that are reminiscent of the burst in 2009. There was a slight increase in price during May and June but since then the price drop has restarted. Currently the median price for Santee real estate is just over $320,000.
The orange line representing the price per square foot is very interesting. This measurement reached it’s highest point in September 2010 hitting the median price per square foot of $225. Since then, over the past 9 months, the price has steadily dropped to the current average of $211. The interesting part is the time period of April 2011 to July 2011. Notice that the median price increased while at the same time the square foot continued dropping. There are 2 factors that contributed to this unusual crossover. First, larger homes are selling (increasing the median) but are selling for less (dropping square foot.) Second, the number of Condo’s selling could have dropped off thus pushing up the median sell price in the midst of the square footage drop. Truth is, both probably played a role in the crossover.
One of the ways we look at homes is by quartiles. This is simply dividing the number of homes in a market by 4. So, if there were 100 homes listed then we would have 4 quartiles of 25 homes each. This is based off the median selling price. So, the top tier would be the 25% of homes that sold for the most. Looking at my data I see that the top tier homes (averaging 2127 square feet) are selling for $199 per square foot. This further backs up that the median price could be going up and the square footage is dropping. The second and third tiers are the strong tiers at $209 and $216 respectively. The lowest performing is the fourth tier with the median square foot price of $197.
Now it is time to examine the Carlton Oaks real estate market specifically. In the proceeding 2 weeks we have had 3 homes complete the sale process and at the same time 3 new homes were added to the MLS. In truth we would like to see sales outpace new listings in order to begin to use up the shadow inventory and provide more stability to the real estate market in Santee. In the Multiple Listing Service (MLS) we currently have 15 homes in active status in Carlton Oaks. At the same time we have 9 homes pending (in the 30-45 days escrow process) and 12 homes at contingent status waiting for the banks to decide to accept the short sale offer.
Looking for houses it can be a challenge. What is there was a search engine that took the search to new levels. Of course you can look for homes search on criteria like 4 bedroom home or 3 bedroom house.
You can now search by special criteria like luxury properties, private pool properties, foreclosed homes, short sale homes, gated communities, or affordable homes. Isn't that great. What's more, you can search for homes like 1 story homes in Santee, 2 story houses Carlton Oaks real estate, single family residences, or condo/townhomes in Santee real estate. SearchSanDiegoCommunities has all the house stats plus lots of pictures of the homes for sale. Under this blog I have a link to the site; check it out. You will be glad you did.
Real Estate property in Carlton Oaks Santee CA Activity
Week ending July 31, 2011:
New Listing $239,000 92 Via Sovana 2 Bedrooms, Status: Active
New Listing $289,900 9234 Pine Valley Dr 3 Bedrooms, Status: Active
Price Change. $310,000 9129 Willowgrove Ave 3 Bedrooms, Status: Contingent
Price Reduced! $299,000 9470 Medina Dr 4 Bedrooms, Status: Active
Status Change $295,500 9315 Heiting Ct 3 Bedrooms, Status: Contingent
Week ending August 7, 2011:
Status Change $285,000 8536 Rumson Dr, 3 Bedrooms, Status: Active.
Status Change $279,000 99 Via Sovana, 3 Bedrooms, Status: Contingent.
Status Change $273,500 8555 Rumson Dr, 2 Bedrooms, Status: Contingent.
Status Change $284,900 9357 HEITING Ct, 3 Bedrooms, Status: Pending.
Status Change $329,900 9309 LETICIA Dr, 3 Bedrooms, Status: Pending.
Status Change $169,900 9254 Carlton Oaks Dr, 2 Bedrooms, Status: Expired.
Price Reduced! $319,000 9470 Medina Dr, 4 Bedrooms, Status: Active.
Price Reduced! $184,500 9307 W Heaney Cir, 2 Bedrooms, Status: Active.
New Listing $229,900 9336 Carlton Hills Blvd, 3 Bedrooms, Status: Active.
Aug 08, 2011 Real Estate property in Carlton Oaks Santee CA
Santee, CA 92071
