Bonita, San Diego, Real Estate Market

April 6, 2009 by  
Filed under Investing

Southern California Real Estate

COMMUNITY INFORMATION

Bonita is located in California, within San Diego County’ s southern region. This community has about 18,396 residents, and 5,986 homes. Most residents here are around the age of 40.

TEMPERATURE

Temperature in Bonita is moderate, making it a very comfortable place to live. The weather is warmest during July, when temperatures reach an average high of 70°F. January is the coolest month, as temperatures drop to an average of 57° F

HOME AND REAL ESTATE PRICES

There is a great assortment of real estate, ranging from condominiums to townhouses, single-family homes and apartments. If looking for a one bedroom townhouse, or condominium, the prices start in the mid $200,000s. Two or three bedroom townhouses and condominiums start in the low $300,000s to $400,000s, respectively.

The prices of single family homes start much higher. A two bedroom, single family home starts in the high $400,00s, while a four bedroom single-family home may start in the low $600,00s. If looking for something in the middle, a three bedroom single-family home starts in the mid $500,000s.

REAL ESTATE MARKET TRENDS

Like most other markets in the United States, supply and demand are the driving forces of prices in real estate. Whether its a buyers markets or a sellers market, it is helpful to analyze home salves date for the most recent month available (ex. June 2006), compared against the same period the year before (June 2005).

The average price of single-family homes experienced a 7.9% decline, dropping from $849,990 in June 2005 to $782,500 in June 2006. Trends followed this price shift as more homes were sold in June 2006 (20 homes), than in June 2005 (7 homes). The average time it took to sell a home increased from 68 days (June 2005) to 69 days (June 2006).Over the past 12 months, the ratio between asking prices to sales prices increased. In June 2005, sellers obtained 93.6% of their asking prices, and in June 2006, 94.5% of their asking prices.

It is important to keep in mind that the data above is a snapshot in time. To understand enduring market trends, date must be evaluated over a longer period of time.

Comments

Comments are closed.