Chula Vista, San Diego, Real Estate Market
October 30, 2008 by admin
Filed under Real Estate
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COMMUNITY INFORMATION
Chula Vista is located in San Diego County’
s southern region in California state. Within this community, there is approximately 194,939 residents living in 62,394 households, with the average age being 32.89 years.
TEMPERATURE
The temperature in Chula Vista is comfortable, with the summer highs reaching 72°F in August. The winter chills often hit during December with average temperatures falling to 57°F.
HOME AND REAL ESTATE PRICES
The housing options in Chula Vista are varied, with condominiums, townhouses and apartments. One bedroom townhouses and condominiums beginning in the high $100,000s. Two bedroom townhouses start in the high $200,000s, and three bedroom townhouses and condominiums starting in the mid $300,00s. Two bedroom single family houses start in the high $300,000s, while three and four bedroom homes start in the low and high $400,000s, respectively.
REAL ESTATE MARKET TRENDS
Price shifts in this market are results of supply and demand. Evaluating home data is important for buyers and sellers. It is important to look at data in the most recent month available, (June 2006), compared to data in the same period in the previous year (June 2005).
The average price of single-family homes experienced a 2.5% decline, as the prices dropped from $610,000 in June 2005, to $595,000 in 2006. Homes sold dropped from 171 in 2005, to 127 in 2006. The average time to sell a home increased, as it went from 47 days to 66 days.
The average prices of condominiums and townhouses decreased only by 1%, dropping from $382,250 to $382,000. 80 unites were sold in June 2005, but the number dropped to 46 in 2006. The average time to sell a unit increased from 52 days to 85 days.
This is only a small period of time, and to get more accurate results and trends, it is advised that the statistics be analyzed over a longer period.