Apr062017

North County San Diego Beach Housing Report: April 2017

San Diego Housing Market Value & Trends Update

Historically, properties in this market sell at a 14.2% premium. Today’s discount is 0.5%. This market is 14.7% undervalued.

Median home price is $528,500, and resale $/SF is $335/SF. Prices rose 6.7% year-over-year.

Monthly cost of ownership is $2,426, and rents average $2,454, making owning $028 per month less costly than renting.

Rents rose 5.3% year-over-year. The current capitalization rate (rent/price) is 4.5%.

Market rating = 10

Carlsbad Housing Market Value & Trends Update

Historically, properties in this market sell at a 38.4% premium. Today’s premium is 12.1%. This market is 26.3% undervalued.

Median home price is $769,700, and resale $/SF is $367/SF. Prices rose 6.3% year-over-year.

Monthly cost of ownership is $3,533, and rents average $3,195, making owning $338 per month more costly than renting.

Rents rose 4.7% year-over-year. The current capitalization rate (rent/price) is 4.0%.

Market rating = 10