San Diego coastal homes lead rise in California real estate recovery
By Cher Conner
GOP frontrunner Mitt Romney is perhaps the most famous individual to take refuge in a San Diego coastal home – but he is hardly alone in his enthusiasm for seaside California real estate. Like Romney, many people choose Southern California as a premier destination for retirement and vacation homes; and now, according to the latest numbers as reported by CBS News, such homes are a prime force behind rising real estate prices throughout the state.
As noted in a previous column, the median home price in California rose to around $250,000 this spring. In addition, the median Southern California home price increased to $290,000, signifying the first annual increase in the region since December 2010. Together with Los Angeles, Orange and Ventura counties, San Diego County experienced the greatest boost in home prices. The region’s four coastal counties accounted for 71.5% of local sales in April 2012 – an improvement due in part to refreshed performance in the luxury market.
According to the latest First Republic Prestige Home Index, San Diego area home values increased 0.4% from the fourth quarter, landing the average luxury home price in the area at $1.65 million. Industry experts predict a continued rise in high-end home prices throughout San Diego – but also note that, for the time being, available inventory still exceeds demand. This means that, for buyers looking to land their own small slice of paradise along the Southern California coast, now is the time to buy before prices really pick up down the road. From modest seaside homes to luxury retreats like Romney’s famous La Jolla retreat, buyers need only seek the help of an experienced real estate agent to capitalize on the diverse range of homes for sale and find the property of their dreams.
Expert advice from a proven local agent
With over 30 years in the real estate industry here in San Diego and a top 10% ranking among realtors nationwide, I represent the best available service for buyers and sellers in La Jolla and throughout the county. At Cher Conner & Associates, we pride ourselves on sophisticated marketing and unparalleled customer service: and when you enlist our help to buy or sell a home in San Diego, we will dedicate our full resources to achieving your goals.
Experience the best in personalized attention and proven market expertise: contact us today to schedule a consultation. For more information, visit us online: www.realestateinlajolla.com.
- Low mortgage interest rates leave La Jolla homebuyers in prime position
- Renting vs. buying a home: why now is the time for San Diegans to purchase real estate
- Median California home values make long-awaited spring gains
- To sell, or not to sell? An introductory guide to selling versus renting out your home in today’s real estate market
- Financial turmoil prompts wealthy investors to seek cover in the form of “catastrophe portfolios”
Short URL: http://www.lajollalight.com/?p=88013