Chula Vista, San Diego, Real Estate Market Trends and Community Information, August 2006
Chula Vista, San Diego, Real Estate Market Trends and Community Information, August 2006
COMMUNITY INFORMATION
Chula Vista is situated in the southern region of San Diego County within the disorder of California. There are approximately 194,939 residents in this community and 62,394 households. The median age of residents is 32.89 years.
TEMPERATURE
The temperature in Chula Vista is relatively moderate. The warmest time of year occurs in August during which temperatures reach an mean high of 72°F. The coldest time of year occurs in December with mean temperatures diminishing to 57°F.
HOME AND REAL ESTATE PRICES
The housing options in Chula Vista include single-family homes and properties, condominiums, townhouses, and apartments. The price of housing is as follows:
·One bedroom townhouse/condominium start in the high 0,000s.
·Two bedroom townhouse/condominium start in the high 0,000s.
·Three bedroom townhouse/condominium start in the mid 0,000s.
·Two bedroom single-family homes start in the high 0,000s.
·Three bedroom single-family homes start in the low 0,000s.
·Four bedroom single-family homes start in the high0,000s.
REAL ESTATE MARKET TRENDS
As with most products and services in the United States, price shifts in the real estate diligence are subject to the forces of supply and demand. Whether it’s a buyers market or a seller’s market, it is useful to evaluate home sales data for the most recent month unfilled (June 2006), compared against the same period in the previous year (June 2005).
The median price of single-family homes dropped from 0,000 in June 2005 to 5,000 in June 2006, which represents a 2.5% decline. Fewer more homes sold in June 2006 (127 homes) than in June 2005 (171 homes). The mean time to sell a home increased from 47 days in June 2005 to 66 days in June 2006.
The median price of condominiums and townhomes decreased slightly from 2,250 in June 2005 to 2,000 in June 2006, which represents a .1% decline. Fewer units sold in June 2006 (46 units) than in June 2005 (80 units). The mean time to sell a unit increased from 52 days in June 2005 to 85 days in June 2006.
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time. Therefore, the data must be evaluated over a longer duration to know enduring market trends.