Continuing on with our local market report I wanted to discuss the neighborhood of San Carlos, San Diego. As we mentioned in the previous blog post, San Diego was recently ranked #2 in the country for the largest increase in overall real estate prices (#1 was Phoenix, AZ per Forbes  https://www.forbes.com/sites/palashghosh/2021/05/25/phoenix-seattle-and-san-diego-boast-the-biggest-home-price-increases-among-us-cities-heres-why/?sh=77332d3a4e70).

The San Carlos neighborhood of San Diego (92119) had incredible growth in terms of residential sale prices over a 12 month period.  From the period beginning on 09/01/2020 up until I wrote this blog post on 09/15/2021, San Carlos property values have increased 24% over the same time last year! Here I have it broken down in both sales prices and sale price per square foot.

24% exceeds the entire San Diego region’s 19% gain over the last 12 months.  This speaks to the desirability of the area with great schools, parks, recreation, shopping, freeways, and perfect weather year-round!

Other useful information gained from this period is the average days on market or DOM which is 12 (this is how long a property stays on the market before finding a buyer) with a typical sale price to list price ratio of 1.03 (this means that a property will sell this much above/or below the list price of the home).  A summary of the relevant data we found is in the table below.