Q1 Market Review 2016 DEL MAR | SOLANA BEACH
PRESENTED BY
Jennifer and Nancy Anderson
Dear HOMEOWNER It is a pleasure to share with you our 2016 First Quarter Review of the Del Mar and Solana Beach residential real estate markets. Included is an economic update detailing recent employment and real estate trends in San Diego. We have also included some homes we currently have on the market, ones that will be coming in the near future and a list of first quarter off market sales. In recent years technology has played a significant role in connecting home buyers and sellers. As we are convinced this trend will continue, we are always seeking new ways to increase our marketing effectiveness through technology. We are thrilled to share with you two of the latest marketing tools available – Matterport 3D and Virtual Staging. As a mother-daughter team, we are committed to being a resource for the Del Mar & Solana Beach communities, focused on helping homeowners like yourself feel educated and empowered when it comes to local real estate. We are passionate about our profession and always happy to be a resource! If you are considering buying or selling, or know anyone who is, please contact us! We look forward to the opportunity to assist you with your real estate needs. Your neighbors,
Jennifer and Nancy Anderson
CA BRE # 01204280
rate in software jobs over the next year, software is one of San Diego’s most rapidly growing employment sectors. The software power index combines data on the concentration of software developers, employee retention, computer science degrees per capita, computer/ math degree attainment among age 25+, job/wage growth, average wage adjusted for cost of living and Venture Capital dollars per capita compared to the top 50 US metros.
REAL ESTATE
San Diego Economic Update 2016 | Q1
The fact that jobs and per capita income are recovering quickly is a good sign for San Diego’s housing market. In San Diego, as in other regions, the strength of home sales volume depends on jobs recovery. In March 2016 sales of previously owned homes jumped after a lackluster February, according to new housing statistics from the Greater San Diego Association of REALTORS® (SDAR).
Many economists predict that San Diego’s economy will continue outperforming California in 2016, but with a cautionary note that growth may be slowed due to national challenges such as rising interest rates, relatively slow wage growth, and decreasing home affordability.
JOBS AND EMPLOYMENT Annual job growth shows that San Diego’s economy had a positive 2015. San Diego recorded the 8th highest employment growth rate from October 2014 to October 2015 compared to the 25 most populous US metros. The number of jobs in San Diego County has jumped by over 82,000 more jobs in December 2015 than the prerecession high in December 2007. While San Diego’s overall jobs growth is very positive, there is explosive growth in the Professional, Scientific and Technical services (PST) sector of the economy associated with the region’s innovation clusters. Employment in the region’s PST sector grew by 7.3 percent since October 2014.
San Diego ranks #7 overall in the software power index and has the following rankings in specific index categories:
#10
CONCENTRATION
#8 TALENT
#7
PROSPERITY
#4 CAPITAL
Sales of previously owned single-family homes rose 33 percent compared to February, and condominium and townhome sales rose 26 percent. For the first quarter of 2016, home sales are up more than 2 percent compared to the same quarter in 2015. “Spring is an exciting time for the real estate industry in San Diego and, frankly, throughout the country,” said SDAR’s 2016 President Cory Shepard. “The stability of the market should encourage even stronger sales figures, steady appreciation and more buyers looking to be homeowners.” San Diego remains the second most expensive for-sale home market in the U.S., according to National Association of Realtors. Home prices increased in 2015 by about 7.1 percent from the previous year.
This table compares median home prices in the top 5 most populous US metros: RANK METRO PRICE 2015 | Q3 1 San Francisco $809,400
Change from Previous Year 10.79%
2
San Diego
$554,400
7.1%
3
Los Angeles
$506,800
5.2%
4 Boston
$402,800
5.2%
5
$410,500
New York
-0.4%
Data Source: National Association of Realtors
CONCENTRATION OF SOFTWARE DEVELOPERS
EMPLOYEE RETENTION, CS DEGREES PER CAPITA, COMPUTER/ MATH DEGREE ATTAINMENT
JOB GROWTH, WAGE GROWTH, WAGE ADJUSTED FOR COST OF LIVING
VENTURE CAPITAL DOLLARS PER CAPITA
In addition, San Diego’s software development sector impacts more than 100,000 jobs in the regional economy. With employers anticipating 18.1 percent growth
Good news is that San Diego’s high home prices continue to find fuel, not from speculators as in 2012-2014, but from increased buyer purchasing power. Home prices are on their way back to pre-recession values. In conclusion: San Diego’s economy is being driven by continued job growth. “When job growth is strong, that means that more people have income to spend, and that spending will boost the rest of the economy,” said Alan Gin, an associate professor of economics at University of San Diego’s School of Business.
www.AndersonCoastal.com
looking at DEL MAR Q1 HOMES SOLD
7 ,8 57 ,1 49 015 $ 2
$7
1 ,4 62 ,2 50 016 $ 2
2015 Q1 Highest Sale 4BD/3.5BA 2,611 SQFT
SALES VOLUME
39 $97,680,233
0
$
Average Sales Price
40
Average Price Average Days Per SQFT On Market
Buying a Home in 2016
33
67 4
Home Sales by Type Detached Homes Sold: 25 Attached Homes Sold : 10 Other Sales: 2
HOMES SOLD
,1 38
25 2016 Q1 Lowest Sale 2BD/2BA 804 SQFT
Financing: 33% = $32,141,000 Cash: 67% = $65,539,233 Other: 0%
Home Sales by Type
10
$338K
2BD/2BA 1,164 SQFT
$401K
2015 Q1 Lowest Sale
10
Financing: 51% = $27,678,353 Cash: 47% = $25,822,000 Other: 2% = $975,000
$5.45MIL
2 25
2016 Q1
Buying a Home in 2015
47
51
54
Average Price Average Days Per SQFT On Market
2
*Days on market.
37 $55,447,353
04
Average Sales Price
SALES VOLUME
Detached Homes Sold: 25 Attached Homes Sold : 10 Other Sales: 4
2016 Q1 Highest Sale 2BD/4BA 1,660 SQFT
$13MIL
2015 Q1
All information is deemed reliable but not guaranteed. Data from SANDICOR, Inc. for 1/1/16 through 3/31/16 and 1/1/15 through 3/31/15, and represents properties listed or sold by various brokers. Del Mar sales data represents properties sold between Via De La Valle, Carmel Valley Road, and West of the I5.If your property is currently listed, this is not meant as a solicitation.
looking at SOLANA BEACH Q1
8 ,2 25 ,1 39 015 $ 2
29 $40,375,484
35
$7
Average Sales Price
42
Average Price Average Days Per SQFT On Market
3
2016 Q1
Financing: 65% = $26,220,484 Cash: 32% = $12,801,000 Other: 3% = $1,354,000
32
7
2 ,1 42 ,1 29 016 $ 2
1BD/1BA 860 SQFT
2015 Q1 Highest Sale 3BD/4BA 3,011 SQFT
$2.75MIL
2015 Q1 Lowest Sale
$378K
19
7
Buying a Home in 2016
1
2016 Q1 Lowest Sale 1BD/1BA 860 SQFT
All information is deemed reliable but not guaranteed. Data from SANDICOR, Inc. for 1/1/16 through 3/31/16 and 1/1/15 through 3/31/15, and represents properties listed or sold by various brokers. Solana Beach sales data represents properties sold between Via De La Valle, The San Elijo Lagoon, and West of the I5. If your property is currently listed, this is not meant as a solicitation.
Financing: 53% = $19,671,250 Cash: 37% = $14,025,000 Other: 10% = $3,755,000
37
16
37
Average Price Average Days Per SQFT On Market
10 53
SALES VOLUME
29 $37,451,250
4 $7
Average Sales Price
Home Sales by Type Detached Homes Sold: 7 Attached Homes Sold : 19 Other Sales: 3
HOMES SOLD
Buying a Home in 2015
65
3
SALES VOLUME
Home Sales by Type
12
Detached Homes Sold: 16 Attached Homes Sold : 12 Other Sales: 1
2016 Q1 Highest Sale 3BD/2BA 1,400 SQFT
$3.2MIL
HOMES SOLD
$400K
2015 Q1
www.AndersonCoastal.com
2016 Q1 Anderson Coastal Notable Properties ACTIVE
444 Pine Needles Drive
14074 Mercado Drive
4 Bed | 3.5 Bath | 3,276 SQFT | 14,100 SQFT Lot | $2,600,000
4 Bed | 3 Bath | 3,500 SQFT | 7,200 SQFT Lot | $2,099,000
COMING SOON 14286 Recuerdo Drive
132 Ocean View Avenue
5 Bed + Office | 3.5 Bath | 3,692 SQFT Call for more information!
2016 Q1 Off Market Sales* DEL MAR
Total Volume = $50,732,071 • 4th St • Coast Blvd • Mango Dr • Ruette Le Parc (2) • 7th St • El Amigo Rd • Rancho Reposo
• Boquita Dr • Del Mar Heights Rd (2) • Via Aprilia • Caminito Carmel (2) • Caminito Daniella • Caminito Pointe Del Mar • Caminito Torreblanca
5 Bed | 2 Bath + 2 Half Bath | 3,236 SQFT Call for more information!
SOLANA BEACH
Total Volume = $13,220,500 • Cordero Rd • Crest Rd • Highland Ave • La Amatista • Ocean Front • Pine Needles Dr
• Highland Dr (2) • S Helix Ave • S Sierra Ave • Bay Meadows Way (2) • Camino De Clara
• Canyon Dr • Pacific Ave • Poco Lago • Via De La Valle • Loma Corta Dr
*Off market sales indicated are from 1/1/16 through 3/31/2016, and represents properties sold by various brokers or individuals.
OVERVIEW
WALK THROUGH
Introducing the latest marketing technologies we provide our clients... The Matterport 3D Showcase is the most realistic way to experience a property online. In contrast to looking at one-dimensional photos, this tool enables users to move through a home and take in all the angles of the rooms, giving a real sense of how the space feels. Additionally, there is the capability to create a “remove the roof – dollhouse view” so users can view an actual complete floor plan of the home. Virtual staging is a phenomenal marketing tool that digitally places furnishings and decor into photos of vacant rooms. It’s a proven fact that staging a home positively impacts the sales price, but staging a home completely can be costly. Virtual staging provides valuable visual suggestions to buyers for room furnishing possibilities. It is the perfect way to complement a partially-staged home while being cost effective. We have found Matterport 3D and Virtual Staging to be powerful technology tools to connect home buyers and sellers.
www.AndersonCoastal.com
CA BRE # 01204280
Jennifer and Nancy of Anderson Coastal Properties did an amazing job selling our home in Del Mar. These ladies epitomize professionalism and extraordinary customer service. We chose Anderson Coastal because of their exceptional marketing strategies, knowledge of the market, and their ability to negotiate the best price for our home. Jennifer and Nancy were in constant communication with us before, during, and after the time our house was on the market. Selling your home is a stressful time for anyone, but Team Anderson made sure we were always informed, aware, and comfortable with their efforts.
– David and Shana | 751 Hoska
We believe in providing an unparalleled comprehensive residential transaction experience for home buyers and sellers throughout Del Mar and Solana Beach. We are passionate about our profession – we love using our negotiation skills and marketing expertise to help you succeed. We are grateful for our clients.
CONSIDERING BUYING OR SELLING? We would be thrilled to help! Contact us at 858.524.3077 to learn about • Our Negotiation Strategies • Our Design/Spacial Consultation • Our Strategic Marketing Plan
• Our Virtual Staging • Our 3D Virtual Floor Plans and Tours • How We Will Help You Achieve Your Real Estate Goals
Jennifer Anderson | Nancy Anderson CA BRE# 01885540 | CA BRE# 01963802
858.524.3077
Jennifer@AndersonCoastal.com 1424 Camino Del Mar | Del Mar 92014
www.AndersonCoastal.com
All information is deemed reliable but not guaranteed. Data from SANDICOR, Inc. for 1/1/16 through 3/31/16 and 1/1/15 through 3/31/15 and represents properties listed or sold by various brokers. If your property is currently listed this is not meant as a solicitation.