There is a popular phrase within the real estate market that says: All real estate is local. This phrase could not be more true to the San Diego real estate market. When evaluating a large metropolitan area such as San Diego, there can be very different market conditions even between communities that are located very closely to one another.
There are a variety of methods in which to evaluate the condition of a real estate market. One method is to compare the median price of properties at two different points in time. The median price of a property is the point at which half the properties are above the price point, and half the properties are below the price point. Information is generally also provided regarding the percent change in the median price between the two different points of time, which provides one measure of how the market is doing in a particular area.
The median price is just one measure to evaluate the status of a market however. A full evaluation requires the use of multiple metrics such as the change in average price, how long homes are staying on the market, sales to list price ratio, etc., applied over a longer period of time.
Be sure to consult always consult a qualified Realtor before buying or selling real estate in San Diego. They are professionals; therefore they can help you find the best deal in the San Diego community in which you wish to live.