As of April 10, 2011 there has been a total of 69 single family detached homes that have sold, and actually closed escrow in Point Loma and Ocean Beach since January this year. Of those sales here are the numbers for the two different communities.
Point Loma had 45 sales with a price range from $340,000 to $4,500,000. The average price per sq. foot was $404.61 with an average of 85 days on the market.
Ocean Beach had 24 sales with a price range from $293,500 to $1,875,000. The average price per sq. foot was $408.87 with an average of 60 days on the market.
What does all this mean? Well, since my last publication of this information on February 27, 2011 we have seen the price per square foot drop slightly as the activity has picked up heading into the Spring and Summer months. The average in February was $431.00 per sq. foot, and as of today the average is $406.74. Have home prices in Point Loma & Ocean Beach declined in the last few months? The numbers tell the truth, but there are many more factors involved to determine a more accurate value for each individual property. Overall more activity is good, and eventually we will start to see the price per sq. foot value follow the market activity.
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