As reported by the California Association of Realtors less expensive inventory generally saw big jumps in median price from 2009 to 2010, but dipped in sales, while high priced homes were HOT sales but fell in median price. Although I personally view the real estate market as very dynamic in 2011, we should see aggressive sales in the higher priced homes over $1 million, which as reported in Rancho Santa Fe and Solana Beach were hot zones because sellers gave in and reduced their asking price, and buyers were eager to now capitalize on the reductions.
While Rancho Santa Fe's single family median price dropped 11% in 2010 from 2009; Solana Beach single family median price slipped 2.2% from $1,329,000 in 2009 to $1,300,000 in 2010, all the while the number of resale houses rose from 136 to 205.
Oceanside, Carlsbad and Encinitas all saw slight increases in median home sales from 2009 to 2010 of up to 9% in some cases.
I would be pleased to provide a study of your particular zip code or market area.
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I would be pleased to learn what you have to say...thanks