This edition of my CorteBellaHomes.net Quarterly Review marks my return to the Blogsphere after a necessary pause. While previously I posted my Corte Bella review on a monthly basis, beginning with 2024, I am changing to a quarterly review. You will receive an email when each quarterly review is available. There will be a link in that email for you to click which will take you directly to the post. Easy-Peasy.
2024 First Quarter (Q1) Stats:
19 Sales
o 13014 W El Sueno Ct. Bellita $375,000
o 13813 W Junipero Dr. Arcada $449,000
o 22218 N Arrellaga Dr. Arcada $450,000
o 12947 W Rincon Dr. Arcada $455,000
o 21819 N Las Positas Ct. Cambria $501,000
o 13430 W Nogales Dr. Cambria $505,000
o 23213 N Hank Raymond Blvd. San Ysidro $515,000
o 13419 W San Pablo Dr. San Marco $522,500
o 12838 W La Vina Dr. Encanto $525,000
o 13420 W Junipero Dr. Montecito (Casita) $550,000
o 22717 N Las Positas Dr. San Ysidro $550,000
o 13409 W Micheltorena Dr. San Marco $551,000
o 22208 N Montecito Dr Arcada (Pool) $555,000
o 22704 N Los Gatos Dr. San Marco (Pool; GC Lot) $555,000
o 23221 N Cardenas Dr. San Ysidro (Pool) $560,000
o 22909 N Giovota Dr. San Ysidro (Pool) $565,000
o 23316 N Las Alturas Dr. San Marco (Casita) $575,000
o 13243 W Panchita Dr. Encanto (Expanded) $589,000
o 22107 N Las Alturas Dr. San Marco (Casita) $575,000
o 22927 N Giovota Dr. San Ysidro (GC Lot) $600,000
o 12828 W El Sueno Dr. San Marco (Pool; GC Lot) $612,000
o 23138 N Gaviota Dr. Mirada $614,000
o 22704 N Arrellaga Dr. San Marco (Pool; GC Lot) $640,000
o 13225 W Cabrillo Dr. San Marco (Pool; GC Lot) $650,000
o 12911 W Santa Ynez Dr. Encanto $670,000
o 12926 W San Pablo Dr. Encanto $680,000
o 23227 N Calle Real Dr. Alameda (Pool) $710,000
o 23215 N Cardenas Dr. Mirada (Casita) $715,000
o 22310 N Pedregosa Dr. Encanto (Casita; GC Lot) $725,000
o 23206 N Del Monte Dr. Cambria (GC Lot) $849,000
o 23133 N Padaro Ct. Granada (GC Lot) $950,000
2024 Q1 Averages
$11,341,500/19 = $596,921 Avg Sales Price (“ASP”)
$11,341,500/38,485/sf = $294.70 Avg Sales Price psf (“ASP/psf”)
2023 Q1 Averages
$15,757,400/27 = $583,607 ASP
$15,757,400/55,546 = $283.68 ASP/psf
2020 - 2023 Q1 Sales
2023 Q1 = 27 sales.
2022 Q1 = 31 sales.
2021 Q1 = 36 sales.
2020 Q1 = 32 sales.
First Quarter (“Q1”) 2024, was nothing to write home about. In ice cream terms, it was definitely Vanilla and not even French Vanilla. Just plain old boring Vanilla. Prices for Q1 2024 were up over Q1 2023 by about 2%. Q1 2024 sales volume was down by a precipitous 42% from Q1 2023 sales volume. Q1 2024 ASP was up 2% but volume was down by 42% over 2023. Those numbers are a sales agent’s worst nightmare.
New construction homes are grabbing sales as builders are offering substantial incentives to offset the high mortgage rates. That fact plus high mortgage rates are causing wholesale price reductions in Corte Bella. I have a listing now which is a beautiful Mirada (2,559/sf) and the list price has just now dropped below $600,000. Someone will get a tremendous buy. And that is the case throughout Corte Bella. I think prices will experience one more reduction soon at which point I believe process will stabilize until mortgage rates come down to the high 5% to low 6% range. Until then, upsizing or purchasing a CB homes as an investment property might make sense for you.
I am a Corte Bella resident, former CB HOA Board member, semi-retired California real estate attorney, and HomeSmart sales agent exclusively serving Corte Bella. If you are thinking of buying or selling or just have question about the Corte Bella housing market. I urge you to call or email me. We can sit down and have a conversation about your plans, or I can answer your questions.
Next update will be available first or second week of July.
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