San Diego Business Journal

County Median House Price Is $475,000 for October

Monday, November 11, 2013

The median price for a single family house sold in October in San Diego County was $475,000, a 2 percent drop from September, but 19 percent above the median price for October 2012, according to the latest report from the Greater San Diego Association of Realtors.

The median price for resale condos sold here last month fell 3 percent during the past month to $296,000. That was 20 percent above the median price for that segment one year ago, SDAR said.

Single family resale homes rose 9 percent last month to 1,906, while condo sales increased 5 percent to 944.

The number of single family houses and condos for sale leveled off at 7,000 in the county, or about two and half months of inventory, SDAR said. Resale properties are moving an average of 49 days, or about 30 percent faster than they were a year ago.

SDAR President Linda Lee said the latest numbers point to a healthy market. “While we may not see the dramatic sale numbers and price increases of prior months, indications are that 2013 will shape up to be a good year, setting the stage for a more stable housing market in 2014,” she said.

The most expensive property sold in October from the multiple listing service was a four-bedroom, six bath, 4,000 square foot house in Del Mar for $1.87 million, SDAR said.

— SDBJ Staff Report