San Diego Business Journal

Median Home Price Is Up 23% From August 2012

Tuesday, September 10, 2013

The median price for a single family house sold in August declined 0.4 percent from July to $483,000, but it was 23 percent above the sales price in August 2012, according to the Greater San Diego Association of Realtors.

For condos, the median priced home last month sold for $310,000 down about 3 percent from July, but up 29 percent from one year ago, the SDAR said.

The number of sales of single family homes declined during the month by 3 percent compared to July; sales of condos and townhomes increased nearly 7 percent from the prior month.

More sellers are entering the market. More than 6,600 houses were for sale in August, but that meant the inventory was sufficient for about two months, the SDAR said. A normal housing market has five to six months of supply.

In August the most active ZIP codes for sales were in Fallbrook where 62 sales were recorded; Rancho Bernardo, with 59; Encinitas, with 57; Poway, with 54; and Carlsbad, with 52.

The most expensive county listing sold last month was in La Jolla where a six-bedroom, seven-bath house sold for $13.8 million, SDAR said.

— SDBJ Staff Report