San Diego Business Journal

April Median Housing Price Increases 8.7% for the Year

By Mike Allen Tuesday, May 13, 2014

San Diego’s median price for a single family house increased to $435,000 in April, up 1.8 percent from the March median priced house, and up 8.7 percent from the median priced house in April 2013, according to Dataquick, the La Jolla based real estate research firm.

Home sales in the county last month were 3,664, down 3.4 percent from April 2013, the report said.

For the six-county Southern California region, the median price for a single family house increased 13.2 percent over the 12 months to $404,000.

Sales in the region increased 13.4 percent from March, but declined 6.6 percent over the year.

Dataquick analyst Andrew LePage said the housing market’s pulse quickened a bit in April. “If inventory grows more, which we consider likely, it’s going to make it a lot easier for sales to reach at least an average level, which we haven’t seen in more than seven years,” he said.

Buyers paying with cash made up about 27 percent of all sales in the region last month, down from nearly 30 percent in March, and down from 34.4 percent in April 2013.