Price For Single-Family Home Drops to $496,750 in OctoberTuesday, November 11, 2014
The median price for a single-family house in San Diego dipped 3 percent to $496,750 in October from the prior month, according to the Greater San Diego Association of Realtors.
For condos, the median price in October stayed the same as September at $337,500, SDAR said.
Over the full year, the median price of a single family-house increased 5 percent. The median price on condos increased 14 percent, SDAR said.
The number of active listings on the multiple listing service in the county was just below 8,000, or about three months’ worth of inventory. That means it’s still weighted clearly to sellers. A six months’ supply is considered a healthy level, SDAR said.
On average, houses on the market are being sold in 45 days, SDAR said.
While inventory has grown, the most sought after properties sell quickly so buyers need to be prepared to act, said Leslie Kilpatrick, SDAR’s board president.
The most expensive listing sold last month was a six-bedroom, nine-bath, 12,585-square-foot house in Rancho Santa Fe that sold for $6 million.
The highest sale zip codes last month were in North County, led by Oceanside with 50 sales; Fallbrook with 49; and Rancho Bernardo with 45.