San Diego’s median price on previously owned houses increased 9 percent in 2014, not as dramatic as the 20 percent jump in 2013, but more sustainable and realistic, according to the Greater San Diego Association of Realtors.
The median price on single-family houses rose to $495,000, while the median price on condos increased over the year to $325,000, SDAR said.
Board President Chris Anderson said she thinks more houses will be put up for sale this year and home values will continue to rise.
“Interest rates are expected to increase slightly this year," Anderson said. "That should boost inventory levels and drive sales.”
In December, the areas with the greatest residential sales were in Oceanside, with 49; Encanto, with 43; and Rancho Bernardo and Fallbrook, each with 42.
The most expensive listing sold in the county last month was a three-bedroom, three-bath house in Solana Beach for $8.75 million.