The number of homes sold in San Diego County jumped 11.4 percent in August from the year before, to 3,764 houses, as home sales across Southern California continued their seven-month stretch of year-over-year growth, according to data from CoreLogic.
The median home price in San Diego gained 4.5 percent, to $465,000. The wider region, including Los Angeles, Orange, Riverside, San Bernardino and Ventura counties, saw similar growth, with a median price of $438,000, an increase of 4.3 percent from last year.
But while home sales are picking up from last year, up 8 percent across Southern California, the region saw a 12 percent drop from July. CoreLogic said the decline was not serious, given June and July sales were the highest in the region for nine years. August’s 21,352 sales were only a two-year high.
"This month-to-month sales decline could be a reflection of a tightening inventory of homes for sale or the impact rising prices have had on affordability,” said Andrew LePage, a CoreLogic research analyst. “But this is only one month, and it follows two months that had the highest home sales since August 2006."