Tuesday, November 18, 2008
The cost of a home in San Diego County plunged nearly 30 percent last month. Real Estate tracking firm Dataquick Information systems says it now costs just over $325,000 for the average home. That's down from $460,000 a year ago. Dataquick's Andrew LaPage says more than half of the sales in the six county Southern California region are foreclosed properties.
LaPage: This recent surge in sales across southern California and the state has been driven by bargain shopping, Mainly inland areas where there's been a lot of price depreciation , then foreclosures."
The lower prices pushed up home sales. LaPage says about 1,500 more houses changed hands last month in San Diego County, than in October 2007.