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San Diego Home Prices Continue to Drop

Tuesday, November 18, 2008

By Erik Anderson and KPBS Public Broadcasting

Audio

Aired 4/19/09

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. 

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