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S.D. Home Sales Down, But Prices Up 13% Compared To February 2009

Home sales in San Diego County were down slightly in February, compared with the same month in 2009, but home prices increased 13 percent during the same period, a real estate information service reported today.

A total of 2,465 homes sold in San Diego County last month, compared to 2,473 in February 2009, according to La Jolla-based MDA DataQuick. The median price of a home in San Diego County last month was $322,000, up from $305,000 in January and $285,000 in February of last year.

According to MDA DataQuick, home sales in Southern California in February were above year-ago levels for the 20th consecutive month as buyers took advantage of bargains and tax incentives.

"It's possible the stars won't line up this way again for many years," said John Walsh, president of MDA DataQuick. "With prices and mortgage interest rates this low, the cost of ownership is about as low as we've seen it in decades."

A total of 15,359 homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in February, virtually unchanged from the 15,361 sold the previous month and up .8 percent from the 15,231 sold in February 2009.

The median price of a Southern California home was $275,000 last month, up 1.3 percent from $271,500 in January, and up 10 percent from $250,000 for February 2009, according to MDA DataQuick.

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