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San Diego County Home Sales Drop From Year Ago

Audio

Aired 9/14/10

Home sales in San Diego County have dropped from August 2009 to August of this year.

Home sales in San Diego County have dropped from August 2009 to August of this year.

The San Diego Association of Realtors report for existing homes in the county shows sales down 8 percent from August 2009 and the average sales price down nearly 4 percent.

Mark Marquez, president of the Realtors Association, said the average sales price for homes last month was $262,000.

Marquez said while homes in the entry level have been selling, the sales pace for higher-priced homes was slower in August.

"As you escalate in price point it does soften a little bit, meaning there's more inventory," said Marquez.

In the near term, he expects most of the sales volume to be generated from homes priced at $500,000 or lower.

"Areas like South Bay, Paradise Hills, Encanto, La Mesa, El Cajon," said Marquez. "There's areas where you can still buy condos for $100,000."

Marquez said the median sales price for a San Diego County home has stayed in the $315,000 to $320,000 range for several months.

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