Tuesday, July 17, 2012
SAN DIEGO The average price of a Southern California home hit the $300,000 mark last month, the highest it has been in two years. DataQuick tracks real estate transactions in the six county region.
Home sales jumped by more than nine percent in San Diego County last month. Observers say the increase is good news, but sales remain below average for this time of year.
The company said the value of homes ticked up and the number of homes changing hands increased, but the housing market is far from recovered.
"Some of these price increases that we see, at least in the median price, reflect changes in the types of homes selling. What you really conclude is that the market is still fairly flat across the board in terms of pricing." said DataQuick's Andrew LaPage.
Fewer than half of all homes changing hands last month we distressed sales, according to LaPage. Those sales are homes involved in the foreclosure process or short sales. That's down from nearly 60 percent a year ago.