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Home Prices up 15 Percent in First Quarter

SAN DIEGO (CNS) - The median price of single-family homes in San Diego County rose 5 in percent March to $432,000, and the first-quarter median price was up 15 percent compared to the same quarter in 2012.

The median price of condominiums and townhomes rose 14 percent in March to $285,000. Compared to the the first-quarter of 2012, the price was up 30, according to the Greater San Diego Association of Realtors.

The most expensive home listed last month was a 5-bedroom, 6,375-square-foot in La Jolla home that sold for $12 million, according to the group.

Linda Lee, president of the association's board, said she anticipated improving conditions ``with interest rates hovering at historic lows.''

Housing inventory was estimated at 45 days.

Single-family homes were up 39 percent in March compared to February, and were up by 10 percent compared to March 2012.

The following Zip codes had the highest numbers of sales in last month: 92128/Rancho Bernardo, 62; 92028/Fallbrook, 57; 92009/Carlsbad, 53; 91977/Spring Valley,50; 92115/College Grove, 49; and 92065/Ramona, 48.

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