Home Prices Hold Steady But Sales Are Down
Monday, February 10, 2014
Aired 2/10/14 on KPBS News.
Home prices in January lost no ground in San Diego home but fewer homes are changing hands.
January 2014 Housing Stats
The median price of a single-family home stayed about the same from December to January, even though fewer San Diego homes were changing hands.
The San Diego Association of Realtors says the median price of a previously owned single family home in the county hovered at $475,000.
The median price for condos and town homes was $305,000.
Both prices were more than 20 percent higher than a year ago.
Realtor's Association President Leslie Kilpatrick said more higher price homes are on the market, and most of the sales activity occurred at lower price points.
"We had places that had median and average price points in the upper-threes to mid-fours," Kilpatrick said. "And that represents a larger percentage of people who can actually buy within the county."
Kilpatrick expected the strong home prices to lure more homeowners to put their homes on the market.
That should ease some of the inventory issues that are making it tough to buy a home, according to Kilpartick.