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San Diego Housing Prices Increased 19 Percent in 2013

Above: A sold sign is posted in front of a home at a new housing development.

The median price of a single-family residence that sold in the San Diego region last year was $457,000, a 19.2 percent increase over 2012, a local realtors group reported Wednesday.

For multifamily housing units like condominiums and townhomes, the median price in 2013 was $295,000 -- a 28.8 percent leap over the previous year, according to the San Diego Association of Realtors.

Houses and condos also spent about a third less time on the market in 2013 than in 2012.

As for sales that occurred last month, the median price of a house was $478,500, a 2 percent increase from November and a 14 percent climb from December 2012.

The median sales price in December 2013 for condos and townhomes was $300,000, down 3.2 percent from the previous month, but up 18.6 percent from December 2012.

While prices continued to gain, the number of sales dropped last month.

According to the SDAR, 1,591 houses sold in December, down 1.1 percent from November and 20.6 percent from one year earlier. The picture for multifamily housing in December was mixed -- 809 condos and townhomes sold, up 6.3 percent from November but down 9.8 percent from December 2012.

Comments

Avatar for user 'JohnKL'

JohnKL | June 12, 2014 at 6:55 p.m. ― 2 months, 1 week ago

Yeah, no kidding. I work at a corporate housing company and the prices just keep going up. Honestly, at this point, San Diego is on its way to competing on prices with San Francisco and New York, it's getting crazy.

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RX Corporate Housing
121 Broadway
San Diego, CA 92101-5006

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