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San Diego Housing Prices Crept Downward In February

Housing prices in San Diego County inched down last month, but the number of sales increased, according to data released Friday by the San Diego Association of Realtors.

The median price of a single-family home that sold in February was $470,000, down 1 percent from January, according to the report. More than 1,300 houses changed hands, up 8.4 percent from the previous month.

For attached residences, the median price in February was $299,900, down 1.7 percent. There were 721 sales -- 5.6 percent higher than January.

When compared to February of last year, the median price for a house was up 14.6 percent and number of sales down by 11.5 percent. The median cost of a condominium or townhouse was 20 percent higher than the same period last year, while the number sold was 5.4 percent lower.

"As we would expect to see following a seasonally-slow January, home sales started to pick up in February," SDAR President Leslie Kilpatrick said. "I'm hoping and anticipating we will see 'For Sale' signs blossom as we head into spring."

SDAR data shows the median price of houses and condos has remained relatively stable over the past few months. However, the number of single-family homes that have changed hands has steadily declined from a recent high of more than 2,400 sales last May.

Comments

Avatar for user 'JeanMarc'

JeanMarc | March 7, 2014 at 2:40 p.m. ― 9 months, 2 weeks ago

Hey, guess what? Interest rates have been creeping upwards! All of these people who bought houses with ultra-low interest rates will be in a tough spot if they want to sell in a few years... housing prices will sink as interest rates rise. People insane enough to get a 5-year ARM right now are going to find themselves in a repeat of 2008.

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