SD House Sales Down, Median Price Up From Last Year
The number of houses and condominiums sold in San Diego County in 2010 was lower than in 2009, but the median sales price increased, according to figures released today by the San Diego Association of Realtors.
Nearly 20,800 houses sold last year, compared to more than 22,500 the year before, a decrease of 7.8 percent. About 11,300 attached homes sold in 2010, compared to almost 12,000 in 2009, a drop of 5.3 percent.
Houses sold for a median of $385,000 last year, compared to $355,000 the year before, a jump of 8.5 percent. Condominiums and duplexes cost a median of $220,000 in 2010, compared to $205,000 in 2009, an improvement of 7.3 percent.
The trend for the year was reversed last month, when the number of sales was up 25.7 percent for detached homes and 12.5 percent for attached residences. Prices were down slightly in December, traditionally a slow month for real estate.
"This is a good sign that buyers heeded the advice to move quickly to take advantage of historically low interest rates," said Bob Kevane, the president of the San Diego Association of Realtors. "It is likely that many buyers entered into transactions months ago and just recently closed."
Homes remain relatively affordable, and there is a large inventory for potential buyers, Kevane said.