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Attached property sales up while single-family home sales drop in January

A "for sale" sign in front of a condo in the Golden Hill neighborhood of San Diego, Calif. Dec. 7, 2022.
KPBS staff
A "for sale" sign in front of a condo in the Golden Hill neighborhood of San Diego, Calif. Dec. 7, 2022.

Sales of attached properties in the San Diego area such as condominiums and town homes increased in January, while single-family home sales dipped, according to data released Tuesday by the Greater San Diego Association of Realtors.

According to the data, compiled by the SDAR through the San Diego Multiple Listing Service, re-sales of condos and town houses increased by nearly 6% in January, compared to December, and were almost 12% higher than January of last year.

However, single-family home sales were down 4% month-over-month, and 5.5% lower than a year ago.


"We anticipate that this increase will soon be mirrored by a rise in sales of single-family homes, as buyers react to the projected interest rate drops and the transition into the spring and summer seasons," SDAR President Spencer Lugash said. "We continue to urge potential home buyers to consult with a local realtor in order to make the most educated home purchasing decision."

The median price of single-family resale homes in the county increased by 4%, to $980,000 — more than 15% higher than last January. The price of attached homes was unchanged over the past month at $650,000 but is still more than 10% higher than in January 2023.

According to the SDAR, the areas in San Diego County with the most single-family home sales in January were Fallbrook with 30, Encanto with 28, Ramona with 24, Oceanside East with 20 and Lakeside and Vista East, both with 19

The most expensive single-family property sold in the county last month was a home on Ocean Front in Del Mar. Built in 1960, the 2,380-square- foot home features five bedrooms and seven baths, and closed on Jan. 9 for $18.5 million.